Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu Sells 7,922 Shares

by · The Markets Daily

Procore Technologies, Inc. (NYSE:PCOR – Get Free Report) CFO Howard Fu sold 7,922 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total value of $468,507.08. Following the transaction, the chief financial officer now owns 173,497 shares in the company, valued at $10,260,612.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Monday, July 22nd, Howard Fu sold 1,142 shares of Procore Technologies stock. The stock was sold at an average price of $68.68, for a total value of $78,432.56.
  • On Friday, June 28th, Howard Fu sold 1,157 shares of Procore Technologies stock. The shares were sold at an average price of $65.00, for a total value of $75,205.00.

Procore Technologies Stock Down 1.5 %

Shares of NYSE:PCOR opened at $59.45 on Thursday. Procore Technologies, Inc. has a 12 month low of $48.11 and a 12 month high of $83.35. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $63.40 and its two-hundred day moving average price is $69.56. The firm has a market cap of $8.70 billion, a P/E ratio of -61.93 and a beta of 0.75.

Procore Technologies (NYSE:PCOR – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.14. The firm had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $275.26 million. Procore Technologies had a negative net margin of 8.54% and a negative return on equity of 4.13%. Procore Technologies’s revenue was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.28) EPS. As a group, research analysts forecast that Procore Technologies, Inc. will post -0.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PCOR shares. Canaccord Genuity Group dropped their price objective on shares of Procore Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Scotiabank cut their price target on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. TD Cowen initiated coverage on Procore Technologies in a research note on Wednesday, June 12th. They issued a “buy” rating and a $85.00 price objective on the stock. Stifel Nicolaus cut their target price on Procore Technologies from $85.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, KeyCorp decreased their price target on Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.31.

View Our Latest Stock Analysis on Procore Technologies

Institutional Trading of Procore Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its stake in shares of Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after purchasing an additional 216 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Procore Technologies during the 2nd quarter worth $51,000. Cullen Frost Bankers Inc. bought a new stake in shares of Procore Technologies during the 4th quarter valued at $62,000. International Assets Investment Management LLC lifted its stake in shares of Procore Technologies by 6,823.1% in the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after purchasing an additional 887 shares during the period. Finally, Quarry LP boosted its position in shares of Procore Technologies by 984.6% in the 2nd quarter. Quarry LP now owns 1,128 shares of the company’s stock worth $75,000 after purchasing an additional 1,024 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

About Procore Technologies

(Get Free Report)

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.

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