Planet Labs PBC (NYSE:PL) Director Vijaya Gadde Sells 20,000 Shares of Stock

Planet Labs PBC (NYSE:PL) Director Vijaya Gadde sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $26.77, for a total transaction of $535,400.00. Following the completion of the sale, the director directly owned 250,169 shares in the company, valued at $6,697,024.13. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Planet Labs PBC Stock Performance

NYSE:PL opened at $27.02 on Friday. Planet Labs PBC has a fifty-two week low of $2.79 and a fifty-two week high of $30.90. The company has a debt-to-equity ratio of 1.28, a quick ratio of 4.00 and a current ratio of 4.00. The company has a 50 day moving average price of $18.45 and a 200 day moving average price of $12.82. The stock has a market capitalization of $8.47 billion, a P/E ratio of -64.33 and a beta of 1.94.

Institutional Investors Weigh In On Planet Labs PBC

Several large investors have recently bought and sold shares of PL. Baillie Gifford & Co. acquired a new stake in Planet Labs PBC in the 4th quarter valued at about $32,000. GAMMA Investing LLC grew its position in shares of Planet Labs PBC by 146.4% during the fourth quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock worth $40,000 after buying an additional 1,195 shares in the last quarter. MCF Advisors LLC purchased a new stake in shares of Planet Labs PBC during the third quarter worth approximately $32,000. Larson Financial Group LLC acquired a new stake in Planet Labs PBC in the third quarter valued at approximately $39,000. Finally, Jones Financial Companies Lllp raised its holdings in 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 acquiring an additional 1,337 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PL. Needham & Company LLC boosted their price objective on Planet Labs PBC from $16.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Citigroup raised their target price on Planet Labs PBC from $19.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Planet Labs PBC from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Zacks Research cut shares of Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research report on Monday, December 22nd. Finally, Northland Securities set a $28.00 price objective on shares of Planet Labs PBC in a research note on Tuesday, January 13th. Eight equities 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.64.

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.