Planet Labs PBC (NYSE:PL) Director Sells $169,883.04 in Stock

Planet Labs PBC (NYSE:PL) Director John Raymond sold 6,494 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $26.16, for a total value of $169,883.04. Following the completion of the transaction, the director directly owned 37,114 shares in the company, valued at approximately $970,902.24. The trade was a 14.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Planet Labs PBC Stock Performance

PL traded down $0.37 during trading on Tuesday, hitting $25.59. The stock had a trading volume of 5,291,109 shares, compared to its average volume of 13,441,515. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.78 and a current ratio of 2.81. The firm has a market capitalization of $9.12 billion, a P/E ratio of -22.45 and a beta of 2.06. The company’s 50-day moving average price is $35.93 and its 200 day moving average price is $30.53. Planet Labs PBC has a twelve month low of $5.87 and a twelve month high of $51.76.

Planet Labs PBC (NYSE:PL) last released its earnings results on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The company had revenue of $94.15 million during the quarter, compared to analysts’ expectations of $90.39 million. The company’s revenue for the quarter was up 42.1% compared to the same quarter last year. On average, equities research analysts forecast that Planet Labs PBC will post -0.92 EPS for the current fiscal year.

Analyst Ratings Changes

PL has been the subject of a number of recent analyst reports. Wedbush assumed coverage on shares of Planet Labs PBC in a research report on Wednesday, July 1st. They issued an “outperform” rating and a $50.00 price objective for the company. Morgan Stanley boosted their target price on Planet Labs PBC from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 25th. Zacks Research raised Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Weiss Ratings raised Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Finally, Craig Hallum lifted their price target on Planet Labs PBC from $36.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $35.36.

Institutional Trading of Planet Labs PBC

A number of institutional investors have recently bought and sold shares of the company. First Community Trust NA grew its holdings in Planet Labs PBC by 46.2% in the second quarter. First Community Trust NA now owns 6,018 shares of the company’s stock valued at $199,000 after purchasing an additional 1,903 shares during the last quarter. Tema ETFs LLC raised its stake in shares of Planet Labs PBC by 75,804.6% during the 2nd quarter. Tema ETFs LLC now owns 1,590,960 shares of the company’s stock worth $52,709,000 after buying an additional 1,588,864 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Planet Labs PBC by 10.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 88,300 shares of the company’s stock worth $2,925,000 after buying an additional 8,400 shares in the last quarter. Focus Financial Network Inc. purchased a new stake in shares of Planet Labs PBC in the 2nd quarter worth about $219,000. Finally, Valeo Financial Advisors LLC grew its stake in Planet Labs PBC by 5.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 19,017 shares of the company’s stock valued at $630,000 after acquiring an additional 1,038 shares during the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

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.