Planet Labs PBC (NYSE:PL – Get Free Report) Director John Raymond sold 6,494 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $15.23, for a total value of $98,903.62. Following the transaction, the director owned 30,620 shares of the company’s stock, valued at $466,342.60. This trade represents a 17.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Planet Labs PBC Price Performance
Planet Labs PBC stock opened at $14.12 on Thursday. The stock’s 50 day moving average is $19.06 and its 200 day moving average is $28.17. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.84 and a quick ratio of 2.82. The firm has a market cap of $5.14 billion, a P/E ratio of -12.83 and a beta of 2.17. Planet Labs PBC has a one year low of $10.52 and a one year high of $51.76.
Planet Labs PBC (NYSE:PL – Get Free Report) last announced its earnings results on Thursday, September 3rd. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.04. The business had revenue of $116.05 million for the quarter, compared to analysts’ expectations of $104.53 million. Planet Labs PBC had a negative return on equity of 93.11% and a negative net margin of 95.13%. The firm’s revenue was up 58.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) earnings per share. As a group, research analysts expect that Planet Labs PBC will post -0.63 EPS for the current year.
Analyst Ratings Changes
Read Our Latest Stock Analysis on PL
Institutional Trading of Planet Labs PBC
Hedge funds have recently modified their holdings of the stock. Pittenger & Anderson Inc. boosted its holdings in Planet Labs PBC by 40.9% in the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock worth $38,000 after acquiring an additional 395 shares in the last quarter. KBC Group NV grew its stake in Planet Labs PBC by 7.1% in the first quarter. KBC Group NV now owns 9,985 shares of the company’s stock valued at $279,000 after acquiring an additional 661 shares during the period. Arizona State Retirement System grew its stake in Planet Labs PBC by 1.0% in the second quarter. Arizona State Retirement System now owns 68,998 shares of the company’s stock valued at $2,286,000 after acquiring an additional 705 shares during the period. Mirador Capital Partners LP increased its holdings in shares of Planet Labs PBC by 6.2% during the third quarter. Mirador Capital Partners LP now owns 12,910 shares of the company’s stock valued at $212,000 after acquiring an additional 753 shares in the last quarter. Finally, American Capital Advisory LLC bought a new stake in shares of Planet Labs PBC during the first quarter valued at approximately $28,000. Institutional investors own 41.71% of the company’s stock.
Planet Labs PBC News Roundup
Here are the key news stories impacting Planet Labs PBC this week:
- Positive Sentiment: Planet Labs was selected by the European Space Agency to build Slovenia’s Space Resilience Node. The project will use satellite data to automate threat detection, potentially expanding Planet’s government, defense and disaster-monitoring opportunities. Planet Selected by European Space Agency to Build Slovenia’s Space Resilience Node
- Positive Sentiment: Analysts cited an average price target of $31.56 for Planet Labs, implying substantial upside from recent trading levels, although target prices do not guarantee future performance. Planet Labs PBC Stock Has Average Target Price of $31.56
- Neutral Sentiment: Goldman Sachs maintained its Hold rating on Planet Labs, signaling that the firm sees limited near-term conviction despite the company’s long-term satellite-imaging potential. Goldman Sachs Sticks to Their Hold Rating for Planet Labs PBC
- Neutral Sentiment: A recent analysis questioned whether Planet Labs is undervalued after its shares fell more than 50%, warning that the decline alone does not establish a compelling buying opportunity. Is Planet Labs an Undervalued Space Stock to Buy Right Now
- Negative Sentiment: Director John W. Raymond sold 6,494 shares for approximately $98,904, reducing his holdings by 17.5%. Insider selling can pressure sentiment, although the transaction does not necessarily indicate a change in the company’s outlook. SEC Insider Transaction Filing
- Negative Sentiment: Coverage highlighted a widening valuation gap, adding to concerns that Planet Labs remains expensive relative to its fundamentals after its recent decline. Planet Labs Drops as Valuation Gap Widens
- Negative Sentiment: Weakness across space stocks, including concerns about competitive threats from SpaceX’s direct-to-cell satellite services, also weighed on sentiment toward Planet Labs and the broader sector. Space Stocks Decline on SpaceX Competition Concerns
Planet Labs PBC Company Profile
Planet Labs PBC is an Earth-imaging and geospatial data company that operates a constellation of satellites designed to provide frequent, high-resolution imagery of the planet. Its data is used to monitor changes in land, infrastructure, agriculture, forests, oceans and other environments.
The company’s products include PlanetScope, a satellite imagery service intended to provide frequent coverage of large areas; SkySat, which offers higher-resolution imagery and video capabilities; and other satellite and data products, including hyperspectral imaging initiatives.
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