Benjamin C. Singer, chief legal officer and secretary of Procore Technologies Inc. (NASDAQ: PCOR), sold 3,943 shares of the company's common stock on August 21 for $63.35 per share, totaling $249,789. The sale was conducted pursuant to a prearranged Rule 10b5-1 trading plan established on August 13, 2025.
The transaction occurred as Procore's stock traded at $62.09, slightly below the sale price. Separately, Procore withheld 5,849 shares on August 20 to cover tax obligations tied to the vesting of restricted stock units, valued at $62.92 per share and totaling $368,019. Following these transactions, Singer holds 86,931 shares of Procore directly.
Procore reported second-quarter adjusted earnings of $0.47 per share on revenue of $375 million, both exceeding analyst expectations. The company also raised its full-year outlook and posted its first quarter of GAAP operating profitability. Procore's gross profit margin stands at 80%, with a market capitalization of $9.43 billion.
DA Davidson maintained a Neutral rating on Procore's stock while raising its price target to $60 from $55. The firm cited updated guidance that projects 2027 operating margins approximately 460 basis points above current consensus estimates.
