Planet Labs PBC (NYSE:PL) CFO Ashley Johnson Sells 55,663 Shares of Stock

Planet Labs PBC (NYSE:PL) CFO Ashley Johnson sold 55,663 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $16.96, for a total value of $944,044.48. Following the completion of the transaction, the chief financial officer directly owned 577,915 shares in the company, valued at $9,801,438.40. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Planet Labs PBC Trading Up 6.5%

Shares of Planet Labs PBC stock opened at $17.07 on Friday. The company has a current ratio of 2.84, a quick ratio of 2.82 and a debt-to-equity ratio of 0.79. The company has a fifty day simple moving average of $21.23 and a 200-day simple moving average of $29.62. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of -15.51 and a beta of 2.10. Planet Labs PBC has a 12-month low of $10.22 and a 12-month high of $51.76.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. Planet Labs PBC had a negative net margin of 95.13% and a negative return on equity of 93.11%. The firm had revenue of $116.05 million for the quarter, compared to analyst estimates of $104.53 million. During the same period last year, the business earned ($0.07) EPS. Planet Labs PBC’s revenue for the quarter was up 58.2% compared to the same quarter last year. On average, equities analysts forecast that Planet Labs PBC will post -0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Planet Labs PBC

Hedge funds and other institutional investors have recently modified their holdings of the stock. American Capital Advisory LLC acquired a new position in shares of Planet Labs PBC during the 1st quarter worth approximately $28,000. Western Wealth Management LLC purchased a new position in Planet Labs PBC during the first quarter worth about $28,000. Pittenger & Anderson Inc. lifted its holdings in shares of Planet Labs PBC by 40.9% during the 1st quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock worth $38,000 after acquiring an additional 395 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Planet Labs PBC in the first quarter worth approximately $41,000. Finally, Whittier Trust Co. acquired a new position in shares of Planet Labs PBC in the 1st quarter valued at $66,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PL has been the subject of several research reports. Northland Securities set a $40.00 target price on Planet Labs PBC in a report on Friday, September 4th. Wedbush began coverage on Planet Labs PBC in a research report on Wednesday, July 1st. They issued an “outperform” rating and a $50.00 target price for the company. New Street Research upgraded Planet Labs PBC from a “sell” rating to a “neutral” rating in a research note on Friday, September 4th. The Goldman Sachs Group lifted their target price on shares of Planet Labs PBC from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Needham & Company LLC dropped their price target on Planet Labs PBC from $53.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $32.77.

About Planet Labs PBC

Planet Labs PBC is an Earth-imaging and geospatial data company that operates a constellation of satellites designed to provide frequent imagery of the planet’s landmass. The company collects, processes and delivers satellite imagery and related data products through cloud-based platforms and application programming interfaces.

Its offerings include PlanetScope imagery for broad-area monitoring, SkySat imagery for higher-resolution observation, and specialized products that support change detection, mapping and environmental analysis.