Planet Labs PBC $PL Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its holdings in Planet Labs PBC (NYSE:PL) by 24.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 998,314 shares of the company’s stock after selling 324,949 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.33% of Planet Labs PBC worth $6,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PL. Vanguard Group Inc. grew its position in shares of Planet Labs PBC by 1.6% in the first quarter. Vanguard Group Inc. now owns 16,213,565 shares of the company’s stock valued at $54,802,000 after purchasing an additional 261,171 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Planet Labs PBC by 54.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock worth $6,274,000 after purchasing an additional 653,173 shares during the last quarter. Liontrust Investment Partners LLP lifted its stake in Planet Labs PBC by 175.0% in the 1st quarter. Liontrust Investment Partners LLP now owns 1,066,133 shares of the company’s stock valued at $3,604,000 after buying an additional 678,486 shares in the last quarter. LBP AM SA lifted its stake in Planet Labs PBC by 17.0% in the 2nd quarter. LBP AM SA now owns 934,158 shares of the company’s stock valued at $5,698,000 after buying an additional 135,680 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Planet Labs PBC by 144.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 709,657 shares of the company’s stock valued at $2,399,000 after buying an additional 419,773 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Trading Down 0.4%

NYSE PL opened at $12.41 on Thursday. Planet Labs PBC has a 52 week low of $2.69 and a 52 week high of $16.78. The stock has a market cap of $3.82 billion, a P/E ratio of -41.38 and a beta of 1.99. The company’s fifty day simple moving average is $12.45 and its 200-day simple moving average is $7.95.

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

Insider Buying and Selling at Planet Labs PBC

In other Planet Labs PBC news, insider Robert H. Schingler sold 81,656 shares of the stock in a transaction on 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 sale, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 17.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PL. Citigroup reissued an “outperform” rating on shares of Planet Labs PBC in a report on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on Planet Labs PBC from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a report on Wednesday, October 8th. Needham & Company LLC raised their price target on shares of Planet Labs PBC from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Finally, Wedbush lifted their price target 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. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Planet Labs PBC presently has a consensus rating of “Moderate Buy” and an average target price of $11.26.

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.