Kristen Robinson Sells 47,835 Shares of Planet Labs PBC (NYSE:PL) Stock

Planet Labs PBC (NYSE:PL) Director Kristen Robinson sold 47,835 shares of the firm’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $26.96, for a total value of $1,289,631.60. Following the completion of the sale, the director directly owned 222,897 shares of the company’s stock, valued at approximately $6,009,303.12. This trade represents a 17.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Planet Labs PBC Price Performance

NYSE:PL traded up $0.96 during trading hours on Friday, hitting $27.02. 14,816,450 shares of the company’s stock traded hands, compared to its average volume of 12,400,011. The stock’s fifty day moving average price is $18.14 and its two-hundred day moving average price is $12.68. 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 twelve month low of $2.79 and a twelve month high of $30.90.

Hedge Funds Weigh In On Planet Labs PBC

Institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Planet Labs PBC by 2.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 31,264 shares of the company’s stock worth $406,000 after acquiring an additional 781 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Planet Labs PBC by 3.6% in the 3rd quarter. Victory Capital Management Inc. now owns 25,855 shares of the company’s stock worth $336,000 after purchasing an additional 896 shares during the last quarter. Ariadne Wealth Management LP boosted its position in Planet Labs PBC by 8.8% during the third quarter. Ariadne Wealth Management LP now owns 11,202 shares of the company’s stock worth $145,000 after purchasing an additional 905 shares during the period. Valeo Financial Advisors LLC boosted its position in Planet Labs PBC by 4.5% during the third quarter. Valeo Financial Advisors LLC now owns 21,641 shares of the company’s stock worth $281,000 after purchasing an additional 925 shares during the period. Finally, 180 Wealth Advisors LLC grew its holdings in Planet Labs PBC by 0.8% during the third quarter. 180 Wealth Advisors LLC now owns 147,032 shares of the company’s stock valued at $1,908,000 after purchasing an additional 1,114 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PL shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Planet Labs PBC in a research note 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. Zacks Research cut Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research report on Monday, December 22nd. JMP Securities reaffirmed a “market perform” rating on shares of Planet Labs PBC in a research report on Tuesday, October 21st. Finally, Wedbush raised their price target on Planet Labs PBC from $20.00 to $28.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 13th. Eight investment 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. According to MarketBeat.com, Planet Labs PBC has a consensus rating of “Hold” and a consensus target price of $20.64.

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.