693,251 Planet Labs PBC $PL Shares Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp raised its position in shares of Planet Labs PBC (NYSE:PL) by 203.3% during the 3rd quarter, Holdings Channel reports. The fund owned 1,034,230 shares of the company’s stock after purchasing an additional 693,251 shares during the period. King Luther Capital Management Corp’s holdings in Planet Labs PBC were worth $16,951,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobi Capital Management LLC purchased a new position in shares of Planet Labs PBC in the third quarter valued at $26,000. Western Wealth Management LLC bought a new stake in Planet Labs PBC in the first quarter worth $28,000. Fortitude Family Office LLC raised its stake in Planet Labs PBC by 3,035.0% during the third quarter. Fortitude Family Office LLC now owns 2,508 shares of the company’s stock valued at $41,000 after purchasing an additional 2,428 shares in the last quarter. Parallel Advisors LLC raised its stake in Planet Labs PBC by 313.1% during the third quarter. Parallel Advisors LLC now owns 2,677 shares of the company’s stock valued at $44,000 after purchasing an additional 2,029 shares in the last quarter. Finally, North Star Investment Management Corp. raised its stake in Planet Labs PBC by 169.5% during the third quarter. North Star Investment Management Corp. now owns 3,180 shares of the company’s stock valued at $52,000 after purchasing an additional 2,000 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PL shares. Citizens Jmp reiterated a “market perform” rating on shares of Planet Labs PBC in a research report on Friday, September 4th. Craig Hallum set a $35.00 target price on shares of Planet Labs PBC in a report on Friday, September 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a research report on Friday, September 11th. Needham & Company LLC lowered their price target on shares of Planet Labs PBC from $53.00 to $40.00 and set a “buy” rating for the company in a report on Friday, September 4th. Finally, Northland Securities set a $40.00 price target on shares of Planet Labs PBC in a report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has assigned 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 $30.33.

Planet Labs PBC Stock Performance

Shares of NYSE:PL opened at $13.93 on Friday. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of -12.67 and a beta of 2.27. 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 $15.48 and its 200 day moving average is $26.00. 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 (NYSE:PL) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. The business had revenue of $116.05 million during the quarter, compared to the consensus estimate of $104.53 million. Planet Labs PBC had a negative net margin of 95.13% and a negative return on equity of 93.11%. The firm’s quarterly revenue was up 58.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) earnings per share. Research analysts predict that Planet Labs PBC will post -0.60 EPS for the current year.

Insider Activity

In other news, Director Ita Brennan sold 11,500 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $16.30, for a total transaction of $187,450.00. Following the transaction, the director owned 250,373 shares of the company’s stock, valued at approximately $4,081,079.90. This represents a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kristen Robinson sold 40,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $14.14, for a total value of $565,600.00. Following the completion of the sale, the director owned 182,897 shares in the company, valued at approximately $2,586,163.58. The trade was a 17.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 165,897 shares of company stock valued at $2,681,988. 16.42% of the stock is currently owned by corporate insiders.

Planet Labs PBC Profile

Planet Labs PBC operates a fleet of Earth-observation satellites and provides satellite imagery, geospatial data and analysis tools. Its services help customers monitor changes on the planet and apply that information to planning and decision-making. The company’s products include frequently updated global imagery from its PlanetScope satellites and higher-resolution imagery from its SkySat fleet. Customers can access imagery and data through Planet’s online platform and related services, including tools for searching, analyzing and monitoring locations over time.