Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) CFO Sells 814 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) CFO Howard Fu sold 814 shares of Procore Technologies stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $74.35, for a total value of $60,520.90. Following the transaction, the chief financial officer owned 197,457 shares of the company's stock, valued at $14,680,927.95. This represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, June 20th, Howard Fu sold 796 shares of Procore Technologies stock. The shares were sold at an average price of $66.88, for a total value of $53,236.48.
• On Wednesday, May 21st, Howard Fu sold 797 shares of Procore Technologies stock. The shares were sold at an average price of $68.99, for a total value of $54,985.03.

Procore Technologies Stock Up 1.7%

Procore Technologies stock traded up $1.29 during trading on Friday, reaching $75.60. 1,060,782 shares of the company's stock were exchanged, compared to its average volume of 1,326,798. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.19. The company's 50-day moving average is $69.17 and its two-hundred day moving average is $70.38. The firm has a market cap of $11.28 billion, a price-to-earnings ratio of -87.91 and a beta of 0.89. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. The business had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. Procore Technologies had a negative net margin of 10.73% and a negative return on equity of 6.54%. The company's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 EPS. On average, analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Procore Technologies by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company's stock valued at $891,692,000 after purchasing an additional 838,925 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Procore Technologies by 84.5% in the 1st quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company's stock valued at $215,195,000 after purchasing an additional 1,492,869 shares in the last quarter. Capital World Investors raised its stake in shares of Procore Technologies by 453.6% in the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company's stock valued at $233,704,000 after purchasing an additional 2,555,612 shares in the last quarter. Principal Financial Group Inc. raised its stake in Procore Technologies by 3.1% during the first quarter. Principal Financial Group Inc. now owns 2,762,275 shares of the company's stock worth $182,365,000 after acquiring an additional 82,311 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Procore Technologies by 14.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,627,408 shares of the company's stock worth $196,873,000 after acquiring an additional 322,367 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. UBS Group cut their price target on Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a report on Thursday, April 24th. KeyCorp cut their price target on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Barclays boosted their price objective on shares of Procore Technologies from $72.00 to $82.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Piper Sandler lowered their price objective on shares of Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, DA Davidson raised shares of Procore Technologies to a "hold" rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $81.39.

About Procore Technologies

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.