Insider Selling: 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 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 of the company’s stock, valued at approximately $13,588,356. This trade represents a 4.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Procore Technologies Trading Down 0.9 %

NYSE:PCOR opened at $82.28 on Monday. The firm has a market cap of $12.23 billion, a PE ratio of -114.27 and a beta of 0.84. The stock has a fifty day moving average price of $78.09 and a 200 day moving average price of $69.61. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $297.72 million. Sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Procore Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Chicago Partners Investment Group LLC increased its position in shares of Procore Technologies by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock worth $1,199,000 after purchasing an additional 129 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Procore Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock valued at $259,000 after purchasing an additional 143 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Procore Technologies by 61.3% in the 4th 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 lifted its holdings in shares of Procore Technologies by 37.8% in the 4th 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. Finally, Tanager Wealth Management LLP lifted its holdings in shares of Procore Technologies by 1.3% in the 3rd quarter. Tanager Wealth Management LLP now owns 12,747 shares of the company’s stock valued at $787,000 after purchasing an additional 168 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Mizuho raised their target price on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. KeyCorp raised their target price on Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. JMP Securities raised their price target on Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 18th. TD Cowen raised their price target on Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Scotiabank raised 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. 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.