John Raymond Sells 6,494 Shares of Planet Labs PBC (NYSE:PL) Stock

Planet Labs PBC (NYSE:PL) Director John Raymond sold 6,494 shares of the stock in a transaction on Monday, July 13th. The shares were sold at an average price of $26.16, for a total value of $169,883.04. Following the sale, the director owned 37,114 shares in the company, valued at approximately $970,902.24. This represents a 14.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Planet Labs PBC Stock Down 2.6%

PL stock opened at $24.90 on Thursday. The stock has a market capitalization of $8.88 billion, a P/E ratio of -21.85 and a beta of 2.06. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.81 and a quick ratio of 2.78. Planet Labs PBC has a 1-year low of $5.87 and a 1-year high of $51.76. The business has a fifty day moving average price of $35.40 and a 200-day moving average price of $30.60.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The company had revenue of $94.15 million for the quarter, compared to analysts’ expectations of $90.39 million. The firm’s revenue for the quarter was up 42.1% compared to the same quarter last year. Equities analysts forecast that Planet Labs PBC will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Planet Labs PBC

Large investors have recently added to or reduced their stakes in the business. American Capital Advisory LLC bought a new position in Planet Labs PBC in the first quarter worth approximately $28,000. Western Wealth Management LLC bought a new stake in shares of Planet Labs PBC during the 1st quarter valued at $28,000. Parkside Financial Bank & Trust increased its stake in shares of Planet Labs PBC by 92.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock worth $31,000 after purchasing an additional 745 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in shares of Planet Labs PBC in the 4th quarter worth $32,000. Finally, Pittenger & Anderson Inc. raised its holdings in Planet Labs PBC by 40.9% in the 1st quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock worth $38,000 after purchasing an additional 395 shares during the period. 41.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. New Street Research assumed coverage on shares of Planet Labs PBC in a report on Wednesday, May 13th. They issued a “sell” rating and a $28.00 target price on the stock. Morgan Stanley boosted their target price on shares of Planet Labs PBC from $26.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $36.00 price target on shares of Planet Labs PBC in a report on Monday, June 15th. Cantor Fitzgerald lifted their price objective on Planet Labs PBC from $20.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, March 20th. Finally, Zacks Research upgraded Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.36.

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.