Kevin J. O'Connor, a director of Procore Technologies, INC. (NYSE:PCOR), a construction management software company with a market capitalization of $10.65 billion, sold a total of 15,717 shares of common stock on July 9th and 10th, 2025. The sales, executed under a pre-arranged 10b5-1 trading plan, resulted in proceeds of approximately $1.14 million. According to InvestingPro data, the company maintains impressive gross profit margins of 81.2%.
On July 9th, O'Connor sold 5,247 shares at an average price of $72.58, with individual sales prices ranging from $72.07 to $73.005. An additional 2,445 shares were sold on the same day at an average price of $73.41, with prices ranging from $73.155 to $73.60.
The following day, July 10th, O'Connor continued selling shares. 3,412 shares were sold at an average price of $71.82, with prices ranging from $71.27 to $72.26. Another 4,280 shares were sold at an average price of $72.58, with prices ranging from $72.30 to $73.00. The final sale on July 10th involved 343 shares at an average price of $75.03, with prices ranging from $75.00 to $75.06.
The shares are held by the Kevin J. O'Connor Revocable Trust U/A DTD 06-13-19. Following these transactions, O'Connor indirectly holds 1,154,097 shares and directly holds 16,632 shares in Procore Technologies, INC.
In other recent news, Procore Technologies reported its first-quarter earnings for 2025, exceeding both revenue and earnings per share (EPS) forecasts. The company achieved an EPS of $0.23, surpassing the consensus estimate of $0.18, and posted revenue of $311 million, which was above the expected $302.6 million. Procore's calculated remaining performance obligations (cRPO) grew by 20% year-over-year, reaching $842.6 million, while total remaining performance obligations (RPO) rose by 28% to $1.290 billion. Despite these strong financial results, Stifel analysts reduced the company's price target from $93 to $75 but maintained a Buy rating. Conversely, Citizens JMP reaffirmed its Market Outperform rating and a $95 price target, reflecting confidence in Procore's market position. The company also provided guidance for the second quarter of 2025, expecting revenue between $310 million and $312 million, representing a 9-10% growth. Procore's management expressed satisfaction with the progress of recent go-to-market changes and remains optimistic about achieving their full-year revenue guidance.