Nwam LLC Purchases Shares of 130,950 Planet Labs PBC $PL

Nwam LLC acquired a new position in Planet Labs PBC (NYSE:PL) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 130,950 shares of the company’s stock, valued at approximately $4,338,000.

Several other hedge funds have also modified their holdings of PL. Vanguard Group Inc. grew its stake in shares of Planet Labs PBC by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 19,358,515 shares of the company’s stock worth $381,750,000 after buying an additional 806,818 shares in the last quarter. Calamos Advisors LLC purchased a new stake in shares of Planet Labs PBC during the 1st quarter valued at about $2,973,000. Principal Financial Group Inc. lifted its holdings in shares of Planet Labs PBC by 103.4% in the 1st quarter. Principal Financial Group Inc. now owns 565,537 shares of the company’s stock valued at $15,807,000 after acquiring an additional 287,544 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Planet Labs PBC by 574.7% in the 1st quarter. Quantinno Capital Management LP now owns 145,751 shares of the company’s stock valued at $4,074,000 after acquiring an additional 124,150 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Planet Labs PBC in the 1st quarter valued at about $5,472,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Planet Labs PBC

In other news, insider Robert H. Schingler sold 64,593 shares of Planet Labs PBC stock in a transaction on Friday, July 10th. The stock was sold at an average price of $25.92, for a total transaction of $1,674,250.56. Following the completion of the sale, the insider directly owned 825,541 shares in the company, valued at approximately $21,398,022.72. This trade represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Raymond sold 6,494 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $26.16, for a total transaction of $169,883.04. Following the sale, the director directly owned 37,114 shares of the company’s stock, valued at $970,902.24. This represents a 14.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 171,122 shares of company stock valued at $4,148,906 in the last quarter. 16.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PL has been the topic of several analyst reports. New Street Research began coverage on Planet Labs PBC in a research note on Wednesday, May 13th. They set a “sell” rating and a $28.00 price objective on the stock. Northland Securities set a $50.00 target price on Planet Labs PBC in a report on Friday, June 5th. The Goldman Sachs Group boosted their target price on Planet Labs PBC from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Zacks Research upgraded Planet Labs PBC from a “strong sell” rating to a “hold” rating in a report on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $36.00 price target on shares of Planet Labs PBC in a research report on Monday, June 15th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.36.

Planet Labs PBC Stock Down 0.8%

Shares of NYSE:PL opened at $19.83 on Tuesday. The firm has a market capitalization of $7.07 billion, a PE ratio of -17.39 and a beta of 2.11. The business has a 50 day simple moving average of $24.31 and a two-hundred day simple moving average of $30.17. Planet Labs PBC has a 1 year low of $6.26 and a 1 year high of $51.76. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.81 and a quick ratio of 2.78.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings results on Thursday, June 4th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The firm had revenue of $94.15 million for the quarter, compared to the consensus estimate of $90.39 million. Planet Labs PBC’s revenue was up 42.1% on a year-over-year basis. On average, equities analysts predict that Planet Labs PBC will post -0.92 EPS for the current 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.