Osbon Capital Management LLC acquired a new position in Planet Labs PBC (NYSE:PL – Free Report) in the 4th quarter, HoldingsChannel reports. The fund acquired 28,118 shares of the company’s stock, valued at approximately $554,000.
Several other large investors have also modified their holdings of the business. Wellington Shields & Co. LLC raised its holdings in shares of Planet Labs PBC by 2.8% in the fourth quarter. Wellington Shields & Co. LLC now owns 15,776 shares of the company’s stock worth $311,000 after buying an additional 435 shares during the period. Xponance LLC boosted its holdings in Planet Labs PBC by 3.1% during the 4th quarter. Xponance LLC now owns 18,656 shares of the company’s stock valued at $368,000 after acquiring an additional 555 shares during the period. Wealthfront Advisers LLC boosted its holdings in Planet Labs PBC by 5.4% during the 4th quarter. Wealthfront Advisers LLC now owns 12,715 shares of the company’s stock valued at $251,000 after acquiring an additional 657 shares during the period. Pictet Asset Management Holding SA grew its position in Planet Labs PBC by 2.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 33,090 shares of the company’s stock valued at $653,000 after acquiring an additional 690 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position 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 acquiring an additional 745 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.
Analyst Upgrades and Downgrades
PL has been the topic of a number of recent analyst reports. Zacks Research lowered Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Weiss Ratings upgraded shares of Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Northland Securities set a $50.00 price target on shares of Planet Labs PBC in a research note on Friday, June 5th. Morgan Stanley lifted their price objective on shares of Planet Labs PBC from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $36.00 price objective on shares of Planet Labs PBC in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.11.
Planet Labs PBC Trading Down 0.2%
Shares of NYSE PL opened at $28.18 on Friday. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $38.29 and a two-hundred day simple moving average of $28.94. The firm has a market cap of $10.04 billion, a PE ratio of -24.72 and a beta of 1.99. Planet Labs PBC has a twelve month low of $4.90 and a twelve month high of $51.76.
Planet Labs PBC (NYSE:PL – Get Free Report) last issued its earnings results on Thursday, June 4th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The business had revenue of $94.15 million during 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. Analysts expect that Planet Labs PBC will post -0.81 earnings per share for the current fiscal year.
Insider Activity
In other Planet Labs PBC news, insider Robert H. Schingler sold 73,683 shares of the stock in a transaction dated 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 in the company, valued at $8,995,034.16. This represents a 22.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 dated Thursday, April 2nd. The shares were 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 trade represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 16.42% of the company’s stock.
About Planet Labs PBC
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.
Featured Articles
- Five stocks we like better than Planet Labs PBC
- Aehr Spikes on New Order, But Has Stock Gotten Ahead of Itself?
- Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom
- Satellogic Is Tiny But Its Revenue Growth Is Hard to Ignore
- Why Kroger’s Pullback Could Be a Gift for Patient Investors
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:PL – Free Report).
Receive News & Ratings for Planet Labs PBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Labs PBC and related companies with MarketBeat.com's FREE daily email newsletter.
