Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu Sells 796 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 796 shares of Procore Technologies stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $66.88, for a total transaction of $53,236.48. Following the completion of the transaction, the chief financial officer now owns 198,271 shares of the company’s stock, valued at $13,260,364.48. This represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, May 21st, Howard Fu sold 797 shares of Procore Technologies stock. The stock was sold at an average price of $68.99, for a total value of $54,985.03.
• On Wednesday, April 23rd, Howard Fu sold 1,480 shares of Procore Technologies stock. The shares were sold at an average price of $60.02, for a total transaction of $88,829.60.
• On Monday, April 14th, Howard Fu sold 1,216 shares of Procore Technologies stock. The stock was sold at an average price of $61.34, for a total transaction of $74,589.44.

Procore Technologies Stock Up 3.3%

Shares of Procore Technologies stock opened at $68.36 on Wednesday. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of -79.49 and a beta of 0.90. The company has a 50-day moving average of $65.84 and a 200 day moving average of $71.25. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.19 and a quick ratio of 1.19.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Procore Technologies had a negative net margin of 10.73% and a negative return on equity of 6.54%. The business had revenue of $310.63 million during the quarter, compared to the consensus estimate of $302.66 million. During the same quarter last year, the firm earned $0.30 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Scotiabank reduced their price objective on Procore Technologies from $95.00 to $75.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 24th. BMO Capital Markets lowered their price objective on Procore Technologies from $95.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Macquarie cut their target price on shares of Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Barclays upped their price objective on shares of Procore Technologies from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Procore Technologies from $97.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.83.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust grew its stake in shares of Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 147 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Procore Technologies by 277.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock worth $35,000 after purchasing an additional 385 shares in the last quarter. Huntington National Bank grew its position in Procore Technologies by 161.6% during the 4th 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. SVB Wealth LLC bought a new stake in Procore Technologies during the 1st quarter valued at about $49,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in Procore Technologies by 1,434.0% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock valued at $54,000 after purchasing an additional 674 shares in the last quarter. Hedge funds and other institutional investors 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.