KLP Kapitalforvaltning AS Grows Stake in Planet Labs PBC $PL

KLP Kapitalforvaltning AS lifted its stake in shares of Planet Labs PBC (NYSE:PL) by 49.4% in the second quarter, HoldingsChannel.com reports. The fund owned 52,000 shares of the company’s stock after acquiring an additional 17,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Planet Labs PBC were worth $317,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PL. Iron Gate Global Advisors LLC bought a new stake in shares of Planet Labs PBC during the 1st quarter worth $36,000. HighTower Advisors LLC bought a new stake in shares of Planet Labs PBC during the 1st quarter worth $37,000. Forum Financial Management LP bought a new stake in shares of Planet Labs PBC during the 1st quarter worth $39,000. Wellington Shields & Co. LLC bought a new stake in shares of Planet Labs PBC during the 1st quarter worth $39,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Planet Labs PBC by 32.1% during the 1st quarter. Mackenzie Financial Corp now owns 13,364 shares of the company’s stock worth $45,000 after acquiring an additional 3,245 shares during the last quarter. 41.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PL has been the subject of a number of research analyst reports. Needham & Company LLC lifted their price objective on shares of Planet Labs PBC from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Wedbush lifted their price objective on shares of Planet Labs PBC from $11.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 2nd. Cantor Fitzgerald lifted their price objective on shares of Planet Labs PBC from $8.50 to $20.00 and gave the stock an “overweight” rating in a report on Friday. The Goldman Sachs Group started coverage on shares of Planet Labs PBC in a research note on Monday, June 30th. They issued a “neutral” rating and a $4.60 price target for the company. Finally, JMP Securities boosted their price target on shares of Planet Labs PBC from $8.00 to $11.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 9th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.71.

Planet Labs PBC Stock Down 0.9%

Planet Labs PBC stock opened at $13.11 on Monday. The company has a market capitalization of $4.04 billion, a PE ratio of -43.68 and a beta of 1.99. The firm has a fifty day simple moving average of $10.22 and a two-hundred day simple moving average of $6.72. Planet Labs PBC has a twelve month low of $2.18 and a twelve month high of $16.78.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings results on Monday, September 8th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The business had revenue of $73.39 million during the quarter, compared to the consensus estimate of $65.88 million. Planet Labs PBC had a negative return on equity of 20.25% and a negative net margin of 34.46%.The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) earnings per share. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Insider Activity at Planet Labs PBC

In other news, insider Robert H. Schingler sold 81,656 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $15.50, for a total transaction of $1,265,668.00. Following the completion of the transaction, the insider directly owned 1,288,843 shares of the company’s stock, valued at approximately $19,977,066.50. This represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 17.53% of the company’s stock.

Planet Labs PBC Company Profile

Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company’s platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.