Transaction details
On April 10, 2026, Craig F. Courtemanche Jr., who serves as Chairman of the Board at PROCORE TECHNOLOGIES, INC. (NYSE:PCOR), sold 55,122 shares of the company’s common stock for approximately $2.67 million. The trades were executed at prices ranging from $47.45 to $49.54. According to a Form 4 filing with the Securities and Exchange Commission, Courtemanche also exercised options to acquire 56,122 shares of Procore Technologies common stock at an exercise price of $2.42, for a total value of $135815.
The public filing states the share sales were carried out pursuant to a 10b5-1 trading plan dated December 9, 2025.
Post-transaction ownership
After these transactions, Courtemanche’s direct holdings stood at 927580 shares of Procore Technologies common stock. The filing details additional indirect holdings: 2692461 shares through the Craig F. Courtemanche and Hillary Courtemanche Family Trust; 1155480 shares through the Courtemanche 2021 Irrevocable Trust; 527349 shares through The Courtemanche 2016 Irrevocable Trust; and 23736 shares held by his spouse.
Market context and company performance
The sale comes at a time when Procore’s stock has been under pressure, having fallen 9.3% over the past week and 32% over the last six months. Despite the pullback, InvestingPro analysis cited in the filing indicates the shares are currently trading below the tool’s Fair Value estimate and lists the stock among its Most Undervalued selections.
Separately, Procore reported Q4 2025 results that modestly topped consensus. Earnings per share were $0.37, compared with analyst expectations of $0.36. Revenue reached $349 million, above the forecast of $340.76 million.
Leadership changes and analyst reaction
The company announced two senior executive appointments effective April 1, 2026: Rachel Pyles will assume the role of Chief Financial Officer and Walt Hearn will serve as Chief Revenue Officer. These appointments accompany the transition of Howard Fu and Larry Stack into strategic advisory positions.
Analysts’ responses to the leadership shifts and recent results were mixed. Stifel maintained a Buy rating on Procore with a price target of $63.00, citing the management changes. Canaccord lowered its price target to $10.00 from $15.00, pointing to a muted growth outlook and reduced revenue growth assumptions. BMO Capital kept an Outperform rating and a $67.00 price target. Together, these actions reflect differing assessments among research firms about the company’s near-term growth trajectory and valuation.
Takeaway
The chairman’s sale - executed under a planned trading program - occurred alongside an earnings beat and a leadership reshuffle that has produced varied analyst reactions. The filing shows Courtemanche remains a substantial shareholder both directly and indirectly. How investors interpret the insider sale, the financial results, and the analyst guidance may continue to influence Procore’s stock performance in the near term.