Howard Fu Sells 8,000 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total value of $696,000.00. Following the sale, the chief financial officer now directly owns 156,188 shares in the company, valued at $13,588,356. The trade was a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Procore Technologies Stock Down 0.9 %

Shares of NYSE PCOR opened at $82.28 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market capitalization of $12.23 billion, a price-to-earnings ratio of -114.27 and a beta of 0.84. The stock has a 50 day moving average price of $78.09 and a 200 day moving average price of $69.49. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The firm had revenue of $302.05 million during the quarter, compared to analysts’ expectations of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. Sell-side analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analyst Ratings Changes

PCOR has been the topic of several analyst reports. Canaccord Genuity Group boosted their price objective on Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. BMO Capital Markets boosted their price objective on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Scotiabank boosted their price objective on Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 22nd. Stifel Nicolaus boosted their price objective on Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler boosted their price objective on Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Procore Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $89.94.

Institutional Trading of Procore Technologies

A number of large investors have recently modified their holdings of PCOR. Versant Capital Management Inc boosted its holdings in shares of Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after purchasing an additional 147 shares during the period. V Square Quantitative Management LLC lifted its holdings in Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after buying an additional 162 shares during the period. International Assets Investment Management LLC lifted its holdings in Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares during the period. Finally, Huntington National Bank lifted its holdings in Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock worth $49,000 after buying an additional 404 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

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.