Palantir a high-risk investment with ’a one-of-a-kind growth and margin model’
Clifton A. Pemble, President and CEO of Garmin Ltd . (NASDAQ:NYSE:GRMN), recently sold a substantial portion of his holdings in the company. According to a recent SEC filing, Pemble sold shares totaling approximately $1.6 million in the $43.66 billion market cap company. The transactions were executed on February 26, 2025, under a pre-established Rule 10b5-1 trading plan. InvestingPro analysis indicates the stock is trading above its Fair Value, following an impressive 69% return over the past year.
The sales were executed in multiple trades at prices ranging from $224.9263 to $227.5639 per share. Following these transactions, Pemble still retains significant ownership, with 149,525 registered shares held directly. The company maintains strong fundamentals with a gross profit margin of 58.7% and holds more cash than debt on its balance sheet.
Additionally, the filing noted a prior transaction on February 25, 2025, where 10,844 shares were withheld to cover tax liabilities resulting from vested restricted stock units. Despite these sales, Pemble maintains substantial vested and unvested stock positions in Garmin, reflecting continued alignment with the company’s long-term performance. For deeper insights into Garmin’s valuation and financial health metrics, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Garmin Ltd. reported outstanding financial results for the fourth quarter of 2024, with revenue reaching $1.82 billion, a 23% increase year-over-year, and earnings per share (EPS) of $2.41, surpassing the forecast of $1.91. The company achieved record revenue across all five business segments, driven by significant growth in fitness, auto OEM, and outdoor categories. For the full year, Garmin’s revenue climbed 20% to a record $6.30 billion, with all segments posting record annual revenues. Garmin’s gross margin for Q4 and the full year 2024 expanded by 100 basis points to 59%, attributed to its efficient operations and integrated manufacturing capabilities. Looking ahead, Garmin provided positive guidance for 2025, projecting an 8% revenue growth to $6.8 billion and a proposed 20% increase in its annual dividend to $3.60 per share. In the realm of analyst activity, Tigress Financial Partners raised Garmin’s stock target to $285 and maintained a Strong Buy rating, citing continuous innovation and new product development as key growth drivers. The firm also highlighted Garmin’s robust product portfolio and vertically integrated manufacturing model as competitive advantages.
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