Ranger Investment Management L.P. Takes $2.69 Million Position in Planet Labs PBC $PL

Ranger Investment Management L.P. purchased a new stake in shares of Planet Labs PBC (NYSE:PL) in the third quarter, HoldingsChannel reports. The institutional investor purchased 207,060 shares of the company’s stock, valued at approximately $2,688,000.

Other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its position in Planet Labs PBC by 59.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,591 shares of the company’s stock worth $44,000 after purchasing an additional 1,337 shares in the last quarter. CWM LLC raised its holdings in shares of Planet Labs PBC by 129.9% during the third quarter. CWM LLC now owns 9,276 shares of the company’s stock worth $120,000 after acquiring an additional 5,241 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Planet Labs PBC by 45.1% in the second quarter. SBI Securities Co. Ltd. now owns 9,877 shares of the company’s stock valued at $60,000 after purchasing an additional 3,068 shares in the last quarter. Heritage Oak Wealth Advisors LLC purchased a new stake in shares of Planet Labs PBC during the 3rd quarter worth about $130,000. Finally, Atlatl Advisers LLC acquired a new stake in shares of Planet Labs PBC during the 3rd quarter valued at about $130,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Insider Transactions at Planet Labs PBC

In related news, Director Vijaya Gadde sold 20,000 shares of Planet Labs PBC stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $26.77, for a total transaction of $535,400.00. Following the sale, the director directly owned 250,169 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert H. Schingler sold 73,782 shares of the firm’s stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $19.35, for a total value of $1,427,681.70. Following the completion of the sale, the insider owned 1,164,729 shares of the company’s stock, valued at $22,537,506.15. This represents a 5.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 292,368 shares of company stock valued at $7,324,211 in the last ninety days. 17.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PL has been the topic of several recent research reports. JMP Securities reaffirmed a “market perform” rating on shares of Planet Labs PBC in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Planet Labs PBC in a report on Thursday, January 22nd. Craig Hallum restated a “buy” rating and issued a $30.00 price objective on shares of Planet Labs PBC in a research note on Tuesday, January 13th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $16.40 target price on shares of Planet Labs PBC in a research note on Tuesday, January 20th. Finally, Morgan Stanley boosted their target price on shares of Planet Labs PBC from $20.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.88.

Planet Labs PBC Trading Up 4.9%

Shares of PL stock opened at $21.43 on Friday. The firm has a market capitalization of $6.72 billion, a P/E ratio of -50.75 and a beta of 1.94. Planet Labs PBC has a 1 year low of $2.79 and a 1 year high of $30.90. The firm’s fifty day simple moving average is $20.82 and its 200 day simple moving average is $13.95. 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 posted its quarterly earnings results on Wednesday, December 10th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.02. Planet Labs PBC had a negative net margin of 45.87% and a negative return on equity of 31.01%. The company had revenue of $81.25 million for the quarter, compared to analyst estimates of $72.02 million. During the same period last year, the business posted ($0.02) EPS. The business’s quarterly revenue was up 32.6% on a year-over-year basis. As a group, sell-side analysts predict that Planet Labs PBC will post -0.37 EPS for the current year.

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.