Jennison Associates LLC Cuts Position in Planet Labs PBC $PL

Jennison Associates LLC lessened its holdings in Planet Labs PBC (NYSE:PL) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,662 shares of the company’s stock after selling 7,706 shares during the period. Jennison Associates LLC’s holdings in Planet Labs PBC were worth $809,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PL. Vanguard Group Inc. boosted its holdings in Planet Labs PBC by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 16,213,565 shares of the company’s stock worth $54,802,000 after buying an additional 261,171 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Planet Labs PBC by 54.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock worth $6,274,000 after buying an additional 653,173 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Planet Labs PBC by 41.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,323,263 shares of the company’s stock worth $4,473,000 after buying an additional 389,375 shares during the last quarter. Liontrust Investment Partners LLP boosted its holdings in Planet Labs PBC by 175.0% in the 1st quarter. Liontrust Investment Partners LLP now owns 1,066,133 shares of the company’s stock worth $3,604,000 after buying an additional 678,486 shares during the last quarter. Finally, LBP AM SA boosted its holdings in Planet Labs PBC by 17.0% in the 2nd quarter. LBP AM SA now owns 934,158 shares of the company’s stock worth $5,698,000 after buying an additional 135,680 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Insider Buying and Selling

In related news, insider Robert H. Schingler sold 81,656 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $15.50, for a total value of $1,265,668.00. Following the transaction, the insider directly owned 1,288,843 shares in the company, valued at approximately $19,977,066.50. This represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 17.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Planet Labs PBC in a report on Tuesday, October 21st. Cantor Fitzgerald lifted their price objective on Planet Labs PBC from $8.50 to $20.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Citizens Jmp cut Planet Labs PBC from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Planet Labs PBC from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.26.

Planet Labs PBC Price Performance

Shares of Planet Labs PBC stock opened at $13.41 on Friday. The stock has a market cap of $4.13 billion, a P/E ratio of -44.69 and a beta of 1.99. The stock’s 50 day simple moving average is $11.51 and its 200-day simple moving average is $7.41. Planet Labs PBC has a 1-year low of $2.18 and a 1-year high of $16.78.

Planet Labs PBC (NYSE:PL) last issued its earnings results on Monday, September 8th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Planet Labs PBC had a negative return on equity of 20.25% and a negative net margin of 34.46%.The company had revenue of $73.39 million for the quarter, compared to analyst estimates of $65.88 million. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, research analysts expect that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Planet Labs PBC Profile

Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company’s platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.