Towarzystwo Funduszy Inwestycyjnych PZU SA Has $566,000 Stock Position in Planet Labs PBC $PL

Towarzystwo Funduszy Inwestycyjnych PZU SA reduced its position in Planet Labs PBC (NYSE:PLFree Report) by 97.1% in the 4th quarter, HoldingsChannel reports. The firm owned 28,681 shares of the company’s stock after selling 953,147 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA’s holdings in Planet Labs PBC were worth $566,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Parkside Financial Bank & Trust lifted its stake in Planet Labs PBC by 92.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock valued at $31,000 after purchasing an additional 745 shares during the last quarter. Baillie Gifford & Co. acquired a new stake in Planet Labs PBC in the 4th quarter valued at about $32,000. GAMMA Investing LLC lifted its stake in Planet Labs PBC by 146.4% in the 4th quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock valued at $40,000 after purchasing an additional 1,195 shares during the last quarter. North Star Investment Management Corp. lifted its stake in Planet Labs PBC by 1,111.1% in the 4th quarter. North Star Investment Management Corp. now owns 2,180 shares of the company’s stock valued at $43,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Larson Financial Group LLC acquired a new stake in Planet Labs PBC in the 3rd quarter valued at about $39,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Planet Labs PBC

In other news, insider Robert H. Schingler sold 73,683 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the transaction, the insider directly owned 256,488 shares of the company’s stock, valued at approximately $8,995,034.16. This trade represents a 22.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ashley F. Johnson sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the transaction, the chief financial officer directly owned 1,895,162 shares in the company, valued at $66,520,186.20. This represents a 9.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.42% of the stock is currently owned by company insiders.

Key Stories Impacting Planet Labs PBC

Here are the key news stories impacting Planet Labs PBC this week:

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PL shares. Zacks Research downgraded shares of Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Wedbush reiterated an “outperform” rating and issued a $50.00 target price on shares of Planet Labs PBC in a research note on Friday, June 5th. Deutsche Bank Aktiengesellschaft set a $38.00 target price on shares of Planet Labs PBC and gave the company a “buy” rating in a research note on Friday, March 27th. Weiss Ratings cut shares of Planet Labs PBC from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Finally, Northland Securities set a $50.00 price target on shares of Planet Labs PBC in a report on Friday, June 5th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Planet Labs PBC presently has a consensus rating of “Hold” and an average target price of $35.28.

Get Our Latest Stock Analysis on PL

Planet Labs PBC Stock Up 0.0%

Shares of PL opened at $31.16 on Monday. Planet Labs PBC has a 12 month low of $4.90 and a 12 month high of $51.76. The firm’s 50 day moving average is $38.99 and its 200-day moving average is $28.47. The stock has a market capitalization of $11.11 billion, a PE ratio of -27.34 and a beta of 1.99. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 1.01.

Planet Labs PBC (NYSE:PLGet Free Report) last announced its earnings results on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The company had revenue of $94.15 million for the quarter, compared to analysts’ expectations of $90.39 million. The firm’s quarterly revenue was up 42.1% compared to the same quarter last year. Equities research analysts forecast that Planet Labs PBC will post -0.81 EPS for the current year.

Planet Labs PBC Company Profile

(Free Report)

Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company’s multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet’s imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.

Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.

See Also

Want to see what other hedge funds are holding PL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Labs PBC (NYSE:PLFree Report).

Institutional Ownership by Quarter for Planet Labs PBC (NYSE:PL)

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