Planet Labs PBC (NYSE:PL) Stock: Insider John Raymond Sells 6,494 Shares

Planet Labs PBC (NYSE:PL) Director John Raymond sold 6,494 shares of the business’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $15.23, for a total value of $98,903.62. Following the transaction, the director owned 30,620 shares in the company, valued at approximately $466,342.60. This represents a 17.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Planet Labs PBC Price Performance

PL stock opened at $14.57 on Friday. Planet Labs PBC has a 1 year low of $10.52 and a 1 year high of $51.76. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.84 and a quick ratio of 2.82. The firm has a market capitalization of $5.30 billion, a PE ratio of -13.25 and a beta of 2.17. The business has a 50 day simple moving average of $18.90 and a 200-day simple moving average of $28.06.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Planet Labs PBC had a negative return on equity of 93.11% and a negative net margin of 95.13%. The firm had revenue of $116.05 million for the quarter, compared to the consensus estimate of $104.53 million. During the same quarter last year, the business posted ($0.07) earnings per share. The firm’s revenue was up 58.2% compared to the same quarter last year. Equities research analysts anticipate that Planet Labs PBC will post -0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. American Capital Advisory LLC purchased a new position in Planet Labs PBC in the first quarter worth approximately $28,000. Western Wealth Management LLC acquired a new stake in Planet Labs PBC during the first quarter worth $28,000. Pittenger & Anderson Inc. raised its position in Planet Labs PBC by 40.9% in the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock valued at $38,000 after purchasing an additional 395 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in Planet Labs PBC in the first quarter valued at $41,000. Finally, Fortitude Family Office LLC raised its position in Planet Labs PBC by 3,035.0% in the third quarter. Fortitude Family Office LLC now owns 2,508 shares of the company’s stock valued at $41,000 after purchasing an additional 2,428 shares during the period. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PL. Berenberg Bank began coverage on Planet Labs PBC in a report on Wednesday, September 2nd. They set a “buy” rating and a $25.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of Planet Labs PBC from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Barclays began coverage on shares of Planet Labs PBC in a report on Friday, October 9th. They issued an “equal weight” rating and a $17.00 price objective for the company. Northland Securities set a $40.00 price objective on shares of Planet Labs PBC in a research report on Friday, September 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a research report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Planet Labs PBC currently has an average rating of “Hold” and a consensus target price of $31.56.

Planet Labs PBC Company Profile

Planet Labs PBC is an Earth-imaging and geospatial data company that operates a constellation of satellites designed to provide frequent, high-resolution imagery of the planet. Its data is used to monitor changes in land, infrastructure, agriculture, forests, oceans and other environments.

The company’s products include PlanetScope, a satellite imagery service intended to provide frequent coverage of large areas; SkySat, which offers higher-resolution imagery and video capabilities; and other satellite and data products, including hyperspectral imaging initiatives.