The recent activity concerning Procore Technologies, Inc. (NASDAQ:PCOR) includes a significant insider transaction involving its Chairman of the Board, Craig F. Courtemanche Jr. On May 11, 2026, Mr. Courtemanche sold common stock valued at approximately $2.86 million.
These sales were executed across multiple transactions, with individual share prices ranging between $50.26 and $52.69 per share. The total disposition involved the sale of 56,122 shares of common stock. It is important to note that these transactions followed a pre-arranged trading plan, specifically a 10b5-1 plan, which had been established on December 9, 2025.
Detailed Breakdown of Transactions
The total sale was broken down into three distinct components based on the weighted average price and individual price ranges:
- First component: 24,286 shares were sold at a weighted average price of $50.26 per share. Individual prices observed for this portion ranged from $49.74 to $50.71.
- Second component: An additional 21,287 shares were disposed of at a weighted average price of $51.16 per share. The individual selling prices for these units spanned from $50.83 to $51.75.
- Third component: The remaining 10,549 shares were sold at a weighted average price of $52.69 per share. The corresponding individual price range for this final tranche was between $52.21 and $53.09.
- Through the Craig F. Courtemanche and Hillary Courtemanche Family Trust: 2,692,461 shares.
- Via the Courtemanche 2021 Irrevocable Trust: 1,155,480 shares.
- Through The Courtemanche 2016 Irrevocable Trust: 527,349 shares.
- Indirectly through his spouse: 23,736 shares.
Prior to the execution of these sales, Mr. Courtemanche had previously increased his holdings through the exercise of stock options. Specifically, he acquired 56,122 shares of common stock at a price point of $2.42 per share, resulting in a total cost of $135,815. These stock options were structured to vest over time, scheduled for six equal monthly installments beginning on the one-month anniversary following February 5, 2016.
Current Ownership Structure
Following these recent divestitures, Mr. Courtemanche maintains a direct ownership stake of 927,580 shares of Procore Technologies, Inc. common stock. His total indirect holdings are also substantial and include several trusts and family entities:
In addition to these holdings, he retains 280,610 stock options.
The transaction data is viewed against the backdrop of recent market performance and company financials. As of the reporting period, PCOR shares had declined by 14% over the preceding week, trading at $45.99 per share. This price level was noted to be just above the stock's 52-week low of $45.54.
From an analytical standpoint, one analysis provided by InvestingPro suggested that, based on Fair Value metrics, the stock appeared undervalued at its current trading levels. The platform also offered investors 11 supplemental ProTips for deeper insights into PCOR.
Beyond insider activity, the company’s recent financial disclosures provide additional context. In its first-quarter 2026 earnings report, Procore Technologies reported a revenue of $359.28 million. This figure surpassed the anticipated revenue of $352.82 million. However, the results for earnings per share (EPS) represented a shortfall, with the company reporting $0.34 compared to the forecast of $0.36.
Despite achieving a revenue beat, investor apprehension was visible due to the miss in EPS. Furthermore, D.A. Davidson maintained a Neutral rating on Procore Technologies, setting a price target of $55.00, and cited concerns regarding the company’s margin outlook. The recent earnings report indicated that the revenue beat amounted to approximately 2%, which was slightly below the company's eight-quarter average of roughly 3%. These mixed developments underscore the operational challenges Procore faces in balancing efforts between achieving top-line revenue expansion and maintaining robust profitability.
Market Data Snapshot
Recent market data showed PCOR trading at $45.99, with a day change of -2.10 (-4.37%). The after-hours closing price was 19:47:40, showing an increase of +0.90 (+1.96%) to $46.89.
The combination of a revenue beat alongside an EPS miss, coupled with the chairman's significant sales activity and trading near 52-week lows, suggests ongoing volatility and valuation scrutiny surrounding Procore Technologies. The company’s ability to translate growth into sustained profit remains a key focus for analysts and investors alike.