Zevenbergen Capital Investments LLC Cuts Position in Planet Labs PBC $PL

Zevenbergen Capital Investments LLC decreased its holdings in Planet Labs PBC (NYSE:PL) by 48.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 22,500 shares of the company’s stock after selling 21,500 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Planet Labs PBC were worth $444,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PL. MCF Advisors LLC acquired a new position in shares of Planet Labs PBC during the 3rd quarter worth approximately $32,000. Larson Financial Group LLC acquired a new stake in Planet Labs PBC in the 3rd quarter valued at $39,000. GAMMA Investing LLC grew its stake in Planet Labs PBC by 146.4% in the 4th quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock valued at $40,000 after acquiring an additional 1,195 shares during the period. Jones Financial Companies Lllp increased its holdings in Planet Labs PBC by 59.3% in 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. Finally, Advisory Services Network LLC purchased a new stake in Planet Labs PBC in the 3rd quarter worth $56,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Performance

PL opened at $28.05 on Tuesday. Planet Labs PBC has a twelve month low of $2.79 and a twelve month high of $37.05. The firm has a market capitalization of $9.71 billion, a PE ratio of -35.96 and a beta of 1.95. The company has a current ratio of 1.65, a quick ratio of 1.64 and a debt-to-equity ratio of 2.37. The firm’s 50-day moving average price is $25.75 and its 200 day moving average price is $19.00.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.43). Planet Labs PBC had a negative net margin of 80.22% and a negative return on equity of 69.61%. The business had revenue of $86.82 million during the quarter, compared to analyst estimates of $78.17 million. The company’s revenue for the quarter was up 41.1% on a year-over-year basis. As a group, sell-side analysts expect that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of Planet Labs PBC from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, March 25th. Craig Hallum restated a “buy” rating and set a $30.00 price target on shares of Planet Labs PBC in a research report on Tuesday, January 13th. Wedbush increased their target price on Planet Labs PBC from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, March 20th. Northland Securities set a $28.00 price target on Planet Labs PBC in a research note on Tuesday, January 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Planet Labs PBC from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Six equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.25.

Insider Activity at Planet Labs PBC

In related news, Director Vijaya Gadde sold 20,000 shares of Planet Labs PBC stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $26.77, for a total transaction of $535,400.00. Following the transaction, the director owned 250,169 shares in the company, valued at approximately $6,697,024.13. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kristen Robinson sold 47,835 shares of the business’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 transaction, the director directly owned 222,897 shares in the company, valued at $6,009,303.12. This trade represents a 17.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 218,566 shares of company stock valued at $5,896,276. 17.53% of the stock is currently owned by 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.