Polianta Ltd Buys New Holdings in Planet Labs PBC $PL

Polianta Ltd purchased a new position in shares of Planet Labs PBC (NYSE:PL) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 47,900 shares of the company’s stock, valued at approximately $1,338,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Planet Labs PBC by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 19,358,515 shares of the company’s stock worth $381,750,000 after buying an additional 806,818 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Planet Labs PBC by 0.3% in the second quarter. Canada Pension Plan Investment Board now owns 7,820,400 shares of the company’s stock valued at $47,704,000 after buying an additional 20,400 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Planet Labs PBC by 320.3% in the fourth quarter. Van ECK Associates Corp now owns 7,678,938 shares of the company’s stock valued at $151,429,000 after buying an additional 5,851,758 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Planet Labs PBC by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 5,702,642 shares of the company’s stock worth $112,475,000 after acquiring an additional 71,381 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Planet Labs PBC by 7.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,137,871 shares of the company’s stock worth $81,599,000 after acquiring an additional 301,757 shares during the period. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Trading Down 0.2%

Shares of NYSE:PL opened at $28.18 on Friday. Planet Labs PBC has a 12-month low of $4.90 and a 12-month high of $51.76. The stock has a market cap of $10.04 billion, a PE ratio of -24.72 and a beta of 1.99. The business has a 50 day moving average of $38.29 and a 200-day moving average of $28.94. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 1.01.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Morgan Stanley increased their price target on 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. Cantor Fitzgerald lifted their price objective on shares of Planet Labs PBC from $20.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Weiss Ratings raised shares of Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Needham & Company LLC upped their price objective on shares of Planet Labs PBC from $40.00 to $53.00 and gave the company a “buy” rating in a report on Friday, June 5th. Finally, New Street Research initiated coverage on shares of Planet Labs PBC in a research report on Wednesday, May 13th. They issued a “sell” rating and a $28.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $35.11.

Insiders Place Their Bets

In other news, insider Robert H. Schingler sold 73,683 shares of Planet Labs PBC stock in a transaction on Monday, April 6th. The stock was sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the completion of the sale, the insider owned 256,488 shares of the company’s stock, valued at approximately $8,995,034.16. This trade represents a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ashley F. Johnson sold 200,000 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the completion of the sale, the chief financial officer directly owned 1,895,162 shares of the company’s stock, valued at approximately $66,520,186.20. The trade was a 9.55% decrease in their position. The SEC filing for this sale provides additional information. 16.42% of the stock is currently owned by company insiders.

Planet Labs PBC 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.