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 company’s stock in a transaction 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 owns 156,188 shares of the company’s stock, valued at approximately $13,588,356. This represents a 4.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Procore Technologies Price Performance

NYSE PCOR opened at $82.28 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The stock’s fifty day moving average price is $78.09 and its 200 day moving average price is $69.49. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. The company has a market cap of $12.23 billion, a price-to-earnings ratio of -114.27 and a beta of 0.84.

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

Institutional Investors Weigh In On Procore Technologies

Hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its holdings in 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 last quarter. Parkside Financial Bank & Trust boosted its holdings in 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 last quarter. V Square Quantitative Management LLC boosted its holdings in Procore Technologies by 37.8% in the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after purchasing an additional 162 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Procore Technologies by 6,069.2% in the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after purchasing an additional 789 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in Procore Technologies by 161.6% in the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock valued at $49,000 after purchasing an additional 404 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PCOR has been the subject of a number of analyst reports. UBS Group upped their target price on Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Scotiabank upped their price target on Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 22nd. Robert W. Baird upped their price target on Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Stifel Nicolaus upped their price target on Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Barclays upped their price target on Procore Technologies from $84.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.94.

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.