Microvast Holdings announces departure of chief financial officer
CARPINTERIA, Calif.— Procore Technologies , Inc. (NYSE:PCOR), the $9.8 billion construction management software company, saw its Chief Revenue Officer Lawrence Joseph Stack recently sell a significant portion of his holdings. According to a recent SEC filing, Stack sold 2,500 shares of Procore’s common stock on June 12, 2025, at a price of $65.33 per share, totaling $163,325. InvestingPro data shows the company maintains impressive gross profit margins of 81.2%.
Following this transaction, Stack retains ownership of 208,288 shares in the construction management software company. The sale was conducted as a direct ownership transaction.
Investors and analysts will be watching closely to see how this insider transaction might impact Procore’s stock performance in the coming weeks.
In other recent news, Procore Technologies has reported its first-quarter earnings for 2025, showcasing a solid performance that exceeded market expectations. The company achieved a non-GAAP earnings per share (EPS) of $0.23, surpassing the consensus estimate of $0.18, while revenue reached $311 million, exceeding the anticipated $302.6 million. This represents a 15% year-over-year increase in revenue, driven by strong international growth. Despite these positive financial results, Procore’s stock remained stable in aftermarket trading. Analysts from Citizens JMP reaffirmed a Market Outperform rating with a price target of $95, expressing confidence in Procore’s market position and future prospects. Meanwhile, Stifel analysts adjusted their price target for Procore to $75 from $93 but maintained a Buy rating, noting the company’s strong revenue growth and increased performance obligations. The company’s management remains focused on AI-driven innovation and platform integration, emphasizing a cautious outlook due to industry uncertainties. Procore’s leadership is optimistic about meeting its full-year guidance and driving additional profitability even if macroeconomic conditions worsen.
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