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Howard Fu, the Chief Financial Officer and Treasurer of Procore Technologies , Inc. (NYSE:PCOR), a construction management software company with an $11.46 billion market capitalization, recently sold a portion of his holdings in the company. According to a recent SEC filing, Fu sold 2,642 shares of Procore’s common stock on March 3, 2025. The stock has shown strong momentum, gaining nearly 41% over the past six months. The shares were sold at a weighted average price of $77.05, with prices ranging from $76.68 to $77.295, resulting in a total transaction value of approximately $203,566.
This transaction was executed under a 10b5-1 trading plan, which had been established on November 15, 2024. Following this sale, Fu retains ownership of 147,350 shares of Procore Technologies.
In other recent news, Procore Technologies announced its fourth-quarter financial results, revealing a mixed performance. The company reported earnings per share (EPS) of $0.01, which fell short of the expected $0.11, but its revenue exceeded expectations, reaching $302 million against the forecasted $297.8 million. This represents a 16% year-over-year increase, although slightly down from the 19% growth in the previous quarter. Additionally, Procore’s calculated remaining performance obligations (cRPO) surpassed analyst predictions, amounting to $829.7 million, a 19% year-over-year growth. The company’s total remaining performance obligations (RPO) saw a significant increase of 29% year-over-year.
Following these results, JMP Securities raised Procore’s stock price target to $95, maintaining a Market Outperform rating, while KeyBanc Capital Markets increased their target to $96, reaffirming an Overweight rating. Both firms cited strong sales productivity and execution as reasons for their optimism. Procore’s 2025 outlook also improved modestly, indicating potential for solid margin growth. The company 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%.
In terms of strategic initiatives, Procore highlighted its focus on technological advancements, including new product launches and AI investments, which are expected to drive further growth. Despite the EPS miss, the company’s strategic initiatives and product innovations have bolstered investor confidence, as reflected in the stock’s aftermarket performance.
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