Planet Labs PBC $PL Position Lifted by Vontobel Holding Ltd.

Vontobel Holding Ltd. grew its holdings in shares of Planet Labs PBC (NYSE:PL) by 111.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,405 shares of the company’s stock after acquiring an additional 43,374 shares during the period. Vontobel Holding Ltd.’s holdings in Planet Labs PBC were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Planet Labs PBC by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,013,187 shares of the company’s stock worth $112,167,000 after purchasing an additional 70,986 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Planet Labs PBC by 80.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,932,381 shares of the company’s stock valued at $54,010,000 after purchasing an additional 861,306 shares in the last quarter. Tidal Investments LLC lifted its position in Planet Labs PBC by 5,339.2% during the second quarter. Tidal Investments LLC now owns 1,591,020 shares of the company’s stock valued at $52,710,000 after purchasing an additional 1,561,769 shares in the last quarter. Tema ETFs LLC lifted its position in Planet Labs PBC by 75,804.6% during the second quarter. Tema ETFs LLC now owns 1,590,960 shares of the company’s stock valued at $52,709,000 after purchasing an additional 1,588,864 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Planet Labs PBC by 36.5% during the first quarter. Renaissance Technologies LLC now owns 1,021,180 shares of the company’s stock valued at $28,542,000 after purchasing an additional 273,300 shares during the period. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Up 0.5%

PL opened at $13.62 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.82 and a current ratio of 2.84. Planet Labs PBC has a fifty-two week low of $10.52 and a fifty-two week high of $51.76. The firm’s fifty day moving average is $18.50 and its 200 day moving average is $27.85. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of -12.39 and a beta of 2.17.

Planet Labs PBC (NYSE:PL) last issued its earnings results on Thursday, September 3rd. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. Planet Labs PBC had a negative net margin of 95.13% and a negative return on equity of 93.11%. The company had revenue of $116.05 million during the quarter, compared to the consensus estimate of $104.53 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. Planet Labs PBC’s quarterly revenue was up 58.2% compared to the same quarter last year. On average, sell-side analysts forecast that Planet Labs PBC will post -0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ita Brennan sold 11,500 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $16.30, for a total value of $187,450.00. Following the completion of the transaction, the director owned 250,373 shares of the company’s stock, valued at $4,081,079.90. This represents a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kristen Robinson sold 40,000 shares of the stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $14.14, for a total value of $565,600.00. Following the sale, the director owned 182,897 shares of the company’s stock, valued at $2,586,163.58. This represents a 17.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 240,932 shares of company stock valued at $4,338,761. Insiders own 16.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on PL shares. Needham & Company LLC reduced their price target on Planet Labs PBC from $53.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, September 4th. Citigroup downgraded Planet Labs PBC from a “market perform” rating to a “hold” rating in a research note on Friday, September 4th. Morgan Stanley lowered their price objective on Planet Labs PBC from $35.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Friday. Northland Securities set a $40.00 price objective on Planet Labs PBC in a research note on Friday, September 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Planet Labs PBC in a research note on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.33.

Planet Labs PBC Company Profile

Planet Labs PBC is a space and data analytics company that operates a large fleet of Earth-observation satellites. The company captures frequently updated imagery of land and coastal areas worldwide, helping organizations monitor changes and make decisions based on current geospatial information.

Planet’s product portfolio includes PlanetScope, which provides high-frequency satellite imagery, and SkySat, which offers higher-resolution imagery for more detailed analysis. The company also develops specialized satellite and data products, including hyperspectral capabilities, and provides cloud-based platforms, application programming interfaces and analytical tools that allow customers to access, analyze and integrate geospatial data into their own workflows.

Its customers and partners include businesses, governments, researchers and nonprofit organizations in areas such as agriculture, mapping, forestry, energy, infrastructure, insurance, defense and climate monitoring.