IQ EQ FUND MANAGEMENT IRELAND Ltd Has $2.86 Million Stake in Planet Labs PBC $PL

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Planet Labs PBC (NYSE:PL) by 34.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 220,400 shares of the company’s stock after purchasing an additional 56,452 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.07% of Planet Labs PBC worth $2,861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PL. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Planet Labs PBC during the 2nd quarter valued at about $1,947,000. Conestoga Capital Advisors LLC grew its holdings in Planet Labs PBC by 13.1% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 427,365 shares of the company’s stock worth $2,607,000 after acquiring an additional 49,615 shares during the last quarter. Rice Hall James & Associates LLC acquired a new position in Planet Labs PBC in the third quarter valued at approximately $4,392,000. Eleva Capital SAS bought a new stake in shares of Planet Labs PBC in the 2nd quarter valued at about $787,000. Finally, Ranger Investment Management L.P. acquired a new position in Planet Labs PBC in the third quarter valued at about $2,688,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on PL shares. Wedbush boosted their price target on Planet Labs PBC from $20.00 to $28.00 and gave the company an “outperform” rating in a report on Tuesday, January 13th. Craig Hallum reissued a “buy” rating and set a $30.00 target price on shares of Planet Labs PBC in a report on Tuesday, January 13th. Citizens Jmp cut Planet Labs PBC from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a research report on Thursday, January 22nd. Finally, National Bankshares set a $12.30 price target on Planet Labs PBC in a research note on Tuesday, December 16th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.88.

Insider Buying and Selling

In related news, insider Robert H. Schingler sold 73,782 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $19.35, for a total transaction of $1,427,681.70. Following the sale, the insider owned 1,164,729 shares of the company’s stock, valued at approximately $22,537,506.15. This represents a 5.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ashley F. Johnson sold 150,731 shares of Planet Labs PBC stock in a transaction dated 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 directly owned 1,956,101 shares of the company’s stock, valued at approximately $52,834,288.01. This trade represents a 7.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 292,368 shares of company stock valued at $7,324,211. Corporate insiders own 17.53% of the company’s stock.

Planet Labs PBC Stock Up 8.9%

Shares of NYSE PL opened at $22.25 on Friday. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 1.28. Planet Labs PBC has a 12-month low of $2.79 and a 12-month high of $30.90. The company’s fifty day simple moving average is $21.03 and its 200 day simple moving average is $14.06. The firm has a market cap of $6.98 billion, a PE ratio of -52.98 and a beta of 1.94.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings results on Wednesday, December 10th. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.02. The business had revenue of $81.25 million for the quarter, compared to analysts’ expectations of $72.02 million. Planet Labs PBC had a negative net margin of 45.87% and a negative return on equity of 31.01%. The firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) EPS. As a group, sell-side analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Planet Labs PBC Company 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.