Planet Labs PBC (NYSE:PL) Director Sells $187,450.00 in Stock

Planet Labs PBC (NYSE:PL) Director Ita Brennan sold 11,500 shares of Planet Labs PBC stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $16.30, for a total transaction of $187,450.00. Following the completion of the sale, the director owned 250,373 shares of the company’s stock, valued at $4,081,079.90. This trade represents a 4.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Planet Labs PBC Stock Up 0.1%

Shares of PL opened at $17.51 on Monday. The company has a current ratio of 2.84, a quick ratio of 2.82 and a debt-to-equity ratio of 0.79. Planet Labs PBC has a 12 month low of $10.52 and a 12 month high of $51.76. The firm’s 50 day moving average is $19.77 and its 200-day moving average is $28.96. The stock has a market capitalization of $6.37 billion, a PE ratio of -15.92 and a beta of 2.17.

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

Analysts Set New Price Targets

Several equities analysts have commented on PL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Planet Labs PBC in a report on Friday, September 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $28.00 price target on shares of Planet Labs PBC in a report on Tuesday, September 8th. The Goldman Sachs Group lifted their price objective on shares of Planet Labs PBC from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Northland Securities set a $40.00 price objective on shares of Planet Labs PBC in a research report on Friday, September 4th. Finally, Craig Hallum set a $35.00 target price on Planet Labs PBC in a research note on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.77.

Institutional Investors Weigh In On Planet Labs PBC

Several hedge funds have recently added to or reduced their stakes in PL. Tema ETFs LLC raised its stake in shares of Planet Labs PBC by 75,804.6% during the second quarter. Tema ETFs LLC now owns 1,590,960 shares of the company’s stock valued at $52,709,000 after acquiring an additional 1,588,864 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Planet Labs PBC by 5,339.2% in the second quarter. Tidal Investments LLC now owns 1,591,020 shares of the company’s stock worth $52,710,000 after purchasing an additional 1,561,769 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Planet Labs PBC by 2,046.9% in the fourth quarter. BNP Paribas Financial Markets now owns 966,280 shares of the company’s stock worth $19,055,000 after purchasing an additional 921,272 shares during the last quarter. Norges Bank acquired a new stake in Planet Labs PBC in the fourth quarter valued at $17,494,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Planet Labs PBC by 80.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,932,381 shares of the company’s stock valued at $54,010,000 after purchasing an additional 861,306 shares during the period. 41.71% of the stock is currently owned by institutional investors and hedge funds.

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, high-resolution imagery of the planet. Its data is used to monitor changes in land, infrastructure, agriculture, forests, oceans and other environments.

The company’s products include PlanetScope, a satellite imagery service intended to provide frequent coverage of large areas; SkySat, which offers higher-resolution imagery and video capabilities; and other satellite and data products, including hyperspectral imaging initiatives.