Key Points
- CFO Howard Fu sold 814 shares on Jan. 2 at an average price of $72.99 for $59,413.86, leaving him with 178,237 shares valued at about $13.01M (a 0.45% stake reduction).
- This sale continues a pattern of small, periodic insider sales by Fu, who also sold similar-sized blocks on Oct. 21, Nov. 21 and Dec. 22.
- For context, analysts hold a consensus "Moderate Buy" on PCOR with an average target of $85.11; the company has a market cap of ~$11.6B and a 1‑year trading range of $53.71–$88.92.
Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) CFO Howard Fu sold 814 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $72.99, for a total value of $59,413.86. Following the transaction, the chief financial officer owned 178,237 shares of the company's stock, valued at approximately $13,009,518.63. This trade represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Howard Fu also recently made the following trade(s):
- On Monday, December 22nd, Howard Fu sold 796 shares of Procore Technologies stock. The stock was sold at an average price of $74.42, for a total transaction of $59,238.32.
- 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 transaction 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
PCOR opened at $74.63 on Wednesday. The company has a market capitalization of $11.60 billion, a P/E ratio of -88.84 and a beta of 0.90. The company has a 50-day moving average of $74.42 and a 200-day moving average of $71.78. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33. Procore Technologies, Inc. has a 1-year low of $53.71 and a 1-year high of $88.92.
Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The firm had revenue of $172.21 million during the quarter. Equities analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research firms have commented on PCOR. Canaccord Genuity Group lifted their price objective on shares of Procore Technologies from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, November 6th. Piper Sandler lifted their price target on shares of Procore Technologies from $82.00 to $91.00 and gave the company an "overweight" rating in a report on Thursday, November 6th. BTIG Research reiterated a "buy" rating and set a $88.00 price objective on shares of Procore Technologies in a research note on Wednesday, December 17th. Barclays raised shares of Procore Technologies from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $82.00 to $90.00 in a report on Monday. Finally, BMO Capital Markets upped their target price on Procore Technologies from $82.00 to $87.00 and gave the company an "outperform" rating in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $85.11.
Get Our Latest Report on Procore Technologies
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCOR. Alliancebernstein L.P. raised its holdings in Procore Technologies by 493.9% during the 3rd quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company's stock worth $445,391,000 after buying an additional 5,079,534 shares during the period. Assenagon Asset Management S.A. increased its position in shares of 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 raised its holdings in shares of Procore Technologies by 58.4% during the second quarter. Wasatch Advisors LP now owns 4,656,421 shares of the company's stock worth $318,592,000 after acquiring an additional 1,717,492 shares during the period. Wellington Management Group LLP raised its holdings in shares of Procore Technologies by 77.6% during the third quarter. Wellington Management Group LLP now owns 3,401,891 shares of the company's stock worth $248,066,000 after acquiring an additional 1,486,153 shares during the period. Finally, Holocene Advisors LP lifted its position in Procore Technologies by 245.9% in the 3rd quarter. Holocene Advisors LP now owns 1,987,188 shares of the company's stock valued at $144,906,000 after acquiring an additional 1,412,721 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.
Procore Technologies Company Profile
(
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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