Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu Sells 1,157 Shares

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 1,157 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $65.00, for a total value of $75,205.00. Following the completion of the transaction, the chief financial officer now owns 182,561 shares in the company, valued at $11,866,465. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Wednesday, May 22nd, Howard Fu sold 7,748 shares of Procore Technologies stock. The stock was sold at an average price of $70.17, for a total transaction of $543,677.16.
• On Monday, April 22nd, Howard Fu sold 1,441 shares of Procore Technologies stock. The shares were sold at an average price of $71.02, for a total transaction of $102,339.82.

Procore Technologies Stock Performance

PCOR opened at $66.32 on Friday. The company has a 50-day moving average of $67.42 and a 200-day moving average of $71.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.61 and a quick ratio of 1.60. 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 quarterly earnings data on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.15. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. The firm had revenue of $269.43 million during the quarter, compared to analyst estimates of $263.13 million. As a group, analysts forecast that Procore Technologies, Inc. will post -0.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Mizuho reissued a “neutral” rating and issued a $70.00 target price (down previously from $75.00) on shares of Procore Technologies in a research note on Tuesday, June 4th. Piper Sandler reduced their price objective on Procore Technologies from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. DA Davidson reaffirmed a “buy” rating and issued a $95.00 target price on shares of Procore Technologies in a research report on Thursday, March 14th. TD Cowen assumed coverage on Procore Technologies in a research report on Wednesday, June 12th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Macquarie began coverage on Procore Technologies in a report on Wednesday, June 5th. They issued a “neutral” rating and a $70.00 price target for the company. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $80.94.

Institutional Investors Weigh In On Procore Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Procore Technologies during the fourth quarter worth $68,005,000. Artisan Partners Limited Partnership raised its stake in Procore Technologies by 81.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 652,985 shares of the company’s stock worth $45,200,000 after acquiring an additional 293,613 shares during the period. Eventide Asset Management LLC bought a new position in Procore Technologies in the fourth quarter worth about $3,302,000. CHURCHILL MANAGEMENT Corp acquired a new position in Procore Technologies in the first quarter valued at approximately $1,342,000. Finally, GW&K Investment Management LLC acquired a new position in Procore Technologies in the fourth quarter valued at approximately $52,130,000. 81.10% of the stock is owned by institutional investors and hedge funds.

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.