Los Angeles Capital Management LLC Buys Shares of 11,073 Planet Labs PBC $PL

Los Angeles Capital Management LLC purchased a new stake in Planet Labs PBC (NYSE:PL) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 11,073 shares of the company’s stock, valued at approximately $68,000.

Several other institutional investors and hedge funds have also bought and sold shares of PL. Liontrust Investment Partners LLP increased its holdings in shares of Planet Labs PBC by 175.0% in the first quarter. Liontrust Investment Partners LLP now owns 1,066,133 shares of the company’s stock valued at $3,604,000 after purchasing an additional 678,486 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Planet Labs PBC by 54.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock worth $6,274,000 after purchasing an additional 653,173 shares during the last quarter. Nuveen LLC bought a new position in Planet Labs PBC during the first quarter worth $1,668,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Planet Labs PBC by 144.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 709,657 shares of the company’s stock valued at $2,399,000 after buying an additional 419,773 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position 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 purchasing an additional 389,375 shares in the last quarter. Institutional investors own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC upped their target price on shares of Planet Labs PBC from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Citizens Jmp downgraded shares of Planet Labs PBC from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Planet Labs PBC in a research report on Wednesday, October 8th. Citigroup restated an “outperform” rating on shares of Planet Labs PBC in a research report on Tuesday, September 9th. Finally, JMP Securities reiterated a “market perform” rating on shares of Planet Labs PBC 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.26.

Planet Labs PBC Trading Up 2.3%

NYSE PL opened at $11.47 on Wednesday. Planet Labs PBC has a twelve month low of $2.79 and a twelve month high of $16.78. The stock has a 50-day moving average of $12.72 and a 200 day moving average of $8.21. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of -38.24 and a beta of 1.99.

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

Insider Buying and Selling

In other Planet Labs PBC news, insider Robert H. Schingler sold 81,656 shares of the firm’s stock in a transaction 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 owned 1,288,843 shares in the company, valued at approximately $19,977,066.50. This trade represents a 5.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 17.53% of the company’s stock.

About Planet Labs PBC

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.