Planet Labs PBC (NYSE:PL) Given Consensus Recommendation of “Hold” by Analysts

Planet Labs PBC (NYSE:PL) has been assigned an average rating of “Hold” from the twelve analysts that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $30.6083.

Several equities analysts have recently issued reports on PL shares. The Goldman Sachs Group lifted their price target on Planet Labs PBC from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Zacks Research lowered Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research note on Tuesday. 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 note on Friday, March 20th. Weiss Ratings raised Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Finally, Morgan Stanley raised their price objective on Planet Labs PBC from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 25th.

Planet Labs PBC Stock Up 4.5%

Shares of PL stock opened at $44.39 on Friday. Planet Labs PBC has a 1 year low of $3.53 and a 1 year high of $45.78. The stock has a market cap of $15.36 billion, a PE ratio of -56.91 and a beta of 1.91. The business’s fifty day moving average is $35.37 and its 200-day moving average is $25.30. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.64 and a current ratio of 1.65.

Insider Buying and Selling at Planet Labs PBC

In other news, CFO Ashley F. Johnson sold 200,000 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the completion of the sale, the chief financial officer directly owned 1,895,162 shares of the company’s stock, valued at $66,520,186.20. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert H. Schingler sold 73,683 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $35.07, for a total value of $2,584,062.81. Following the sale, the insider directly owned 256,488 shares of the company’s stock, valued at approximately $8,995,034.16. This represents a 22.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 17.53% of the company’s stock.

Institutional Investors Weigh In On Planet Labs PBC

Large investors have recently modified their holdings of the stock. Pittenger & Anderson Inc. boosted its position in Planet Labs PBC by 40.9% during the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock valued at $38,000 after purchasing an additional 395 shares during the last quarter. Wellington Shields & Co. LLC boosted its position in Planet Labs PBC by 2.8% during the fourth quarter. Wellington Shields & Co. LLC now owns 15,776 shares of the company’s stock valued at $311,000 after purchasing an additional 435 shares during the last quarter. Xponance LLC boosted its position in Planet Labs PBC by 3.1% during the fourth quarter. Xponance LLC now owns 18,656 shares of the company’s stock valued at $368,000 after purchasing an additional 555 shares during the last quarter. Wealthfront Advisers LLC boosted its position in Planet Labs PBC by 5.4% during the fourth quarter. Wealthfront Advisers LLC now owns 12,715 shares of the company’s stock valued at $251,000 after purchasing an additional 657 shares during the last quarter. Finally, KBC Group NV boosted its position in Planet Labs PBC by 7.1% during the first quarter. KBC Group NV now owns 9,985 shares of the company’s stock valued at $279,000 after purchasing an additional 661 shares during the last quarter. 41.71% of the stock is owned by institutional investors.

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.