47,900 Shares in Planet Labs PBC $PL Bought by Polianta Ltd

Polianta Ltd acquired a new stake in Planet Labs PBC (NYSE:PL) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 47,900 shares of the company’s stock, valued at approximately $1,338,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PL. Wellington Shields & Co. LLC increased its holdings in Planet Labs PBC by 2.8% during the 4th quarter. Wellington Shields & Co. LLC now owns 15,776 shares of the company’s stock worth $311,000 after purchasing an additional 435 shares in the last quarter. Xponance LLC raised its stake in shares of Planet Labs PBC by 3.1% in the 4th quarter. Xponance LLC now owns 18,656 shares of the company’s stock valued at $368,000 after purchasing an additional 555 shares during the period. Wealthfront Advisers LLC lifted its holdings in shares of Planet Labs PBC by 5.4% in the fourth quarter. Wealthfront Advisers LLC now owns 12,715 shares of the company’s stock valued at $251,000 after purchasing an additional 657 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Planet Labs PBC by 2.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 33,090 shares of the company’s stock valued at $653,000 after purchasing an additional 690 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Planet Labs PBC by 92.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock worth $31,000 after buying an additional 745 shares during the period. 41.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Ashley F. Johnson sold 200,000 shares of the firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total value of $7,020,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,895,162 shares of the company’s stock, valued at approximately $66,520,186.20. This trade represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert H. Schingler sold 73,683 shares of the business’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the transaction, the insider owned 256,488 shares in the company, valued at approximately $8,995,034.16. The trade was a 22.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PL. New Street Research began coverage on Planet Labs PBC in a report on Wednesday, May 13th. They set a “sell” rating and a $28.00 price objective for the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $36.00 target price on shares of Planet Labs PBC in a research note on Monday, June 15th. Cantor Fitzgerald upped their price target on Planet Labs PBC from $20.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Morgan Stanley raised their price target on shares of Planet Labs PBC from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 25th. Finally, Wedbush reiterated an “outperform” rating and issued a $50.00 price objective on shares of Planet Labs PBC in a report on Friday, June 5th. Six 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. According to MarketBeat.com, Planet Labs PBC has an average rating of “Hold” and an average price target of $35.11.

Planet Labs PBC Price Performance

NYSE:PL opened at $28.18 on Friday. Planet Labs PBC has a 52-week low of $4.90 and a 52-week high of $51.76. The company has a market cap of $10.04 billion, a P/E ratio of -24.72 and a beta of 1.99. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.78 and a current ratio of 2.81. The stock’s 50-day simple moving average is $38.29 and its 200 day simple moving average is $28.94.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings results on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $94.15 million during the quarter, compared to analysts’ expectations of $90.39 million. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The firm’s revenue for the quarter was up 42.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Planet Labs PBC will post -0.92 EPS for the current fiscal year.

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.