ICONIQ STRATEGIC PARTNERS II, L.P.

ICONIQ Strategic Partners II sold 343,317 shares for $25.0M over 2024-11-12/13; retains 1.65M shares (10% holder)

ICONIQ Strategic Partners II, a 10% owner, executed 10 separate sales totaling 343,317 shares for $25,004,217.86 at blended average price $72.83 across November 12–13, 2024, reducing holdings by 17.2% to 1,647,603 shares while maintaining a significant 1.65M share position. The current stock price of $71.61 is 13.0% below the 52-week high of $82.36, yet the stock has appreciated 14.0% over the past 30 days and 24.5% over 90 days. At PCOR specifically, ICONIQ's four prior measurable sales (December 2023 and November 2023) all saw the stock rise post-sale, posting +17.0% to +35.8% 90-day returns—indicating the sales were poorly timed against subsequent upside. The company remains unprofitable (negative $26.4M net income in the latest quarter) despite strong 31.9% annual revenue growth, presenting a mixed fundamental backdrop. This large but non-controlling divestiture by a major shareholder warrants monitoring of the insider's conviction and market conditions, particularly given PCOR's volatility and the divergence between recent stock momentum and the company's current profitability status.

ICONIQ Strategic Partners II sold 28,516 shares of PCOR at $66.54 (Nov 4), reducing stake to 870.7K shares amid 31.9% annual revenue growth but persistent unprofitability.

ICONIQ Strategic Partners II, a 10% owner, sold 28,516 shares at $66.54 on 2024-11-04, totaling $1,897,511.67, trimming holdings by 28,516 shares (-3.2% from pre-transaction levels). The company remains unprofitable with net income of $-26,388,000.00 against revenue of $295,885,000.00 in the latest quarter; however, annual revenue growth stands at +31.9%, indicating strong top-line momentum. The stock has recovered substantially over 30 days (+11.3%) and 90 days (+29.6%), trading at $67.07, near the transaction price but -18.6% from its 52-week high of $82.36. Across ICONIQ's prior 5 trades at PCOR (all sells in December 2023), none of these earlier sales were well-timed at the 90-day mark—subsequent price movements were positive, indicating the insider did not sell ahead of declines at this ticker. The current sale occurs as the stock has already recovered from earlier losses, and the modest 3.2% reduction in holdings suggests a partial adjustment rather than a major conviction shift.