DALLAS—Significant shareholders of P10, Inc. (NYSE:PX) have recently sold a substantial amount of the company’s stock, according to a recent filing with the Securities and Exchange Commission. The transactions were carried out by a group of investors, including 210 Capital, LLC, Covenant RHA Partners, L.P., and CCW/LAW Holdings, LLC, among others.
On November 6 and November 8, these investors sold a combined total of 392,187 shares of P10, Inc.’s Class A Common Stock, generating proceeds of approximately $4.58 million. The shares were sold at prices ranging from $11.54 to $11.69 per share. These sales were executed under a prearranged trading plan, which was adopted by 210/P10 on December 10, 2023.
Following these transactions, the reporting entities continue to hold significant positions in the company. As of the latest filing, 210 Capital, LLC and its associated entities retain ownership of over two million shares.
The sales were part of routine portfolio management and were conducted under Rule 10b5-1 trading plans, which allow company insiders to set up a predetermined plan to sell stock. This strategy helps to avoid concerns about insider trading.
In other recent news, P10 Inc (NYSE:). has announced a series of significant developments. The company reported a 14% increase in Q2 2024 revenue, reaching $71 million, and substantial growth in fee-paying assets under management. Despite a 3% decrease in Fee-Related Earnings, P10 Inc. raised and deployed $844 million in gross new assets, indicating a strategic focus on expansion. Further, P10 Inc. has expanded its European presence through the acquisition of Madrid-based Qualitas Equity Funds SGEIC, S.A. for an initial $63 million.
The company also announced the resignation of two board members, Robert Alpert and C. Clark Webb, in an amicable departure not related to any disagreements regarding operations, policies, or practices. In the realm of analyst ratings, P10 Inc. received mixed reviews. Stephens maintained an Overweight rating on the company, citing its unique market position and robust financial profile. Conversely, UBS downgraded P10’s stock from Buy to Neutral, citing concerns about near-term earnings potential and valuation.
These recent developments reflect P10 Inc.’s strategic expansion and potential near-term earnings concerns. Please note, this article contains no personal opinion, predictions, or conclusions, and solely reports recent developments regarding P10 Inc.
InvestingPro Insights
While significant shareholders have recently sold P10, Inc. (NYSE:PX) stock, the company’s financial metrics and market performance paint an intriguing picture. According to InvestingPro data, P10 has a market capitalization of $1.27 billion and is trading near its 52-week high, with the current price at 98.23% of that peak. This strong performance is underscored by a robust 26.03% price total return over the past three months.
InvestingPro Tips highlight that P10 is trading at a low P/E ratio relative to its near-term earnings growth, suggesting potential value for investors despite the recent insider sales. The company’s liquid assets exceeding short-term obligations indicate a solid financial position, which may provide reassurance to shareholders in light of the recent stock disposals.
It’s worth noting that P10 has demonstrated profitability over the last twelve months, with analysts predicting continued profitability this year. This positive outlook aligns with the company’s revenue growth of 15.82% over the last twelve months and a notable 25.96% quarterly revenue growth as of Q3 2024.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights that could further illuminate P10’s financial standing and growth prospects. Currently, there are 5 more InvestingPro Tips available for P10, which could provide valuable context to the recent insider selling activity and the company’s overall market position.
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