Planet Labs PBC $PL Shares Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its position in shares of Planet Labs PBC (NYSE:PL) by 22.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 860,280 shares of the company’s stock after buying an additional 160,280 shares during the period. King Luther Capital Management Corp’s holdings in Planet Labs PBC were worth $11,166,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted 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 purchasing an additional 781 shares during the period. Valeo Financial Advisors LLC grew its position in shares of Planet Labs PBC by 4.5% in the third quarter. Valeo Financial Advisors LLC now owns 21,641 shares of the company’s stock valued at $281,000 after purchasing an additional 925 shares during the period. 180 Wealth Advisors LLC increased its stake in Planet Labs PBC by 0.8% in 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. Arizona State Retirement System lifted its position in Planet Labs PBC by 1.8% during the third quarter. Arizona State Retirement System now owns 62,646 shares of the company’s stock worth $813,000 after buying an additional 1,121 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in shares of Planet Labs PBC by 59.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,591 shares of the company’s stock valued at $44,000 after acquiring an additional 1,337 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PL shares. Wedbush upped their price target 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. National Bank Financial set a $12.30 price target on Planet Labs PBC in a research report on Tuesday, December 16th. Citigroup raised their price objective on Planet Labs PBC from $19.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Zacks Research raised Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Finally, Northland Securities set a $28.00 target price on shares of Planet Labs PBC in a research report on Tuesday, January 13th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.88.

Insider Activity

In other Planet Labs PBC news, insider Robert H. Schingler sold 73,782 shares of the company’s stock in a transaction dated 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 represents a 5.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kristen Robinson sold 47,835 shares of Planet Labs PBC stock in a transaction dated 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 sale, the director directly owned 222,897 shares in the company, valued at approximately $6,009,303.12. The trade was a 17.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 292,348 shares of company stock valued at $7,323,958. Corporate insiders own 17.53% of the company’s stock.

Planet Labs PBC Stock Performance

Shares of NYSE:PL opened at $25.08 on Friday. The company has a market cap of $7.87 billion, a P/E ratio of -59.71 and a beta of 1.94. Planet Labs PBC has a one year low of $2.79 and a one year high of $30.90. The business’s 50-day simple moving average is $22.79 and its 200 day simple moving average is $15.08. The company has a debt-to-equity ratio of 1.28, a quick ratio of 4.00 and a current ratio of 4.00.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings data on Wednesday, December 10th. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.02. The company had revenue of $81.25 million for the quarter, compared to analyst estimates of $72.02 million. Planet Labs PBC had a negative net margin of 45.87% and a negative return on equity of 31.01%. The business’s quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) earnings per share. On average, sell-side analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

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.