Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu Sells 5,078 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR – Get Rating) CFO Howard Fu sold 5,078 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $57.95, for a total transaction of $294,270.10. Following the transaction, the chief financial officer now directly owns 163,442 shares of the company’s stock, valued at approximately $9,471,463.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Procore Technologies Price Performance

Shares of PCOR opened at $57.01 on Friday. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of -28.22 and a beta of 0.55. The business’s 50-day moving average is $56.40 and its 200-day moving average is $55.18. Procore Technologies, Inc. has a fifty-two week low of $41.07 and a fifty-two week high of $68.56. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.51 and a quick ratio of 1.51.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Procore Technologies from $79.00 to $67.00 in a report on Thursday, May 4th. The Goldman Sachs Group raised shares of Procore Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $63.00 to $75.00 in a report on Thursday, May 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $75.00 price objective on shares of Procore Technologies in a report on Monday, April 17th. Barclays upped their price objective on shares of Procore Technologies from $61.00 to $72.00 in a report on Friday, February 17th. Finally, Mizuho reduced their price objective on shares of Procore Technologies from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, April 17th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Institutional Investors Weigh In On Procore Technologies

Several large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in Procore Technologies by 8.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,908,997 shares of the company’s stock worth $620,601,000 after purchasing an additional 734,057 shares during the period. Vanguard Group Inc. boosted its position in shares of Procore Technologies by 20.4% in the third quarter. Vanguard Group Inc. now owns 6,141,607 shares of the company’s stock valued at $303,886,000 after acquiring an additional 1,042,498 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Procore Technologies by 28.3% in the first quarter. JPMorgan Chase & Co. now owns 4,024,198 shares of the company’s stock valued at $252,035,000 after acquiring an additional 886,949 shares during the period. BlackRock Inc. boosted its position in shares of Procore Technologies by 2.8% in the first quarter. BlackRock Inc. now owns 3,049,170 shares of the company’s stock valued at $190,970,000 after acquiring an additional 83,545 shares during the period. Finally, Morgan Stanley raised its stake in shares of Procore Technologies by 2.9% in the fourth quarter. Morgan Stanley now owns 2,987,734 shares of the company’s stock valued at $140,961,000 after purchasing an additional 82,918 shares in the last quarter. Institutional investors own 82.50% of the company’s stock.

Procore Technologies Company Profile

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Procore Technologies, Inc provides 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.