Procore (PCOR) insider sales: ICONIQ disposes 46k shares at ~$65
Rhea-AI Filing Summary
ICONIQ Strategic Partners and related entities reported multiple open-market sales of Procore Technologies (PCOR) common stock on 08/13/2025. The report lists four sell transactions showing total reported disposals of 46,190 shares at weighted-average prices of $64.951 and $65.4133; each weighted price reflects multiple trades in narrow ranges. The filing also discloses extensive remaining indirect holdings across ICONIQ funds and affiliated trusts, with individual disclosures showing large beneficial positions held indirectly by ICONIQ funds and trusts and by principals Divesh Makan and Matthew Jacobson.
Positive
- None.
Negative
- Reported insider sales of 46,190 shares on 08/13/2025 at weighted-average prices of $64.951 and $65.4133
- Insider selling could be interpreted as a supply-side pressure signal though the filing provides no stated reason for the dispositions
Insights
TL;DR Insider group executed modest open-market sales while retaining sizable indirect stakes across multiple ICONIQ funds.
The transactions on 08/13/2025 are reported as sales totaling 46,190 shares executed at weighted-average prices of $64.951 and $65.4133, reflecting multiple trade prices in narrow ranges.
Material context: the report shows substantial remaining indirect ownership across multiple ICONIQ vehicles (positions range from hundreds of thousands to several million shares), and principals disclaim direct beneficial ownership except for pecuniary interests. The filing is a routine Section 16 disclosure of disposition, not an indication of change in control.
TL;DR Multiple affiliated entities and individuals reported coordinated sales but preserve large, indirect holdings—disclosure is detailed on ownership structure.
The explanatory footnotes outline the GP/LP and parent GP relationships and disclaimers of beneficial ownership, clarifying who holds indirect economic interests. Signatures from ICONIQ representatives and principals are present, confirming the filing.
From a governance standpoint this is a standard insider sale with clear attribution across affiliated funds and trustees, and it includes customary disclaimers of beneficial ownership for trusts and GP entities.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 17,001 | $64.951 | $1.10M |
| Sale | Common Stock | 28,161 | $64.951 | $1.83M |
| Sale | Common Stock | 384 | $65.4133 | $25K |
| Sale | Common Stock | 644 | $65.4133 | $42K |
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Footnotes (1)
- The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $64.39 to $65.39. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request. ICONIQ Strategic Partners III GP, L.P. ("ICONIQ III GP") is the sole general partner of each of ICONIQ Strategic Partners III, L.P. ("ICONIQ III"), ICONIQ Strategic Partners III-B, L.P. ("ICONIQ III-B") and ICONIQ Strategic Partners III Co-Invest, L.P., Series P ("ICONIQ III Co-Invest"). ICONIQ Strategic Partners III TT GP, Ltd. ("ICONIQ III Parent GP") is the sole general partner of ICONIQ III GP. ICONIQ Strategic Partners IV GP, L.P. ("ICONIQ IV GP") is the sole general partner of each of ICONIQ Strategic Partners IV, L.P. ("ICONIQ IV"), ICONIQ Strategic Partners IV-B, L.P. ("ICONIQ IV-B") and ICONIQ Strategic Partners IV Co-Invest, L.P., Series P ("ICONIQ IV Co-Invest"). ICONIQ Strategic Partners IV TT GP, Ltd. ("ICONIQ IV Parent GP") is the sole general partner of ICONIQ IV GP. (continued) ICONIQ Strategic Partners V GP, L.P. ("ICONIQ V GP") is the sole general partner of each of ICONIQ Strategic Partners V, L.P. ("ICONIQ V") and ICONIQ Strategic Partners V-B, L.P. ("ICONIQ V-B"). ICONIQ Strategic Partners V TT GP, Ltd. ("ICONIQ V Parent GP") is the sole general partner of ICONIQ V GP. ICONIQ Strategic Partners VI GP, L.P. ("ICONIQ VI GP") is the sole general partner of each of ICONIQ Strategic Partners VI, L.P. ("ICONIQ VI") and ICONIQ Strategic Partners VI-B, L.P. ("ICONIQ VI-B"). ICONIQ Strategic Partners VI TT GP, Ltd. ("ICONIQ VI Parent GP") is the sole general partner of ICONIQ VI GP. (continued) Divesh Makan ("Makan") and William J.G. Griffith ("Griffith") are the sole equity holders of ICONIQ III Parent GP. Makan, Griffith and Matthew Jacobson ("Jacobson") are the sole equity holders of each of ICONIQ IV Parent GP, ICONIQ V Parent GP and ICONIQ VI Parent GP. Each of ICONIQ III GP, ICONIQ III Parent GP, ICONIQ IV GP, ICONIQ IV Parent GP, ICONIQ V GP, ICONIQ V Parent GP, ICONIQ VI GP, ICONIQ VI Parent GP, Makan, Griffith and Jacobson disclaims beneficial ownership of the securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $65.40 to $65.43. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request. The shares are held by Makan through his family trust of which he is a trustee and another estate planning trust having an independent trustee. Makan disclaims beneficial ownership of the shares held by such trusts for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that Makan is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose. The shares are held by Jacobson through a trust of which he is a trustee. Jacobson disclaims beneficial ownership of the shares held by such trust for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that Jacobson is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.
