Procore Technologies chairman sells $3.15 million in shares

Procore Technologies Chairman Craig F. Courtemanche Jr. sold 56,122 shares of the company's common stock on October 12, 2026, for an estimated $3.15 million. These shares were exchanged at prices between $55.69 and $56.725 under a pre-established 10b5-1 trading plan initiated on December 9, 2025. The stock is currently priced at $55.97, which InvestingPro analysis indicates is potentially undervalued compared to its fair value.

Procore Technologies operates in the construction software sector and shows financial strength with more cash than debt on their balance sheet. Prior to selling these shares, Courtemanche bought 56,122 shares of common stock through stock option exercise at $2.42 per share, totaling $135,815. The options were vested over 60 months starting from February 5, 2016, contingent on continued employment.

After these transactions, Courtemanche holds 908,316 shares directly and indirectly controls additional shares through various trusts. Procore reported strong second-quarter earnings, surpassing analyst expectations with adjusted earnings of $0.47 per share on revenue of $375 million. The company expects to achieve full-year profitability under GAAP standards and its first quarter of operating profitability.

Analysts have varying opinions on Procore's market position, with some raising price targets while others express caution amidst construction industry challenges.