Tema ETFs LLC Has $52.71 Million Position in Planet Labs PBC $PL

Tema ETFs LLC boosted its stake in shares of Planet Labs PBC (NYSE:PL) by 75,804.6% in the second quarter, Holdings Channel reports. The institutional investor owned 1,590,960 shares of the company’s stock after acquiring an additional 1,588,864 shares during the period. Planet Labs PBC accounts for 1.7% of Tema ETFs LLC’s holdings, making the stock its 9th biggest position. Tema ETFs LLC’s holdings in Planet Labs PBC were worth $52,709,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Capital Advisory LLC bought a new position in shares of Planet Labs PBC in the 1st quarter worth $28,000. Western Wealth Management LLC bought a new stake in Planet Labs PBC during the first quarter valued at about $28,000. Parkside Financial Bank & Trust grew its stake in Planet Labs PBC by 92.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock valued at $31,000 after purchasing an additional 745 shares during the last quarter. Baillie Gifford & Co. purchased a new position in Planet Labs PBC in the fourth quarter valued at about $32,000. Finally, Pittenger & Anderson Inc. raised its holdings in Planet Labs PBC by 40.9% in the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock worth $38,000 after purchasing an additional 395 shares in the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Planet Labs PBC Trading Up 3.0%

Shares of NYSE:PL opened at $23.80 on Wednesday. The business’s 50-day moving average is $27.04 and its 200 day moving average is $30.39. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.81 and a quick ratio of 2.78. Planet Labs PBC has a 1 year low of $6.10 and a 1 year high of $51.76. The firm has a market capitalization of $8.48 billion, a P/E ratio of -20.87 and a beta of 2.11.

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

Insider Buying and Selling

In other Planet Labs PBC news, Director John W. Raymond sold 6,494 shares of the company’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 transaction of $169,883.04. Following the transaction, the director owned 37,114 shares in the company, valued at approximately $970,902.24. This represents a 14.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert H. Schingler sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $25.92, for a total transaction of $648,000.00. Following the transaction, the insider owned 225,171 shares in the company, valued at $5,836,432.32. The trade was a 9.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 171,122 shares of company stock worth $4,148,906 in the last three months. Corporate insiders own 16.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Northland Securities set a $50.00 price target on shares of Planet Labs PBC in a research report on Friday, June 5th. New Street Research began coverage on shares of Planet Labs PBC in a research report on Wednesday, May 13th. They issued a “sell” rating and a $28.00 price objective on the stock. Wedbush started coverage on shares of Planet Labs PBC in a research note on Wednesday, July 1st. They set an “outperform” rating and a $50.00 price objective for the company. Craig Hallum increased their target price on shares of Planet Labs PBC from $36.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Finally, Zacks Research upgraded shares of Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $35.36.

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.