Planet Labs PBC (NYSE:PL) Insider Robert Schingler Sells 52,240 Shares

Planet Labs PBC (NYSE:PL) insider Robert Schingler sold 52,240 shares of Planet Labs PBC stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $16.96, for a total transaction of $885,990.40. Following the transaction, the insider owned 170,171 shares of the company’s stock, valued at $2,886,100.16. This represents a 23.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Planet Labs PBC Trading Up 6.5%

PL opened at $17.07 on Friday. Planet Labs PBC has a fifty-two week low of $10.22 and a fifty-two week high of $51.76. The firm has a market capitalization of $6.21 billion, a PE ratio of -15.51 and a beta of 2.10. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.84 and a quick ratio of 2.82. The company’s 50-day moving average is $21.23 and its 200 day moving average is $29.62.

Planet Labs PBC (NYSE:PL) last released its quarterly 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. Planet Labs PBC had a negative return on equity of 93.11% and a negative net margin of 95.13%.The business had revenue of $116.05 million during the quarter, compared to the consensus estimate of $104.53 million. During the same quarter in the previous year, the business earned ($0.07) EPS. The company’s quarterly revenue was up 58.2% on a year-over-year basis. As a group, research analysts predict that Planet Labs PBC will post -0.91 earnings per share for the current fiscal year.

Institutional Trading of Planet Labs PBC

A number of institutional investors and hedge funds have recently modified their holdings of PL. Pittenger & Anderson Inc. boosted its holdings in Planet Labs PBC by 40.9% in the 1st quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock worth $38,000 after buying an additional 395 shares during the period. Wellington Shields & Co. LLC raised its holdings in Planet Labs PBC by 2.8% during the 4th quarter. Wellington Shields & Co. LLC now owns 15,776 shares of the company’s stock valued at $311,000 after acquiring an additional 435 shares during the period. KBC Group NV raised its holdings in Planet Labs PBC by 7.1% during the 1st quarter. KBC Group NV now owns 9,985 shares of the company’s stock valued at $279,000 after acquiring an additional 661 shares during the period. Arizona State Retirement System lifted its position in shares of Planet Labs PBC by 1.0% during the second quarter. Arizona State Retirement System now owns 68,998 shares of the company’s stock worth $2,286,000 after acquiring an additional 705 shares in the last quarter. Finally, American Capital Advisory LLC purchased a new stake in shares of Planet Labs PBC during the first quarter worth $28,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wedbush began coverage on Planet Labs PBC in a research report on Wednesday, July 1st. They issued an “outperform” rating and a $50.00 price target for the company. Needham & Company LLC cut their price objective on shares of Planet Labs PBC from $53.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, September 4th. Zacks Research upgraded shares of Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Citizens Jmp reiterated a “market perform” rating on shares of Planet Labs PBC in a research note on Friday, September 4th. Finally, Berenberg Bank initiated coverage on shares of Planet Labs PBC in a report on Wednesday, September 2nd. They issued a “buy” rating and a $25.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.77.

Planet Labs PBC Company Profile

Planet Labs PBC is an Earth-imaging and geospatial data company that operates a constellation of satellites designed to provide frequent imagery of the planet’s landmass. The company collects, processes and delivers satellite imagery and related data products through cloud-based platforms and application programming interfaces.

Its offerings include PlanetScope imagery for broad-area monitoring, SkySat imagery for higher-resolution observation, and specialized products that support change detection, mapping and environmental analysis.