Procore Technologies Inc (NYSE:PCOR), a company specializing in construction management software, has reported an insider sale according to a recent SEC filing. Chief Legal Officer and Secretary Benjamin Singer sold 8,000 shares of the company on March 8, 2024.
Benjamin Singer has been active in the market over the past year, selling a total of 89,090 shares and making no purchases of the company's stock. This latest transaction continues the trend observed within Procore Technologies Inc, where insider activity has been predominantly in the form of sales. Over the past year, there have been no insider buys and 102 insider sells.
On the day of the sale, shares of Procore Technologies Inc were trading at $80, valuing the company at a market cap of $11.422 billion.
The insider trend image reflects the ongoing pattern of insider sales at Procore Technologies Inc, with the Chief Legal Officer's recent transaction aligning with the broader insider sentiment over the past year.
Regarding the company's valuation, with a share price of $80 and a GuruFocus Value of $80.53, Procore Technologies Inc holds a price-to-GF-Value ratio of 0.99, indicating that the stock is Fairly Valued based on its GF Value.
The GF Value is determined by considering historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on the company's historical returns and growth. Additionally, future business performance estimates provided by Morningstar analysts are factored into the calculation.
The recent sale by the insider does not necessarily indicate a change in the fundamental valuation of the company but is part of a consistent pattern of insider sales over the past year. Investors often monitor insider transactions as they can provide insights into how the company's executives view the stock's current valuation and future prospects.
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.
