Planet Labs PBC (NYSE:PL) Director Sells 6,494 Shares of Stock

Planet Labs PBC (NYSE:PL) Director John Raymond sold 6,494 shares of the business’s stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $15.23, for a total value of $98,903.62. Following the transaction, the director directly owned 30,620 shares of the company’s stock, valued at $466,342.60. This trade represents a 17.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Planet Labs PBC Price Performance

Shares of PL stock traded down $1.04 on Wednesday, hitting $14.12. 10,438,389 shares of the company’s stock were exchanged, compared to its average volume of 12,053,729. The company has a 50 day moving average of $19.23 and a 200 day moving average of $28.30. The stock has a market cap of $5.14 billion, a P/E ratio of -12.83 and a beta of 2.17. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.84 and a quick ratio of 2.82. Planet Labs PBC has a 12 month low of $10.52 and a 12 month high of $51.76.

Planet Labs PBC (NYSE:PL) last released its earnings results on Thursday, September 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $116.05 million for the quarter, compared to analysts’ expectations of $104.53 million. Planet Labs PBC had a negative return on equity of 93.11% and a negative net margin of 95.13%. The business’s revenue for the quarter was up 58.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) earnings per share. On average, equities research analysts predict that Planet Labs PBC will post -0.91 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Planet Labs PBC from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Northland Securities set a $40.00 price objective on shares of Planet Labs PBC in a research note on Friday, September 4th. Craig Hallum set a $35.00 price objective on shares of Planet Labs PBC in a research note on Friday, September 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a research report on Friday, September 11th. Finally, Barclays assumed coverage on shares of Planet Labs PBC in a research note on Friday, October 9th. They set an “equal weight” rating and a $17.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Planet Labs PBC presently has an average rating of “Hold” and a consensus price target of $31.56.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PL. Catalyst Private Wealth LLC acquired a new stake in Planet Labs PBC during the 3rd quarter worth approximately $342,000. Mirador Capital Partners LP raised its stake in shares of Planet Labs PBC by 6.2% during the third quarter. Mirador Capital Partners LP now owns 12,910 shares of the company’s stock valued at $212,000 after acquiring an additional 753 shares during the last quarter. Green Alpha Advisors LLC acquired a new position in shares of Planet Labs PBC during the third quarter worth $835,000. Farther Finance Advisors LLC lifted its holdings in shares of Planet Labs PBC by 25.0% during the third quarter. Farther Finance Advisors LLC now owns 10,754 shares of the company’s stock worth $176,000 after purchasing an additional 2,148 shares during the period. Finally, First Community Trust NA grew its stake in shares of Planet Labs PBC by 275.7% in the third quarter. First Community Trust NA now owns 22,612 shares of the company’s stock worth $371,000 after purchasing an additional 16,594 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

About Planet Labs PBC

Planet Labs PBC is an Earth-imaging and geospatial data company that operates a constellation of satellites designed to provide frequent, high-resolution imagery of the planet. Its data is used to monitor changes in land, infrastructure, agriculture, forests, oceans and other environments.

The company’s products include PlanetScope, a satellite imagery service intended to provide frequent coverage of large areas; SkySat, which offers higher-resolution imagery and video capabilities; and other satellite and data products, including hyperspectral imaging initiatives.