Planet Labs PBC (NYSE:PL) Insider Robert Schingler Sells 73,782 Shares

Planet Labs PBC (NYSE:PL) insider Robert Schingler sold 73,782 shares of Planet Labs PBC stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $19.35, for a total transaction of $1,427,681.70. Following the completion of the sale, the insider owned 1,164,729 shares in the company, valued at $22,537,506.15. This trade represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Planet Labs PBC Stock Performance

Shares of PL opened at $19.77 on Wednesday. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of -47.08 and a beta of 2.00. Planet Labs PBC has a 12 month low of $2.79 and a 12 month high of $20.99. The firm has a fifty day simple moving average of $14.22 and a 200 day simple moving average of $10.55. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 1.28.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings results on Wednesday, December 10th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.17). Planet Labs PBC had a negative return on equity of 31.01% and a negative net margin of 45.87%.The business had revenue of $81.25 million for the quarter, compared to the consensus estimate of $72.02 million. Planet Labs PBC’s revenue was up 32.6% on a year-over-year basis. Research analysts forecast that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Northland Securities set a $17.00 price objective on Planet Labs PBC in a research note on Thursday, December 11th. Citizens Jmp lowered shares of Planet Labs PBC from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 21st. Wedbush increased their price target on shares of Planet Labs PBC from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, December 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Planet Labs PBC from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Needham & Company LLC upped their target price on shares of Planet Labs PBC from $16.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.74.

Institutional Trading of Planet Labs PBC

A number of hedge funds have recently modified their holdings of PL. MCF Advisors LLC bought a new stake in shares of Planet Labs PBC during the 3rd quarter worth about $32,000. Iron Gate Global Advisors LLC acquired a new stake in Planet Labs PBC during the first quarter worth approximately $36,000. HighTower Advisors LLC bought a new stake in shares of Planet Labs PBC during the first quarter worth approximately $37,000. Larson Financial Group LLC acquired a new position in shares of Planet Labs PBC in the third quarter valued at approximately $39,000. Finally, Jones Financial Companies Lllp grew its position in shares of Planet Labs PBC by 59.3% in the third quarter. Jones Financial Companies Lllp now owns 3,591 shares of the company’s stock valued at $44,000 after purchasing an additional 1,337 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

About Planet Labs PBC

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.