Procore Technologies CFO sells shares worth $79,730

Published 14/03/2025, 22:50
Procore Technologies CFO sells shares worth $79,730

Howard Fu, the Chief Financial Officer and Treasurer of Procore Technologies , Inc. (NYSE:PCOR), recently sold a portion of his holdings in the company. The construction software provider, currently valued at $10.2 billion, has maintained a strong balance sheet with more cash than debt, according to InvestingPro data. According to a filing with the Securities and Exchange Commission, Fu sold 1,190 shares of Procore’s common stock on March 14, 2025, at a price of $67 per share. The total value of this transaction amounted to $79,730. Following this sale, Fu retains ownership of 146,160 shares in the company. The transaction was executed under a pre-established 10b5-1 trading plan dated November 15, 2024. The stock has experienced a 10% decline over the past week, though analysts maintain a positive outlook with a consensus target price range of $73-110. InvestingPro subscribers can access 8 additional key insights about PCOR’s insider trading patterns and financial health metrics.

In other recent news, Procore Technologies, Inc. announced a leadership transition with founder and CEO Tooey Courtemanche planning to become Executive Chairman. This change comes as the company begins a search for a new CEO, a move that has been discussed in various analyst notes. Despite the transition, Procore has reiterated its 2025 financial guidance, projecting a 12% growth rate and an improvement in non-GAAP operating margin by 300-350 basis points. Analysts from BMO Capital Markets, Stifel, and Citizens JMP have maintained positive ratings on Procore, with price targets ranging from $93 to $95. BMO Capital and JMP both emphasized confidence in the company’s strategic direction and leadership plans. Stifel noted the transition is aimed at optimizing leadership for future growth, with Courtemanche focusing on product development and strategy. Meanwhile, Citizens JMP highlighted Procore’s strong market position and the potential for significant growth in the construction management software sector. These developments reflect Procore’s commitment to maintaining its growth trajectory and strategic goals during this period of leadership transition.

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