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Director William J.G. Griffith, a ten percent owner of Procore Technologies, INC. (NYSE:PCOR), indirectly sold a total of 46,190 shares of common stock on August 13, 2025. The sales were executed at weighted average prices ranging from $64.951 to $65.4133, resulting in a total transaction value of approximately $3,000,561. According to InvestingPro data, the stock is currently trading slightly above its Fair Value, with shares down 26% over the past six months despite maintaining impressive gross profit margins of 80%.
The sales were conducted in multiple transactions through ICONIQ Strategic Partners IV, L.P. and ICONIQ Strategic Partners IV-B, L.P. Following these transactions, ICONIQ Strategic Partners IV, L.P. holds 1,876,073 shares and ICONIQ Strategic Partners IV-B, L.P. holds 3,108,450 shares. The company, currently valued at $9.84 billion, maintains a strong balance sheet with more cash than debt.
Griffith also indirectly holds shares through ICONIQ Strategic Partners III, L.P., ICONIQ Strategic Partners III-B, L.P., ICONIQ Strategic Partners III Co-Invest, L.P., Series P, ICONIQ Strategic Partners IV Co-Invest, L.P., Series P, ICONIQ Strategic Partners V, L.P., ICONIQ Strategic Partners V-B, L.P., ICONIQ Strategic Partners VI, L.P., and ICONIQ Strategic Partners VI-B, L.P. Griffith also holds shares through his family trust. For deeper insights into PCOR’s valuation and financial health metrics, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Procore Technologies reported its second-quarter earnings for 2025, surpassing Wall Street expectations with notable figures. The company achieved earnings per share (EPS) of $0.35, exceeding the consensus estimate of $0.26, and reported revenue of $324 million, which was above the anticipated $311.99 million. Despite these strong results, Citizens JMP downgraded Procore’s stock rating from Market Outperform to Market Perform. Meanwhile, DA Davidson initiated coverage on Procore Technologies with a Neutral rating and set a price target of $70.00. Analyst Gil Luria from DA Davidson based this rating on the firm’s updated 2026 revenue estimate. These developments reflect recent analyst assessments and financial performances of Procore Technologies.
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