Procore Technologies, Inc. has received an important update regarding its ownership structure. Morgan Stanley has filed a Schedule 13G/A, revealing that it now holds approximately 7.9% of Procore's common stock. This change signifies a notable interest from the investment firm in the software company's future and indicates a broader trend of institutional investment in the prepackaged software sector.

Background

Procore Technologies, Inc. is a leading provider of construction management software, classified under the SIC code 7372, which pertains to services in prepackaged software. The company is publicly traded on the New York Stock Exchange under the ticker symbol PCOR. Procore has been actively filing various reports, with the most recent being a Schedule 13G/A on November 13, 2026, and a Form 4 on the same day.

What the Filing Says

The recent filing by Morgan Stanley indicates that the firm, along with its subsidiary Morgan Stanley Capital Services LLC, beneficially owns a total of 12,001,076 shares of Procore, which includes shared voting and dispositive powers. The filing states, "This filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units of Morgan Stanley and its subsidiaries."

Impact

This update may affect various stakeholders, including existing shareholders, potential investors, and competitors within the prepackaged software industry. The increased stake by Morgan Stanley suggests a positive outlook on Procore's business prospects, which could influence other investors to reassess their positions in the company.

What's Next

The filing does not say what happens next.