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Elisa Steele, a director at Procore Technologies , Inc. (NYSE:PCOR), recently sold a significant portion of her holdings in the company. According to a recent SEC filing, Steele sold 4,000 shares of Procore Technologies’ common stock on February 19, 2025, at a price of $88.50 per share, near the stock’s 52-week high of $88.92. This transaction amounted to a total value of $354,000. Following the sale, Steele retains ownership of 52,110 shares of the company, which represents a stake in the $12.26 billion market cap company.The sale comes as Procore’s stock has surged approximately 39% over the past six months, with the company maintaining impressive gross profit margins of 82.2%. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, though analysts expect the company to achieve profitability this year. InvestingPro subscribers have access to 8 additional key insights about PCOR’s financial health and growth prospects.
In other recent news, Procore Technologies reported its fourth-quarter 2024 earnings, revealing a mixed financial performance. The company posted an 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. This revenue beat indicates strong sales execution, despite concerns about cost management due to the EPS miss. Both JMP Securities and KeyBanc Capital Markets responded positively to Procore’s performance, raising their price targets to $95 and $96, respectively, while maintaining their favorable ratings on the stock. These adjustments were influenced by Procore’s robust calculated remaining performance obligations (cRPO) and successful execution of large deals. Furthermore, Procore raised its full-year revenue guidance to $1.285-$1.290 billion, reflecting a 12% growth, and increased its non-GAAP operating margin guidance to 13-13.5%. The company’s strategic initiatives, including new product launches and AI investments, appear to have bolstered investor confidence.
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