Planet Labs PBC (NYSE:PL) Director Kristen Robinson Sells 40,000 Shares of Company Stock

Planet Labs PBC (NYSE:PL) Director Kristen Robinson sold 40,000 shares of the firm’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $14.14, for a total value of $565,600.00. Following the transaction, the director directly owned 182,897 shares of the company’s stock, valued at $2,586,163.58. This represents a 17.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Planet Labs PBC Price Performance

NYSE:PL traded down $0.98 during mid-day trading on Friday, reaching $13.55. 10,470,379 shares of the stock were exchanged, compared to its average volume of 10,969,422. The company has a current ratio of 2.84, a quick ratio of 2.82 and a debt-to-equity ratio of 0.79. The business has a fifty day moving average price of $18.69 and a 200 day moving average price of $27.96. Planet Labs PBC has a 1-year low of $10.52 and a 1-year high of $51.76. The firm has a market capitalization of $4.93 billion, a PE ratio of -12.32 and a beta of 2.17.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $116.05 million during the quarter, compared to the consensus estimate of $104.53 million. Planet Labs PBC had a negative net margin of 95.13% and a negative return on equity of 93.11%. Planet Labs PBC’s revenue was up 58.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.07) EPS. Research analysts expect that Planet Labs PBC will post -0.63 earnings per share for the current fiscal year.

Institutional Trading of Planet Labs PBC

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Planet Labs PBC by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,013,187 shares of the company’s stock worth $112,167,000 after buying an additional 70,986 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Planet Labs PBC by 80.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,932,381 shares of the company’s stock worth $54,010,000 after acquiring an additional 861,306 shares in the last quarter. Tidal Investments LLC increased its position in shares of Planet Labs PBC by 5,339.2% in the second quarter. Tidal Investments LLC now owns 1,591,020 shares of the company’s stock worth $52,710,000 after acquiring an additional 1,561,769 shares in the last quarter. Tema ETFs LLC raised its holdings in shares of Planet Labs PBC by 75,804.6% during the second quarter. Tema ETFs LLC now owns 1,590,960 shares of the company’s stock valued at $52,709,000 after acquiring an additional 1,588,864 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Planet Labs PBC by 36.5% during the first quarter. Renaissance Technologies LLC now owns 1,021,180 shares of the company’s stock valued at $28,542,000 after acquiring an additional 273,300 shares during the period. Institutional investors and hedge funds own 41.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Craig Hallum set a $35.00 target price on shares of Planet Labs PBC in a report on Friday, September 4th. Barclays assumed coverage on Planet Labs PBC in a report on Friday, October 9th. They issued an “equal weight” rating and a $17.00 price target on the stock. Needham & Company LLC cut their price objective on Planet Labs PBC from $53.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, September 4th. Berenberg Bank initiated coverage on Planet Labs PBC in a research note on Wednesday, September 2nd. They set a “buy” rating and a $25.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $28.00 price objective on shares of Planet Labs PBC in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given 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 an average price target of $30.33.

About Planet Labs PBC

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.