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Howard Fu, the Chief Financial Officer and Treasurer of Procore Technologies , Inc. (NYSE:PCOR), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Fu sold 8,000 shares of Procore’s common stock on February 19, 2025, at a price of $87 per share, totaling $696,000. The sale comes as Procore’s stock trades near its 52-week high of $88.92, with the company showing impressive revenue growth of 21% over the last twelve months.
Following this transaction, Fu holds 156,188 shares of Procore Technologies. Additionally, on February 20, 2025, Fu had 6,196 shares withheld by the company to cover tax obligations related to the vesting of restricted stock units, valued at $535,830 at a price of $86.48 per share. According to InvestingPro analysis, while the company maintains strong gross profit margins of 82.2%, it currently appears slightly overvalued based on Fair Value estimates.
These transactions come as part of Fu’s ongoing management of his equity position in the company, reflecting routine adjustments to his holdings. Procore Technologies, headquartered in Carpinteria, California, is a leading provider of construction management software with a market capitalization of $12.26 billion. While currently not profitable, analysts tracked by InvestingPro expect the company to achieve profitability in 2025, with 8 additional key insights available to subscribers.
In other recent news, Procore Technologies has reported its fourth-quarter earnings, revealing a mixed financial performance. The company posted earnings per share (EPS) of $0.01, which fell short of the expected $0.11. However, Procore’s revenue reached $302 million, surpassing the forecast of $297.43 million, marking a 16% year-over-year increase. Analysts from JMP Securities and KeyBanc have responded to these developments by raising their price targets for the company to $95 and $96, respectively, while maintaining positive ratings, reflecting confidence in Procore’s market trajectory.
JMP Securities noted the company’s calculated remaining performance obligations (cRPO) of $829.7 million, which exceeded expectations and grew by 19% year-over-year. KeyBanc highlighted Procore’s strong sales productivity and execution, attributing its success to large deal activities and a less disruptive transition in its go-to-market strategy. Procore has also raised its full-year revenue guidance to between $1.285 billion and $1.290 billion, reflecting a 12% growth, and increased its non-GAAP operating margin guidance to 13-13.5%.
Additionally, Procore’s international revenue grew by 19%, underscoring its expanding global presence. The company emphasized new product launches and AI investments, which are expected to drive further growth. Despite the EPS miss, these strategic initiatives and the positive analyst outlook suggest a favorable market position for Procore Technologies.
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