Insider Selling: Planet Labs PBC (NYSE:PL) Director Sells 47,835 Shares of Stock

Planet Labs PBC (NYSE:PL) Director Kristen Robinson sold 47,835 shares of Planet Labs PBC stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $26.96, for a total transaction of $1,289,631.60. Following the completion of the transaction, the director owned 222,897 shares in the company, valued at $6,009,303.12. This trade represents a 17.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Planet Labs PBC Stock Up 3.7%

Shares of NYSE:PL traded up $0.96 during midday trading on Friday, hitting $27.02. The company’s stock had a trading volume of 14,816,450 shares, compared to its average volume of 12,400,011. 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 50 day simple moving average is $18.14 and its 200 day simple moving average is $12.68. Planet Labs PBC has a fifty-two week low of $2.79 and a fifty-two week high of $30.90.

Hedge Funds Weigh In On Planet Labs PBC

A number of hedge funds have recently made changes to their positions in PL. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Planet Labs PBC by 2.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 31,264 shares of the company’s stock worth $406,000 after acquiring an additional 781 shares during the period. Victory Capital Management Inc. lifted its stake in Planet Labs PBC by 3.6% during the third quarter. Victory Capital Management Inc. now owns 25,855 shares of the company’s stock worth $336,000 after purchasing an additional 896 shares during the period. Ariadne Wealth Management LP boosted its holdings in Planet Labs PBC by 8.8% during the third quarter. Ariadne Wealth Management LP now owns 11,202 shares of the company’s stock valued at $145,000 after purchasing an additional 905 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Planet Labs PBC by 4.5% in the 3rd quarter. Valeo Financial Advisors LLC now owns 21,641 shares of the company’s stock valued at $281,000 after purchasing an additional 925 shares during the period. Finally, 180 Wealth Advisors LLC raised its holdings in shares of Planet Labs PBC by 0.8% in the 3rd quarter. 180 Wealth Advisors LLC now owns 147,032 shares of the company’s stock worth $1,908,000 after buying an additional 1,114 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PL. Needham & Company LLC increased their price objective on Planet Labs PBC from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Planet Labs PBC in a research report on Wednesday, October 8th. National Bankshares set a $12.30 price target on shares of Planet Labs PBC in a report on Tuesday, December 16th. 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. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Planet Labs PBC from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.64.

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.