Howard Fu Sells 1,441 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 1,441 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $71.02, for a total transaction of $102,339.82. Following the transaction, the chief financial officer now directly owns 192,178 shares in the company, valued at $13,648,481.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Howard Fu also recently made the following trade(s):

• On Friday, March 22nd, Howard Fu sold 1,457 shares of Procore Technologies stock. The stock was sold at an average price of $81.19, for a total transaction of $118,293.83.
• On Thursday, February 22nd, Howard Fu sold 4,458 shares of Procore Technologies stock. The shares were sold at an average price of $73.90, for a total value of $329,446.20.

Procore Technologies Price Performance

PCOR traded down $0.62 during trading on Wednesday, reaching $71.11. The stock had a trading volume of 933,623 shares, compared to its average volume of 1,201,327. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of -53.47 and a beta of 0.71. The stock has a 50 day moving average of $77.07 and a two-hundred day moving average of $68.86. Procore Technologies, Inc. has a 1-year low of $48.11 and a 1-year high of $83.35.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.13. The company had revenue of $260.04 million for the quarter, compared to analyst estimates of $248.20 million. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. As a group, equities analysts anticipate that Procore Technologies, Inc. will post -0.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JMP Securities upped their target price on Procore Technologies from $81.00 to $93.00 and gave the company a “market outperform” rating in a report on Friday, February 16th. DA Davidson reiterated a “buy” rating and issued a $95.00 price target on shares of Procore Technologies in a research report on Thursday, March 14th. BMO Capital Markets increased their target price on Procore Technologies from $76.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Stifel Nicolaus raised their price target on shares of Procore Technologies from $64.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, KeyCorp upped their price objective on shares of Procore Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.86.

Institutional Investors Weigh In On Procore Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Bancorp increased its position in Procore Technologies by 3.8% in the 1st quarter. Fifth Third Bancorp now owns 7,163 shares of the company’s stock worth $589,000 after buying an additional 263 shares during the period. Norden Group LLC acquired a new position in Procore Technologies in the first quarter valued at about $1,269,000. Wasatch Advisors LP grew its position in Procore Technologies by 78.1% during the 1st quarter. Wasatch Advisors LP now owns 5,603 shares of the company’s stock worth $460,000 after acquiring an additional 2,457 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Procore Technologies by 85.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 766,291 shares of the company’s stock worth $62,966,000 after purchasing an additional 353,794 shares during the last quarter. Finally, Diversified Trust Co increased its holdings in shares of Procore Technologies by 394.5% in the first quarter. Diversified Trust Co now owns 17,876 shares of the company’s stock valued at $1,469,000 after purchasing an additional 14,261 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Company Profile

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.