Lbp Am Sa Trims Stock Position in Planet Labs PBC $PL

Lbp Am Sa lessened its holdings in Planet Labs PBC (NYSE:PL) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 874,527 shares of the company’s stock after selling 59,631 shares during the quarter. Lbp Am Sa’s holdings in Planet Labs PBC were worth $11,351,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Canada Pension Plan Investment Board boosted its position in Planet Labs PBC by 0.3% during the second quarter. Canada Pension Plan Investment Board now owns 7,820,400 shares of the company’s stock worth $47,704,000 after purchasing an additional 20,400 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Planet Labs PBC by 245.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,453,131 shares of the company’s stock valued at $14,964,000 after purchasing an additional 1,743,474 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Planet Labs PBC by 54.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock worth $6,274,000 after acquiring an additional 653,173 shares during the period. Marshall Wace LLP increased its holdings in shares of Planet Labs PBC by 10,305.7% during the 2nd quarter. Marshall Wace LLP now owns 1,509,248 shares of the company’s stock worth $9,206,000 after buying an additional 1,494,744 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Planet Labs PBC by 477.9% in the 2nd quarter. Bank of America Corp DE now owns 1,349,603 shares of the company’s stock valued at $8,233,000 after purchasing an additional 1,116,055 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Insiders Place Their Bets

In related news, Director Vijaya Gadde sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $26.77, for a total transaction of $535,400.00. Following the completion of the sale, the director directly owned 250,169 shares in the company, valued at approximately $6,697,024.13. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ashley F. Johnson sold 150,731 shares of the stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $27.01, for a total transaction of $4,071,244.31. Following the completion of the sale, the chief financial officer owned 1,956,101 shares of the company’s stock, valued at approximately $52,834,288.01. The trade was a 7.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 292,348 shares of company stock worth $7,323,958 over the last quarter. Company insiders own 17.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PL. Morgan Stanley upped their target price on Planet Labs PBC from $20.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. National Bankshares set a $12.30 target price on shares of Planet Labs PBC in a research note on Tuesday, December 16th. Citizens Jmp cut shares of Planet Labs PBC from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group restated a “neutral” rating and set a $16.40 price objective on shares of Planet Labs PBC in a research note on Tuesday, January 20th. Finally, Citigroup increased their target price on Planet Labs PBC from $19.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Planet Labs PBC presently has an average rating of “Hold” and an average price target of $20.64.

Planet Labs PBC Price Performance

Shares of Planet Labs PBC stock opened at $25.90 on Tuesday. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 1.28. The stock has a market cap of $8.12 billion, a PE ratio of -61.67 and a beta of 1.94. Planet Labs PBC has a 52 week low of $2.79 and a 52 week high of $30.90. The company’s 50-day moving average price is $18.75 and its two-hundred day moving average price is $13.04.

About Planet Labs PBC

Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company’s multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet’s imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.

Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.