Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Procore Technologies Inc shares valued at $507,672 were sold by O CONNOR KEVIN J on Apr 04 ’24. At $79.20 per share, O CONNOR KEVIN J sold 6,410 shares. The insider’s holdings dropped to 1,494,311 shares worth approximately $112.85 million following the completion of this transaction.
Also, O CONNOR KEVIN J sold 6,410 shares, netting a total of over 500,557 in proceeds. Following the sale of shares at $78.09 each, the insider now holds 1,500,721 shares.
Before that, O CONNOR KEVIN J had sold 6,410 shares from its account. In a trade valued at $494,390, the Director traded Procore Technologies Inc shares for $77.13 each. Upon closing the transaction, the insider’s holdings decreased to 6,410 shares, worth approximately $113.82 million.
As published in a research note from JP Morgan on January 23, 2024, Procore Technologies Inc [PCOR] has been retained to an Overweight and the price target has been revised to $81. Analysts at Oppenheimer downgraded the stock from ‘”an Outperform”‘ to ‘”a Perform”‘ outlook in a report released in early November. As of November 02, 2023, Jefferies has decreased its “Buy” rating to a “Hold” for PCOR. Earlier on October 26, 2023, BMO Capital Markets initiated its rating. Their recommendation was “an Outperform” for PCOR stock.
Analyzing PCOR Stock Performance
During the last five days, there has been a drop of approximately -3.24%. Over the course of the year, Procore Technologies Inc shares have jumped approximately 9.10%. Shares of the company reached a 52-week high of $83.35 on 03/27/24 and a 52-week low of $64.04 on 01/03/24. A 50-day SMA is recorded $76.89, while a 200-day SMA reached $67.86. Nevertheless, trading volume fell to 1.34 million shares from 1.22 million shares the previous day.
Support And Resistance Levels for Procore Technologies Inc (PCOR)
According to the 24-hour chart, there is a support level at 74.41, which, if violated, would cause prices to drop to 73.31. In the upper region, resistance lies at 77.38. The next price resistance is at 79.25. RSI (Relative Strength Index) is 40.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.49, which suggests the price will decrease in the coming days. Percent R is at 95.72%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Procore Technologies Inc subject to short interest?
Stocks of Procore Technologies Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.25 million shares to 4.74 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 4.49 million shares. A jump of 5.27% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.86 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.86.
