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Procore Technologies Inc [NYSE: PCOR] Sees Decrease in Stock Value

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Procore Technologies Inc shares valued at $102,340 were sold by Fu Howard on Apr 22 ’24. At $71.02 per share, Fu Howard sold 1,441 shares. The insider’s holdings dropped to 192,178 shares worth approximately $13.11 million following the completion of this transaction.

Also, O CONNOR KEVIN J sold 6,410 shares, netting a total of over 507,672 in proceeds. Following the sale of shares at $79.20 each, the insider now holds 1,494,311 shares.

Before that, O CONNOR KEVIN J had sold 6,410 shares from its account. In a trade valued at $500,557, the Director traded Procore Technologies Inc shares for $78.09 each. Upon closing the transaction, the insider’s holdings decreased to 6,410 shares, worth approximately $102.41 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 -4.04%. Over the course of the year, Procore Technologies Inc shares have dropped approximately -1.42%. 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 $76.26, while a 200-day SMA reached $68.18. Nevertheless, trading volume fell to 2.76 million shares from 1.66 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 67.26, which, if violated, would cause prices to drop to 66.28. In the upper region, resistance lies at 69.71. The next price resistance is at 71.18. RSI (Relative Strength Index) is 28.00 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.01, which suggests the price will decrease in the coming days. Percent R is at 93.27%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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