Sei Investments Co. Acquires 91,654 Shares of Planet Labs PBC $PL

Sei Investments Co. boosted its holdings in shares of Planet Labs PBC (NYSE:PL) by 76.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 212,182 shares of the company’s stock after purchasing an additional 91,654 shares during the quarter. Sei Investments Co. owned about 0.06% of Planet Labs PBC worth $5,930,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PL. American Capital Advisory LLC acquired a new position in shares of Planet Labs PBC during the first quarter worth approximately $28,000. Parkside Financial Bank & Trust grew its stake in shares of Planet Labs PBC by 92.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock worth $31,000 after acquiring an additional 745 shares during the last quarter. Baillie Gifford & Co. bought a new position in Planet Labs PBC during the fourth quarter worth $32,000. Pittenger & Anderson Inc. increased its position in Planet Labs PBC by 40.9% during the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock worth $38,000 after acquiring an additional 395 shares during the period. Finally, Larson Financial Group LLC acquired a new position in Planet Labs PBC during the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Stock Up 6.3%

PL opened at $22.89 on Wednesday. Planet Labs PBC has a fifty-two week low of $6.10 and a fifty-two week high of $51.76. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.81 and a quick ratio of 2.78. The firm’s fifty day moving average price is $29.68 and its two-hundred day moving average price is $30.56. The company has a market capitalization of $8.16 billion, a P/E ratio of -20.08 and a beta of 2.11.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings results on Thursday, June 4th. The company reported ($0.03) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $90.39 million. The business’s revenue for the quarter was up 42.1% compared to the same quarter last year. On average, analysts anticipate that Planet Labs PBC will post -0.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PL shares. Northland Securities set a $50.00 price target on shares of Planet Labs PBC in a report on Friday, June 5th. Needham & Company LLC boosted their price objective on shares of Planet Labs PBC from $40.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Craig Hallum upped their price objective on shares of Planet Labs PBC from $36.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $36.00 target price on shares of Planet Labs PBC in a research note on Monday, June 15th. Finally, Weiss Ratings raised Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Planet Labs PBC currently has an average rating of “Hold” and an average price target of $35.36.

Insider Activity at Planet Labs PBC

In other Planet Labs PBC news, CFO Ashley F. Johnson sold 75,035 shares of Planet Labs PBC stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total transaction of $1,656,772.80. Following the sale, the chief financial officer directly owned 1,132,122 shares of the company’s stock, valued at approximately $24,997,253.76. The trade was a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert H. Schingler sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $25.92, for a total value of $648,000.00. Following the completion of the sale, the insider owned 225,171 shares in the company, valued at approximately $5,836,432.32. This represents a 9.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 171,122 shares of company stock valued at $4,148,906 over the last quarter. 16.42% of the stock is owned by company insiders.

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.