Makan Divesh

Iconiq Strategic Partners VIII (10% owner) bought 610,291 shares at $11.82 avg ($7.2M) in 2 transactions at NTSK.

Iconiq Strategic Partners VIII Holdings, LP, a 10% owner of Netskope, executed 2 separate purchases totaling 610,291 shares for $7,216,048.98 at a blended average price of $11.82 on 2026-07-08, establishing an initial position in the company. The current price of $12.42 represents a modest gain from entry, though the stock trades -55.6% below its 52-week high of $27.99 and has recovered +38.0% over the past 30 days. The company is unprofitable with a net loss of $116,496,000 on quarterly revenue of $201,592,000, yet is growing revenue at +31.7% annually—a pattern typical of growth-stage cloud software firms burning cash while scaling. The scale of this filing (610.3K shares, $7.2M) from a substantial shareholder warrants attention to its potential signaling effect and to monitoring whether this represents a continuing commitment to NTSK's turnaround toward profitability.

ICONIQ Strategic Partners VI purchases 2,000,000 shares at $19.00 (2.00M shares, $38.0M) in 4 separate transactions on 2025-09-19.

ICONIQ Strategic Partners VI, a 10% owner of Netskope Inc, executed 4 separate purchases totaling 2,000,000 shares for $38,000,000.00 at $19.00 per share on the company's third trading day post-listing. The purchases represent a significant commitment during the early IPO period: the blended average purchase price of $19.00 compares to the current market price of $25.79 (as of 2025-09-22), indicating that the filing-date purchases occurred before recent upward price movement. The multi-transaction structure and large aggregate volume signal substantial capital deployment by a significant shareholder immediately following the company's public market entrance. Given the compressed timeline (3 trading days) and the magnitude of the stake being established, this activity reflects institutional conviction at the IPO price levels, though the ongoing derivative securities position referenced in the FLAG must be considered alongside the Table I holdings reported.

ICONIQ Strategic Partners IV divests 46,190 shares (46.2K) at $64.95–$65.41 for $3.0M; retains 3.11M shares post-sale.

ICONIQ Strategic Partners IV, a 10% owner, executed four separate sales totaling 46,190 shares for $3,000,561.94 on 2025-08-13 at prices ranging from $64.95 to $65.41, reducing holdings from 3,154,640 to 3,108,450 shares (-1.5% vs pre-transaction holdings). The stock has declined 9.4% over the prior 30 days and 8.2% over 90 days, currently trading at $65.26 (-26.1% from its 52-week high of $88.33). ICONIQ's prior sales at PCOR on 2025-06-13 showed 30-day gains of 8.5% to 11.0%, suggesting the stock moved favorably immediately after those earlier dispositions, though the 90-day outcomes remain unmeasurable. The company remains unprofitable (net income of $-21.1M in the latest quarter) despite 21.2% annual revenue growth, adding backdrop context to the sale's timing.

10% owner ICONIQ Strategic Partners V sold 90.9K shares for $10.0M at blended avg $109.99 on 2025-07-09

ICONIQ Strategic Partners V, a 10% owner, executed 6 separate sales totaling 90,917 shares for $10,000,103.55, reducing its stake by 12.3% to 648,606 shares post-transaction. The sales were priced between $108.00 and $110.26 with a blended average of $109.99, occurring when the stock trades at $106.96 currently—17.3% below its 52-week high of $129.37. This substantial liquidation by a major shareholder is material given the company's unprofitability (latest full fiscal year showed negative net income of $46,364,000) despite strong revenue growth of 25.6% year-over-year and a $3.8B market cap. The timing relative to the 52-week price range and the company's ongoing losses warrants investor attention to whether this reflects portfolio rebalancing at a major shareholder level or changing conviction in TTAN's path to profitability.

ICONIQ Strategic Partners IV (10% owner) sold 309,168 shares for $20.0M in 6 separate transactions on 2025-06-13, reducing stake to 3.14M shares.

ICONIQ Strategic Partners IV, a 10% owner, executed 6 separate sales totaling 309,168 shares for $20,020,739.31 at an average price of $64.76 on 2025-06-13, reducing its holding by 9.0% to 3,137,255 shares post-transaction. The stock currently trades at $66.68, up 2.97 points from the blended average sale price, and is -24.5% from its 52-week high of $88.33, indicating the position was disposed into a weakened market. PCOR posted revenue of $310,632,000.00 in the latest quarter with net income of -$32,989,000.00 (unprofitable), though the company is growing at +21.2% year-over-year; the 9.9B market cap reflects elevated expectations relative to current profitability. The sale's scale and the sustained holder percentage remaining (3.14M shares still on file) suggest this is a measured reduction rather than a full exit, consistent with managing a significant anchor position in a high-growth but currently loss-making enterprise.

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.