Key Points
- CFO Howard Fu sold 796 shares of Procore (NYSE:PCOR) on Dec. 22 at an average price of $74.42 for about $59,238, leaving him with 179,051 shares (a 0.44% reduction valued at ~ $13.3M).
- The sale continues a recent pattern of modest insider disposals—Fu also sold 797 shares on Nov. 21 (at $69.35) and 814 shares on Oct. 21 (at $72.34).
- Procore trades around $74 (50‑day SMA $74.32, 200‑day SMA $71.27) with a market cap of ~$11.6B, and analysts hold a consensus “Moderate Buy” with a $84.67 average price target.
Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) CFO Howard Fu sold 796 shares of Procore Technologies stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $74.42, for a total value of $59,238.32. Following the completion of the transaction, the chief financial officer owned 179,051 shares of the company's stock, valued at approximately $13,324,975.42. The trade was a 0.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Howard Fu also recently made the following trade(s):
- On Friday, November 21st, Howard Fu sold 797 shares of Procore Technologies stock. The shares were sold at an average price of $69.35, for a total value of $55,271.95.
- On Tuesday, October 21st, Howard Fu sold 814 shares of Procore Technologies stock. The stock was sold at an average price of $72.34, for a total transaction of $58,884.76.
Procore Technologies Price Performance
Procore Technologies stock opened at $74.29 on Wednesday. The business's 50-day simple moving average is $74.32 and its 200 day simple moving average is $71.27. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. The stock has a market cap of $11.55 billion, a price-to-earnings ratio of -88.44 and a beta of 0.90. Procore Technologies, Inc. has a 12-month low of $53.71 and a 12-month high of $88.92.
Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. The business had revenue of $172.21 million during the quarter. As a group, research analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. BMO Capital Markets increased their price target on Procore Technologies from $82.00 to $87.00 and gave the company an "outperform" rating in a research note on Thursday, November 6th. BTIG Research reiterated a "buy" rating and issued a $88.00 price objective on shares of Procore Technologies in a report on Wednesday, December 17th. KeyCorp increased their target price on Procore Technologies from $81.00 to $91.00 and gave the company an "overweight" rating in a research note on Thursday, November 6th. DA Davidson upgraded shares of Procore Technologies to a "hold" rating in a research report on Friday, November 7th. Finally, Berenberg Bank initiated coverage on Procore Technologies in a report on Friday, October 3rd. They set a "buy" rating and a $84.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $84.67.
Get Our Latest Analysis on Procore Technologies
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. increased its position in shares of Procore Technologies by 493.9% in the third quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company's stock valued at $445,391,000 after acquiring an additional 5,079,534 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Procore Technologies by 76.6% during the third quarter. Assenagon Asset Management S.A. now owns 4,037,974 shares of the company's stock worth $294,449,000 after acquiring an additional 1,750,998 shares in the last quarter. Wasatch Advisors LP lifted its stake in Procore Technologies by 58.4% in the second quarter. Wasatch Advisors LP now owns 4,656,421 shares of the company's stock valued at $318,592,000 after acquiring an additional 1,717,492 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Procore Technologies by 77.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,401,891 shares of the company's stock valued at $248,066,000 after acquiring an additional 1,486,153 shares during the period. Finally, Holocene Advisors LP increased its stake in shares of Procore Technologies by 245.9% during the 3rd quarter. Holocene Advisors LP now owns 1,987,188 shares of the company's stock worth $144,906,000 after purchasing an additional 1,412,721 shares during the last quarter. Institutional investors own 81.10% of the company's stock.
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. 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 Execution, 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.
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