Planet Labs PBC $PL Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its position in Planet Labs PBC (NYSE:PL) by 574.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 145,751 shares of the company’s stock after buying an additional 124,150 shares during the period. Quantinno Capital Management LP’s holdings in Planet Labs PBC were worth $4,074,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PL. AQR Capital Management LLC raised its holdings in shares of Planet Labs PBC by 671.1% in the 1st quarter. AQR Capital Management LLC now owns 92,693 shares of the company’s stock worth $313,000 after purchasing an additional 80,672 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Planet Labs PBC during the first quarter worth approximately $189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Planet Labs PBC by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 130,798 shares of the company’s stock valued at $442,000 after purchasing an additional 8,143 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Planet Labs PBC by 54.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock valued at $6,274,000 after purchasing an additional 653,173 shares during the period. Finally, Thompson Davis & CO. Inc. purchased a new position in Planet Labs PBC in the 2nd quarter worth about $121,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Northland Securities set a $50.00 price objective on shares of Planet Labs PBC in a research report on Friday, June 5th. Wedbush assumed coverage on Planet Labs PBC in a report on Wednesday, July 1st. They set an “outperform” rating and a $50.00 price target for the company. The Goldman Sachs Group lifted their price objective on shares of Planet Labs PBC from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $36.00 target price on shares of Planet Labs PBC in a report on Monday, June 15th. Finally, New Street Research began coverage on shares of Planet Labs PBC in a research report on Wednesday, May 13th. They issued a “sell” rating and a $28.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Planet Labs PBC presently has an average rating of “Hold” and an average target price of $35.36.

Insider Buying and Selling at Planet Labs PBC

In other news, insider Robert H. Schingler sold 25,000 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $25.92, for a total value of $648,000.00. Following the transaction, the insider owned 225,171 shares of the company’s stock, valued at $5,836,432.32. This represents a 9.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ashley F. Johnson sold 75,035 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $22.08, for a total value of $1,656,772.80. Following the completion of the sale, the chief financial officer directly owned 1,132,122 shares of the company’s stock, valued at approximately $24,997,253.76. This trade represents a 6.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 171,122 shares of company stock worth $4,148,906. Insiders own 16.42% of the company’s stock.

Planet Labs PBC Stock Up 5.3%

Shares of NYSE PL opened at $23.92 on Friday. Planet Labs PBC has a 12-month low of $6.10 and a 12-month high of $51.76. The firm’s 50-day simple moving average is $28.00 and its 200 day simple moving average is $30.43. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 1.01. The company has a market cap of $8.53 billion, a price-to-earnings ratio of -20.99 and a beta of 2.11.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The firm had revenue of $94.15 million during the quarter, compared to analysts’ expectations of $90.39 million. The business’s revenue was up 42.1% compared to the same quarter last year. On average, research analysts expect that Planet Labs PBC will post -0.92 earnings per share for the current fiscal year.

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.