DALLAS—P10, Inc. (NASDAQ:PX) has reported significant stock sales by its major shareholders, according to a recent SEC filing. The transactions, which took place over several days, involved the sale of Class A Common Stock totaling approximately $19.3 million. The shares were sold at prices ranging from $12.7773 to $13.66.
The sales were executed by several reporting owners, including 210 Capital, LLC, Webb C Clark, and Alpert Robert H, who are significant stakeholders in the company. Notably, the transactions reduced their holdings significantly, with the largest single transaction involving 800,000 shares sold at a weighted average price of $12.7773.
In addition to the sales, there was a purchase of 10,000 shares at $13.65, amounting to $136,500. This purchase was attributed to an inadvertent transaction not directed by Mr. Webb, who has agreed to voluntarily disgorge any short swing profits realized.
These transactions reflect ongoing activities by P10's major shareholders as they adjust their positions in the company. Investors will be watching closely to see how these changes in ownership might impact the company's stock performance moving forward.
In other recent news, P10 Inc (NYSE:PX) reported significant financial growth and strategic advancements. The company announced a 26% year-over-year increase in total revenue, reaching $74 million, and a 19% rise in fee-related earnings to approximately $35 million. P10 Inc's strategic growth plan has been successful, with $2.9 billion raised and deployed year-to-date, exceeding the full-year guidance. Stephens, a financial services firm, raised the price target for P10 Inc to $13 from $12 and maintained its Overweight rating on the company's stock. The acquisition of Qualitas Funds is set to enhance P10's European presence and investor base, with the deal expected to close in Q1 2025. P10 aims to double its fee-paying assets under management by 2029, focusing on organic growth and value-creating mergers and acquisitions. P10's management remains optimistic about future growth and margin expansion, targeting mid-40s to near 50% over the long term. Lastly, the firm declared a quarterly cash dividend of $0.035 per share and bought back 609,300 shares at an average price of $10.15 in Q3, despite pausing share buybacks due to ongoing material transactions. These recent developments underscore P10's commitment to operational efficiencies and disciplined capital allocation strategy, indicating continued momentum into 2025 and beyond.
InvestingPro Insights
The recent stock sales by major shareholders of P10, Inc. (NASDAQ:PX) come at a time when the company's stock is showing strong momentum. According to InvestingPro data, P10 has experienced significant returns over multiple time frames, with a 14.63% return in the last week, a 25.94% return over the last month, and an impressive 70.96% return over the past six months.
These robust returns have pushed the stock near its 52-week high, with the current price at 99.78% of that peak. This performance aligns with an InvestingPro Tip indicating that P10 is trading near its 52-week high, which may explain why some major shareholders are choosing to sell at these levels.
Despite the recent sales, P10's financial health appears solid. The company's revenue grew by 25.96% in the most recent quarter, and it maintains a healthy gross profit margin of 38.81%. Additionally, an InvestingPro Tip suggests that P10 has raised its dividend for three consecutive years, with a current dividend yield of 1.02%.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for P10, providing deeper insights into the company's financial position and market performance. These tips can be particularly valuable in understanding the context of the recent insider transactions and the company's overall investment potential.
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