SG Americas Securities LLC Decreases Stock Holdings in Planet Labs PBC $PL

SG Americas Securities LLC decreased its holdings in shares of Planet Labs PBC (NYSE:PL) by 60.4% during the third quarter, Holdings Channel.com reports. The firm owned 23,993 shares of the company’s stock after selling 36,622 shares during the period. SG Americas Securities LLC’s holdings in Planet Labs PBC were worth $311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC increased its holdings in shares of Planet Labs PBC by 129.9% in the 3rd quarter. CWM LLC now owns 9,276 shares of the company’s stock worth $120,000 after buying an additional 5,241 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in Planet Labs PBC by 45.1% during the second quarter. SBI Securities Co. Ltd. now owns 9,877 shares of the company’s stock worth $60,000 after acquiring an additional 3,068 shares during the last quarter. Heritage Oak Wealth Advisors LLC purchased a new stake in Planet Labs PBC during the third quarter valued at approximately $130,000. Tableaux LLC purchased a new stake in Planet Labs PBC during the second quarter valued at approximately $61,000. Finally, May Hill Capital LLC bought a new stake in shares of Planet Labs PBC in the 2nd quarter valued at approximately $62,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Planet Labs PBC

In other news, Director Kristen Robinson sold 47,835 shares of Planet Labs PBC stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $26.96, for a total transaction of $1,289,631.60. Following the completion of the sale, the director owned 222,897 shares of the company’s stock, valued at approximately $6,009,303.12. The trade was a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert H. Schingler sold 73,782 shares of the business’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $19.35, for a total value of $1,427,681.70. Following the completion of the sale, the insider owned 1,164,729 shares of the company’s stock, valued at $22,537,506.15. The trade was a 5.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 292,348 shares of company stock valued at $7,323,958 in the last quarter. Corporate insiders own 17.53% of the company’s stock.

Analyst Upgrades and Downgrades

PL has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Planet Labs PBC in a report on Thursday, December 11th. Citizens Jmp downgraded shares of Planet Labs PBC from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 21st. The Goldman Sachs Group restated a “neutral” rating and issued a $16.40 target price on shares of Planet Labs PBC in a report on Tuesday, January 20th. Needham & Company LLC upped their price target on shares of Planet Labs PBC from $16.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Morgan Stanley increased their price objective on shares of Planet Labs PBC from $20.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.64.

Planet Labs PBC Trading Down 3.9%

NYSE PL opened at $25.90 on Tuesday. The stock has a market cap of $8.12 billion, a PE ratio of -61.67 and a beta of 1.94. Planet Labs PBC has a 12 month low of $2.79 and a 12 month high of $30.90. The company’s 50-day moving average price is $18.75 and its 200-day moving average price is $13.04. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 1.28.

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.