Prokor Technologies , Inc. (NYSE:) President of Products and Technology Steven Scott Davis sold 57,666 shares of the company’s stock, valued at approximately $4.56 million. The shares were sold at an average price of $79.11, with individual prices ranging from $78.58 to $79.46.
The transaction, which took place on March 13, 2024, was disclosed in a recent filing with the Securities and Exchange Commission. Following the sale, Davis still owns 167,989 shares of Procore Technologies stock, indicating continued investment in the company’s future.
Procore Technologies, known for its turnkey software solutions, has seen its stock price fluctuate recently. This sale by a senior executive may attract the attention of investors who closely monitor insider trading as part of their investment strategy.
Investors interested in the specifics of the sale may request detailed information from the company, as the reporting manager has agreed to provide full details of the number of shares sold at each price within the stated range.
The recent transaction highlights the dynamic nature of share ownership among company executives, which can be influenced by a variety of personal and market factors. Procore Technologies continues to be a key player in the software services industry, with its executive team actively managing its interests in the company.
InvestingAbout Insights
Amid news of the sale of shares by the executive management of Procore Technologies, Inc. (NYSE:PCOR) investors can find value in InvestingPro’s latest financials and analysis. The company, with a market capitalization of US$11.44 billion, is trading at a strong revenue valuation multiple, as reflected in its price-to-book ratio of 9.86 as of the trailing twelve months ended fourth quarter of 2023. Over the twelve month period, analysts have revised their earnings upwards for the coming period, indicating potential optimism about the company’s future profitability.
Procore’s gross margin is an impressive 81.69%, demonstrating its ability to maintain profitability at the operating level. Additionally, as of Q4 2023, the company has demonstrated strong revenue growth of 31.91% over the trailing twelve months. This financial position is complemented by strong earnings over the last three months with a total return of 16.65%.
InvestingPro’s advice suggests that Procore holds more cash than debt on its balance sheet and does not pay dividends to shareholders, which could be relevant to investors focused on balance sheet strength and reinvestment potential. For those interested in deeper analysis, InvestingPro has additional tips for Procore Technologies, including analyst forecasts for the company becoming profitable this year. To access this information, investors can visit Investing.com/pro/PCOR and use the coupon code. PRONEWS24 to receive an additional 10% discount on annual or biennial Pro and Pro+ subscriptions.
With its next earnings date of May 1, 2024, and a fair value estimated by analysts at $85, compared to InvestingPro’s fair value of $74.57, Procore Technologies remains a company to watch in the software services sector.
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