Procore Technologies (NYSE:PCOR) CFO Sells $56,531.92 in Stock

Key Points

• Procore Technologies' CFO, Howard Fu, sold 796 shares of the company's stock for a total of $56,531.92, reducing their ownership by 0.42% to approximately 188,661 shares.
• Procore Technologies' stock has seen a 1.7% decline recently, trading at $72.65 with a market capitalization of $10.91 billion.
• A number of analysts have issued favorable ratings and raised their price targets for Procore Technologies, with the average price target now at $83.06, suggesting a Moderate Buy recommendation.

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) CFO Howard Fu sold 796 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $71.02, for a total value of $56,531.92. Following the transaction, the chief financial officer owned 188,661 shares of the company's stock, valued at approximately $13,398,704.22. This represents a 0.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, August 21st, Howard Fu sold 797 shares of Procore Technologies stock. The stock was sold at an average price of $63.85, for a total value of $50,888.45.
• On Monday, July 21st, Howard Fu sold 814 shares of Procore Technologies stock. The stock was sold at an average price of $74.35, for a total value of $60,520.90.

Procore Technologies Stock Down 1.7%

PCOR traded down $1.29 during trading on Wednesday, reaching $72.65. The stock had a trading volume of 2,789,615 shares, compared to its average volume of 1,378,454. The stock's 50 day moving average is $69.17 and its two-hundred day moving average is $67.45. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of -75.68 and a beta of 0.90. Procore Technologies, Inc. has a one year low of $53.71 and a one year high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The business had revenue of $323.92 million during the quarter, compared to the consensus estimate of $311.91 million. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%.The firm's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Procore Technologies

Institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. boosted its position in shares of Procore Technologies by 277.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company's stock valued at $35,000 after buying an additional 385 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Procore Technologies during the first quarter valued at $49,000. Hilltop National Bank purchased a new stake in shares of Procore Technologies during the second quarter valued at $62,000. Versant Capital Management Inc boosted its position in shares of Procore Technologies by 174.2% during the first quarter. Versant Capital Management Inc now owns 1,001 shares of the company's stock valued at $66,000 after buying an additional 636 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Procore Technologies during the second quarter valued at $68,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on PCOR. Arete began coverage on Procore Technologies in a report on Monday, June 16th. They issued a "buy" rating and a $91.00 price objective for the company. Piper Sandler raised their price target on Procore Technologies from $75.00 to $82.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Barclays raised their price target on Procore Technologies from $72.00 to $82.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. BMO Capital Markets raised their price target on Procore Technologies from $75.00 to $82.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, Stifel Nicolaus raised their price target on Procore Technologies from $75.00 to $80.00 and gave the company a "buy" rating in a report on Friday, August 1st. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Procore Technologies currently has an average rating of "Moderate Buy" and an average price target of $83.06.

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.

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