SCHEDULE: AllianceBernstein L.P. Discloses 6.5% Stake in Procore Technologies

AllianceBernstein L.P. has reported beneficial ownership of 9,751,571 shares, representing 6.5% of the outstanding Common Stock of Procore Technologies Inc., as of March 31, 2026.

Summary

• AllianceBernstein L.P. has filed a Schedule 13G, indicating it beneficially owns 9,751,571 shares of Procore Technologies Inc. Common Stock.
• This holding represents 6.5% of the class of securities.
• The shares were acquired solely for investment purposes on behalf of client discretionary investment advisory accounts.
• AllianceBernstein L.P. has sole voting power over 9,406,682 shares and sole dispositive power over 9,746,381 shares.
• The filing date is March 31, 2026, and the reporting person is a Delaware entity.
• AllianceBernstein L.P. is a majority-owned subsidiary of Equitable Holdings, Inc. (EQH), but operates with independent management and makes independent decisions.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a positive signal, as a significant institutional investor like AllianceBernstein L.P. acquiring a substantial stake for investment purposes suggests confidence in the company's future performance and valuation.

Positives

• AllianceBernstein L.P.'s significant stake suggests confidence in Procore Technologies' long-term prospects.
• The acquisition of shares for investment purposes on behalf of client accounts indicates a belief in the company's value proposition.

Negatives

• The filing does not contain any negative financial or operational information about Procore Technologies itself, as it is a disclosure of ownership by an external entity.

Risks

• As an investment advisor, AllianceBernstein L.P. is subject to market risks and the performance of its investment strategies.
• Potential conflicts of interest could arise due to AllianceBernstein L.P. being a majority-owned subsidiary of Equitable Holdings, Inc., although independent operations are stated.

Future Outlook

The filing itself is a snapshot of current ownership and does not contain forward-looking statements or guidance from Procore Technologies Inc. AllianceBernstein L.P.'s investment implies a positive outlook for the company.

Management Comments

• AllianceBernstein L.P. acquired shares solely for investment purposes on behalf of client discretionary investment advisory accounts.
• AllianceBernstein operates under independent management and makes independent decisions from EQH and its respective subsidiaries.
• EQH calculates and reports beneficial ownership separately from AllianceBernstein pursuant to guidance provided by the Securities and Exchange Commission in Release Number 34-39538 (January 12, 1998).

Industry Context

StockSavvy.ai notes that significant institutional ownership, as indicated by this Schedule 13G filing from AllianceBernstein L.P., is a common indicator of investor confidence in the software and construction technology sector, where Procore Technologies operates.

Related Party Transactions

• AllianceBernstein L.P. is a majority-owned subsidiary of Equitable Holdings, Inc. (EQH). While operating independently, this relationship is disclosed.

Stakeholder Impact

• Shareholders: The increased institutional ownership may be viewed positively, potentially leading to greater stability and market interest.
• Employees: Continued investment by major financial institutions can signal a stable and growing company, potentially benefiting employee morale and job security.
• Creditors: A strong institutional investor base can enhance the company's financial standing and creditworthiness.
• Suppliers and Customers: A stable and well-supported company is more likely to maintain consistent business relationships.

Next Steps

• AllianceBernstein L.P. will continue to hold the shares for investment purposes on behalf of its clients.
• Procore Technologies Inc. will continue its business operations as usual, subject to market conditions and strategic execution.

Key Dates

Recommendation

This filing indicates a significant institutional investment, which is generally a positive sign. However, it is a disclosure of ownership and not an operational update from Procore Technologies itself. Therefore, while it suggests confidence from AllianceBernstein L.P., a 'hold' recommendation is appropriate without further operational or financial details from the company.

Keywords

Procore Technologies, Schedule 13G, AllianceBernstein L.P., Common Stock, Beneficial Ownership, Investment, SEC Filing, Equitable Holdings