Liontrust Investment Partners LLP decreased its stake in shares of Planet Labs PBC (NYSE:PL – Free Report) by 18.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,849 shares of the company’s stock after selling 57,217 shares during the quarter. Liontrust Investment Partners LLP’s holdings in Planet Labs PBC were worth $7,123,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in PL. Vanguard Group Inc. grew its stake in Planet Labs PBC by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 19,358,515 shares of the company’s stock worth $381,750,000 after acquiring an additional 806,818 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Planet Labs PBC by 0.3% during the second quarter. Canada Pension Plan Investment Board now owns 7,820,400 shares of the company’s stock valued at $47,704,000 after acquiring an additional 20,400 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Planet Labs PBC by 320.3% in the fourth quarter. Van ECK Associates Corp now owns 7,678,938 shares of the company’s stock valued at $151,429,000 after purchasing an additional 5,851,758 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Planet Labs PBC by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 5,702,642 shares of the company’s stock valued at $112,475,000 after purchasing an additional 71,381 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Planet Labs PBC by 7.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,137,871 shares of the company’s stock worth $81,599,000 after purchasing an additional 301,757 shares in the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have commented on the company. Northland Securities set a $50.00 price objective on Planet Labs PBC in a report on Friday, June 5th. New Street Research assumed coverage on Planet Labs PBC in a report on Wednesday, May 13th. They issued a “sell” rating and a $28.00 target price for the company. Zacks Research raised Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $36.00 price target on shares of Planet Labs PBC in a research note on Monday, June 15th. Finally, Weiss Ratings upgraded Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.36.
Planet Labs PBC Price Performance
NYSE PL opened at $20.24 on Friday. The company has a market cap of $7.21 billion, a PE ratio of -17.75 and a beta of 2.06. The firm’s 50 day moving average price is $31.12 and its 200-day moving average price is $30.64. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.78 and a current ratio of 2.81. Planet Labs PBC has a 52-week low of $5.87 and a 52-week high of $51.76.
Planet Labs PBC (NYSE:PL – Get Free Report) last issued its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $94.15 million during the quarter, compared to the consensus estimate of $90.39 million. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The business’s revenue for the quarter was up 42.1% compared to the same quarter last year. Sell-side analysts forecast that Planet Labs PBC will post -0.92 EPS for the current fiscal year.
Insider Activity
In related news, Director John W. Raymond sold 6,494 shares of the company’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $26.16, for a total transaction of $169,883.04. Following the completion of the sale, the director directly owned 37,114 shares in the company, valued at $970,902.24. This represents a 14.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Ashley F. Johnson sold 75,035 shares of the company’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total value of $1,656,772.80. Following the sale, the chief financial officer owned 1,132,122 shares of the company’s stock, valued at $24,997,253.76. This trade represents a 6.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 171,122 shares of company stock worth $4,148,906. 16.42% of the stock is currently owned by company insiders.
Planet Labs PBC Company Profile
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.
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