Yahoo Finance Insider Sale: President of Product & Technology at Procore Technologies Inc (PCOR) Sells Shares
On June 28, 2024, Steven Davis, President of Product & Technology at Procore Technologies Inc (NYSE:PCOR), sold 7,641 shares of the company. The transaction was reported in a recent SEC Filing. Following this sale, the insider now owns 209,837 shares of Procore Technologies Inc.
Procore Technologies Inc, a company specializing in construction management software, facilitates project management, resource management, and financial management for construction firms. This technology aims to streamline operations and enhance communication across project stakeholders.
Over the past year, the insider has sold a total of 108,145 shares and has not purchased any shares. This recent transaction is part of a broader trend at Procore Technologies Inc, where there have been 104 insider sells and no insider buys over the past year.
On the day of the sale, shares of Procore Technologies Inc were trading at $65, giving the company a market cap of approximately $9.70 billion. According to GF Value, the stock is currently modestly undervalued, with a price-to-GF-Value ratio of 0.77, based on a GF Value of $84.48.
The GF Value is calculated considering historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This insider sale might interest investors tracking insider behaviors as an indicator of company performance and valuation perspectives.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
