Calamos Advisors LLC purchased a new position in shares of Planet Labs PBC (NYSE:PL – Free Report) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 106,381 shares of the company’s stock, valued at approximately $2,973,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. American Capital Advisory LLC bought a new position in Planet Labs PBC during the 1st quarter worth $28,000. Pittenger & Anderson Inc. grew its position in shares of Planet Labs PBC by 40.9% in the 1st quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock valued at $38,000 after buying an additional 395 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Planet Labs PBC in the 1st quarter valued at about $41,000. Parkside Financial Bank & Trust increased its stake in shares of Planet Labs PBC by 92.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock valued at $31,000 after buying an additional 745 shares during the period. Finally, Baillie Gifford & Co. acquired a new stake in shares of Planet Labs PBC in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 41.71% of the company’s stock.
Planet Labs PBC Stock Performance
Shares of PL stock opened at $24.90 on Thursday. The firm has a 50 day moving average of $35.40 and a 200-day moving average of $30.60. The company has a market cap of $8.88 billion, a price-to-earnings ratio of -21.85 and a beta of 2.06. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 1.01. Planet Labs PBC has a 52 week low of $5.87 and a 52 week high of $51.76.
Insider Buying and Selling at Planet Labs PBC
In related news, insider Robert H. Schingler sold 25,000 shares of the business’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $25.92, for a total value of $648,000.00. Following the completion of the sale, the insider directly owned 225,171 shares of the company’s stock, valued at $5,836,432.32. The trade was a 9.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John W. Raymond sold 6,494 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $26.16, for a total value of $169,883.04. Following the completion of the sale, the director directly owned 37,114 shares of the company’s stock, valued at $970,902.24. The trade was a 14.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 96,087 shares of company stock valued at $2,492,134. Insiders own 16.42% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald raised their price objective on Planet Labs PBC from $20.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Weiss Ratings raised shares of Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Zacks Research upgraded shares of Planet Labs PBC from a “strong sell” rating to a “hold” rating in a report on Thursday, July 2nd. Craig Hallum boosted their price target on shares of Planet Labs PBC from $36.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Northland Securities set a $50.00 price target on shares of Planet Labs PBC in a research report on Friday, June 5th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.36.
Read Our Latest Analysis on PL
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.
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