Procore Technologies, Inc. (NYSE:PCOR) CFO Sells $696,000.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 8,000 shares of the firm’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 transaction of $696,000.00. Following the completion of the transaction, the chief financial officer now directly owns 156,188 shares in the company, valued at $13,588,356. This trade represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Procore Technologies Stock Down 0.9 %

Shares of NYSE:PCOR traded down $0.78 during trading on Friday, hitting $82.28. The company’s stock had a trading volume of 1,628,367 shares, compared to its average volume of 1,377,505. The business has a 50 day moving average price of $78.09 and a two-hundred day moving average price of $69.37. The company has a market capitalization of $12.23 billion, a PE ratio of -114.27 and a beta of 0.84. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92.

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). The business had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. As a group, research analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group lifted their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, February 14th. TD Cowen lifted their price target on shares of Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Jefferies Financial Group raised shares of Procore Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $100.00 in a research report on Monday, January 6th. KeyCorp lifted their price target on shares of Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, BMO Capital Markets lifted their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.94.

Hedge Funds Weigh In On Procore Technologies

Several institutional investors have recently modified their holdings of PCOR. Principal Financial Group Inc. lifted its position in shares of Procore Technologies by 29,376.1% during the 4th quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock worth $200,810,000 after purchasing an additional 2,670,872 shares during the last quarter. Capital World Investors lifted its position in shares of Procore Technologies by 453.6% during the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company’s stock worth $233,704,000 after purchasing an additional 2,555,612 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Procore Technologies during the 4th quarter worth $131,840,000. Wasatch Advisors LP lifted its position in shares of Procore Technologies by 27,239.5% during the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock worth $97,599,000 after purchasing an additional 1,575,534 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Procore Technologies during the 3rd quarter worth $88,572,000. Institutional investors and hedge funds 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.