Planet Labs PBC $PL Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp grew its stake in shares of Planet Labs PBC (NYSE:PL) by 22.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 860,280 shares of the company’s stock after purchasing an additional 160,280 shares during the quarter. King Luther Capital Management Corp owned approximately 0.28% of Planet Labs PBC worth $11,166,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Planet Labs PBC by 245.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,453,131 shares of the company’s stock valued at $14,964,000 after acquiring an additional 1,743,474 shares during the period. Vanguard Group Inc. increased its position in Planet Labs PBC by 9.7% in the 3rd quarter. Vanguard Group Inc. now owns 18,551,697 shares of the company’s stock valued at $240,801,000 after acquiring an additional 1,637,880 shares during the period. Marshall Wace LLP raised its stake in Planet Labs PBC by 10,305.7% during the 2nd quarter. Marshall Wace LLP now owns 1,509,248 shares of the company’s stock valued at $9,206,000 after acquiring an additional 1,494,744 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Planet Labs PBC in the 2nd quarter valued at approximately $7,723,000. Finally, Bank of America Corp DE increased its holdings in shares of Planet Labs PBC by 477.9% in the second quarter. Bank of America Corp DE now owns 1,349,603 shares of the company’s stock valued at $8,233,000 after purchasing an additional 1,116,055 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Insider Buying and Selling at Planet Labs PBC

In related news, Director Kristen Robinson sold 47,835 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $26.96, for a total value of $1,289,631.60. Following the sale, the director owned 222,897 shares of the company’s stock, valued at approximately $6,009,303.12. This represents a 17.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vijaya Gadde sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $26.77, for a total value of $535,400.00. Following the transaction, the director directly owned 250,169 shares of the company’s stock, valued at $6,697,024.13. The trade was a 7.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 292,348 shares of company stock valued at $7,323,958 over the last 90 days. 17.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PL. Wedbush lifted their price objective on shares of Planet Labs PBC from $20.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, January 13th. Craig Hallum reaffirmed a “buy” rating and issued a $30.00 target price on shares of Planet Labs PBC in a report on Tuesday, January 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Planet Labs PBC in a report on Thursday, January 22nd. Zacks Research upgraded shares of Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Finally, Morgan Stanley lifted their price objective on Planet Labs PBC from $20.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.88.

Planet Labs PBC Trading Up 5.6%

Shares of PL opened at $25.08 on Friday. Planet Labs PBC has a twelve month low of $2.79 and a twelve month high of $30.90. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $7.87 billion, a P/E ratio of -59.71 and a beta of 1.94. The firm’s 50-day moving average is $22.79 and its two-hundred day moving average is $15.08.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings results on Wednesday, December 10th. The company reported $0.00 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 31.01% and a negative net margin of 45.87%.The company’s revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) EPS. On average, research analysts predict 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.