Planet Labs PBC $PL Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC lifted its holdings in shares of Planet Labs PBC (NYSE:PL) by 85.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 115,076 shares of the company’s stock after buying an additional 53,021 shares during the period. Intech Investment Management LLC’s holdings in Planet Labs PBC were worth $2,269,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PL. MCF Advisors LLC acquired a new stake in shares of Planet Labs PBC during the 3rd quarter worth about $32,000. Baillie Gifford & Co. acquired a new stake in shares of Planet Labs PBC during the 4th quarter worth about $32,000. Larson Financial Group LLC acquired a new stake in shares of Planet Labs PBC during the 3rd quarter worth about $39,000. GAMMA Investing LLC raised its position in shares of Planet Labs PBC by 146.4% during the 4th quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock worth $40,000 after acquiring an additional 1,195 shares in the last quarter. Finally, North Star Investment Management Corp. raised its position in shares of Planet Labs PBC by 1,111.1% during the 4th quarter. North Star Investment Management Corp. now owns 2,180 shares of the company’s stock worth $43,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Insider Activity at Planet Labs PBC

In other Planet Labs PBC news, CFO Ashley F. Johnson sold 200,000 shares of Planet Labs PBC stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the transaction, the chief financial officer owned 1,895,162 shares of the company’s stock, valued at $66,520,186.20. The trade was a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert H. Schingler sold 73,683 shares of Planet Labs PBC stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $35.07, for a total value of $2,584,062.81. Following the transaction, the insider directly owned 256,488 shares in the company, valued at approximately $8,995,034.16. This trade represents a 22.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PL. Deutsche Bank Aktiengesellschaft set a $38.00 target price on Planet Labs PBC and gave the stock a “buy” rating in a research report on Friday, March 27th. The Goldman Sachs Group raised their target price on Planet Labs PBC from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Zacks Research lowered Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Citigroup lifted their price target on Planet Labs PBC from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings lowered Planet Labs PBC from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.61.

Planet Labs PBC Trading Down 10.3%

PL opened at $43.14 on Thursday. The firm has a market cap of $14.93 billion, a price-to-earnings ratio of -55.31 and a beta of 1.99. Planet Labs PBC has a 52 week low of $3.78 and a 52 week high of $51.76. The business’s 50 day moving average is $38.62 and its two-hundred day moving average is $27.37. The company has a quick ratio of 1.64, a current ratio of 1.65 and a debt-to-equity ratio of 2.37.

About Planet Labs PBC

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.