Planet Labs PBC $PL Shares Sold by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC cut its holdings in Planet Labs PBC (NYSE:PL) by 48.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,500 shares of the company’s stock after selling 21,500 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Planet Labs PBC were worth $444,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PL. Barclays PLC raised its position in shares of Planet Labs PBC by 758.1% in the 3rd quarter. Barclays PLC now owns 3,727,743 shares of the company’s stock valued at $48,386,000 after purchasing an additional 3,293,333 shares during the last quarter. Invesco Ltd. increased its stake in Planet Labs PBC by 265.6% during the 3rd quarter. Invesco Ltd. now owns 3,450,479 shares of the company’s stock valued at $44,787,000 after purchasing an additional 2,506,595 shares in the last quarter. Two Sigma Investments LP increased its stake in Planet Labs PBC by 257.5% during the 3rd quarter. Two Sigma Investments LP now owns 2,362,275 shares of the company’s stock valued at $30,662,000 after purchasing an additional 1,701,535 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Planet Labs PBC by 9.7% in the third quarter. Vanguard Group Inc. now owns 18,551,697 shares of the company’s stock worth $240,801,000 after buying an additional 1,637,880 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Planet Labs PBC by 10,305.7% during the second 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 period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PL shares. Needham & Company LLC boosted their price objective on shares of Planet Labs PBC to $40.00 and gave the company a “buy” rating in a report on Friday, March 20th. Deutsche Bank Aktiengesellschaft lifted their price target on Planet Labs PBC from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Northland Securities set a $28.00 price target on Planet Labs PBC in a research note on Tuesday, January 13th. Zacks Research upgraded Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Finally, Morgan Stanley lifted their target price on Planet Labs PBC from $26.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 25th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.25.

Insider Buying and Selling at Planet Labs PBC

In other Planet Labs PBC news, CFO Ashley F. Johnson sold 150,731 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $27.01, for a total value of $4,071,244.31. Following the sale, the chief financial officer owned 1,956,101 shares in the company, valued at approximately $52,834,288.01. This represents a 7.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Vijaya Gadde sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $26.77, for a total transaction of $535,400.00. Following the sale, the director directly owned 250,169 shares in the company, valued at $6,697,024.13. The trade was a 7.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 218,566 shares of company stock valued at $5,896,276. 17.53% of the stock is owned by company insiders.

Planet Labs PBC Trading Down 9.1%

NYSE PL opened at $28.05 on Tuesday. Planet Labs PBC has a 1 year low of $2.79 and a 1 year high of $37.05. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.65 and a quick ratio of 1.64. The company has a market capitalization of $9.71 billion, a PE ratio of -35.96 and a beta of 1.95. The company has a fifty day moving average of $25.75 and a 200 day moving average of $19.00.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.43). Planet Labs PBC had a negative net margin of 80.22% and a negative return on equity of 69.61%. The company had revenue of $86.82 million for the quarter, compared to analysts’ expectations of $78.17 million. The company’s quarterly revenue was up 41.1% on a year-over-year basis. Research analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current year.

Planet Labs PBC Profile

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.