Procore Technologies chief revenue officer sells $995,040 in stock

Procore Technologies , Inc. (NYSE:PCOR) Chief Revenue Officer Lawrence Joseph Stack recently sold 12,000 shares of the company’s common stock, according to a recent SEC filing. The shares were sold at a weighted average price of $82.92, generating a total of $995,040. The sales occurred on February 21, 2025, with prices ranging from $82.48 to $83.22 per share. The transaction comes as the $12.26 billion market cap company demonstrates strong performance, with impressive gross profit margins of 82.2% and revenue growth of 21.23% over the last twelve months.

Additionally, the filing noted a previous transaction on February 20, where 20,283 shares were disposed of by the company to cover a tax obligation upon the vesting of restricted stock units. These shares were valued at $86.48 each, resulting in a total transaction value of $1,754,073.

Following these transactions, Stack retains ownership of 161,368 shares of Procore Technologies.

In other recent news, Procore Technologies has announced its fourth-quarter financial results, showing a mixed performance. The company reported earnings per share (EPS) of $0.01, which fell short of the expected $0.11. However, Procore’s revenue surpassed expectations, reaching $302 million against the forecasted $297.43 million, marking a 16% year-over-year increase. Both JMP Securities and KeyBanc Capital Markets have raised their price targets for Procore, with JMP increasing it to $95 and KeyBanc to $96, citing strong calculated remaining performance obligations (cRPO) and robust execution as key factors.

JMP Securities noted Procore’s total remaining performance obligations (RPO) grew by 29% year-over-year, indicating strong future revenue potential. KeyBanc highlighted that Procore’s go-to-market strategy transition was less disruptive than anticipated, contributing to the company’s positive momentum. The company also increased its full-year revenue guidance to $1.285-$1.290 billion and its non-GAAP operating margin guidance to 13-13.5%. Analysts expressed confidence in Procore’s sales productivity and execution, with KeyBanc maintaining an Overweight rating on the stock. These developments reflect a positive outlook on Procore’s financial health and market position.

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