Procore Technologies director Steele sells $94,500 in shares

Elisa Steele, a director at Procore Technologies Inc., traded 1,500 shares of the company's stock on August 19, 2026. The sale netted Ms. Steele $94,500, as the shares were traded at $63.0 apiece. This transaction was carried out as part of a pre-established 10b5-1 trading plan, which Steele had in place since March 12, 2026. After selling these shares, Ms. Steele now possesses 58,371 shares of Procore Technologies common stock.

The stock's performance has been noteworthy, with Procore's shares rising 5.8% over the previous week, hovering around $63.28. According to InvestingPro analysis, Procore appears to be undervalued at present. The construction management software company boasts impressive gross profit margins of 80% and holds more cash on its balance sheet than debt.

Investors looking for additional insights can turn to InvestingPro's 11 tips and in-depth analysis for PCOR. Procore Technologies recently disclosed its second-quarter results, which surpassed expectations, reporting adjusted earnings of $0.47 per share and revenue of $375 million. These results exceeded Wall Street estimates, which had projected earnings of $0.41 per share and revenue of $365.86 million.

Moreover, Procore has raised its full-year earnings outlook and achieved its first quarter of GAAP operating profitability. DA Davidson also took notice of these developments, updating its financial model for Procore and raising the price target for the company's stock from $55.00 to $60.00. Despite this, the firm maintains a Neutral rating. This update reflects Procore's new operating margin targets for 2027, which are approximately 460 basis points higher than current consensus expectations.

These latest developments underscore Procore's strong performance and positive outlook, as highlighted by DA Davidson. This report was AI-generated and reviewed by an editor.