Ranger Investment Management L.P. Makes New Investment in Planet Labs PBC $PL

Ranger Investment Management L.P. purchased a new stake in shares of Planet Labs PBC (NYSE:PL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 207,060 shares of the company’s stock, valued at approximately $2,688,000. Ranger Investment Management L.P. owned 0.07% of Planet Labs PBC at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in PL. Jones Financial Companies Lllp grew its holdings in Planet Labs PBC by 59.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,591 shares of the company’s stock worth $44,000 after acquiring an additional 1,337 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in Planet Labs PBC by 45.1% during the second quarter. SBI Securities Co. Ltd. now owns 9,877 shares of the company’s stock valued at $60,000 after buying an additional 3,068 shares during the period. Tableaux LLC bought a new position in Planet Labs PBC in the second quarter worth approximately $61,000. May Hill Capital LLC bought a new stake in Planet Labs PBC during the 2nd quarter valued at $62,000. Finally, Los Angeles Capital Management LLC purchased a new position in Planet Labs PBC in the second quarter valued at about $68,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Planet Labs PBC Trading Up 4.9%

Shares of PL opened at $21.43 on Friday. Planet Labs PBC has a twelve month low of $2.79 and a twelve month high of $30.90. The firm has a market capitalization of $6.72 billion, a P/E ratio of -50.75 and a beta of 1.94. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 1.28. The stock’s fifty day simple moving average is $20.82 and its 200 day simple moving average is $13.95.

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

Insider Buying and Selling at Planet Labs PBC

In other Planet Labs PBC news, Director Vijaya Gadde sold 20,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $26.77, for a total value of $535,400.00. Following the transaction, the director directly owned 250,169 shares of the company’s stock, valued at $6,697,024.13. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert H. Schingler sold 73,782 shares of Planet Labs PBC stock in a transaction on Friday, December 26th. The stock was sold at an average price of $19.35, for a total transaction of $1,427,681.70. Following the sale, the insider directly owned 1,164,729 shares in the company, valued at $22,537,506.15. This trade represents a 5.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 292,368 shares of company stock worth $7,324,211. Insiders own 17.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Zacks Research lowered shares of Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research note on Monday, December 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $16.40 price target on shares of Planet Labs PBC in a research report on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a research note on Thursday, January 22nd. National Bankshares set a $12.30 target price on Planet Labs PBC in a research report on Tuesday, December 16th. Finally, Wedbush lifted their price objective on shares of Planet Labs PBC from $20.00 to $28.00 and gave the company an “outperform” rating in a research note on Tuesday, January 13th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Planet Labs PBC currently has an average rating of “Hold” and a consensus price target of $21.88.

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.