Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu Sells 1,142 Shares

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 1,142 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $68.68, for a total transaction of $78,432.56. Following the completion of the sale, the chief financial officer now owns 181,419 shares of the company’s stock, valued at approximately $12,459,856.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Howard Fu also recently made the following trade(s):

• On Friday, June 28th, Howard Fu sold 1,157 shares of Procore Technologies stock. The stock was sold at an average price of $65.00, for a total transaction of $75,205.00.
• On Wednesday, May 22nd, Howard Fu sold 7,748 shares of Procore Technologies stock. The stock was sold at an average price of $70.17, for a total transaction of $543,677.16.

Procore Technologies Trading Down 2.8 %

Shares of Procore Technologies stock traded down $1.99 during mid-day trading on Wednesday, hitting $68.01. 968,702 shares of the stock were exchanged, compared to its average volume of 1,331,038. Procore Technologies, Inc. has a twelve month low of $48.11 and a twelve month high of $83.35. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of -70.84 and a beta of 0.75. The company has a 50-day simple moving average of $66.95 and a 200 day simple moving average of $71.46. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.15. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. The company had revenue of $269.43 million for the quarter, compared to analysts’ expectations of $263.13 million. Research analysts forecast that Procore Technologies, Inc. will post -0.35 EPS for the current year.

Analyst Ratings Changes

PCOR has been the subject of a number of analyst reports. Barclays cut their price objective on shares of Procore Technologies from $83.00 to $78.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Macquarie started coverage on shares of Procore Technologies in a report on Wednesday, June 5th. They issued a “neutral” rating and a $70.00 price target for the company. TD Cowen started coverage on shares of Procore Technologies in a report on Wednesday, June 12th. They issued a “buy” rating and a $85.00 price target for the company. Mizuho reiterated a “neutral” rating and issued a $70.00 price target (down previously from $75.00) on shares of Procore Technologies in a report on Tuesday, June 4th. Finally, Piper Sandler cut their price target on shares of Procore Technologies from $77.00 to $74.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $80.67.

Institutional Investors Weigh In On Procore Technologies

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Procore Technologies during the 4th quarter worth about $68,005,000. Artisan Partners Limited Partnership lifted its holdings in shares of Procore Technologies by 81.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 652,985 shares of the company’s stock worth $45,200,000 after acquiring an additional 293,613 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in shares of Procore Technologies by 29.2% during the 1st quarter. Orion Portfolio Solutions LLC now owns 75,840 shares of the company’s stock worth $6,232,000 after acquiring an additional 17,119 shares during the period. M&G Plc purchased a new position in shares of Procore Technologies during the 1st quarter worth about $8,798,000. Finally, Eventide Asset Management LLC purchased a new position in shares of Procore Technologies during the 4th quarter worth about $3,302,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Company Profile

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects.