IQ EQ FUND MANAGEMENT IRELAND Ltd Increases Holdings in Planet Labs PBC $PL

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Planet Labs PBC (NYSE:PL) by 34.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 220,400 shares of the company’s stock after buying an additional 56,452 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Planet Labs PBC were worth $2,861,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board boosted its holdings in Planet Labs PBC by 0.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 7,820,400 shares of the company’s stock worth $47,704,000 after buying an additional 20,400 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Planet Labs PBC by 245.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,453,131 shares of the company’s stock valued at $14,964,000 after acquiring an additional 1,743,474 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Planet Labs PBC by 54.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock worth $6,274,000 after acquiring an additional 653,173 shares during the period. Marshall Wace LLP boosted its stake in Planet Labs PBC by 10,305.7% in the 2nd quarter. Marshall Wace LLP now owns 1,509,248 shares of the company’s stock worth $9,206,000 after purchasing an additional 1,494,744 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Planet Labs PBC by 477.9% during the second quarter. Bank of America Corp DE now owns 1,349,603 shares of the company’s stock valued at $8,233,000 after purchasing an additional 1,116,055 shares in the last quarter. Institutional investors own 41.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PL. Morgan Stanley lifted their target price on Planet Labs PBC from $20.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Wedbush raised their target price on shares of Planet Labs PBC from $20.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 13th. Zacks Research cut shares of Planet Labs PBC from a “hold” rating to a “strong sell” rating in a report on Monday, December 22nd. JMP Securities reissued a “market perform” rating on shares of Planet Labs PBC in a research report on Tuesday, October 21st. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $16.40 price objective on shares of Planet Labs PBC in a report on Tuesday, January 20th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.88.

Insider Activity

In other news, Director Vijaya Gadde sold 20,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $26.77, for a total transaction of $535,400.00. Following the sale, the director owned 250,169 shares of the company’s stock, valued at approximately $6,697,024.13. This trade represents a 7.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert H. Schingler sold 73,782 shares of the company’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 transaction, the insider directly owned 1,164,729 shares of the company’s stock, valued at $22,537,506.15. This trade represents a 5.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 292,368 shares of company stock worth $7,324,211. 17.53% of the stock is currently owned by company insiders.

Planet Labs PBC Price Performance

PL stock opened at $22.25 on Friday. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of -52.98 and a beta of 1.94. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 1.28. Planet Labs PBC has a 52-week low of $2.79 and a 52-week high of $30.90. The business has a fifty day moving average of $21.03 and a two-hundred day moving average of $14.06.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Wednesday, December 10th. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.02. Planet Labs PBC had a negative net margin of 45.87% and a negative return on equity of 31.01%. The firm had revenue of $81.25 million during the quarter, compared to the consensus estimate of $72.02 million. During the same quarter last year, the firm earned ($0.02) EPS. The firm’s revenue for the quarter was up 32.6% on a year-over-year basis. As a group, research analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current year.

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.