Robert Schingler Sells 73,782 Shares of Planet Labs PBC (NYSE:PL) Stock

Planet Labs PBC (NYSE:PL) insider Robert Schingler sold 73,782 shares of Planet Labs PBC stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $19.35, for a total value of $1,427,681.70. Following the transaction, the insider directly owned 1,164,729 shares in the company, valued at approximately $22,537,506.15. This trade represents a 5.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Planet Labs PBC Stock Down 0.5%

Shares of PL stock traded down $0.10 during trading on Tuesday, hitting $19.77. 7,488,222 shares of the company were exchanged, compared to its average volume of 8,846,261. The business’s 50-day simple moving average is $14.08 and its 200 day simple moving average is $10.44. Planet Labs PBC has a twelve month low of $2.79 and a twelve month high of $20.99. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of -47.08 and a beta of 2.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 4.00 and a current ratio of 4.00.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Wednesday, December 10th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.17). The company had revenue of $81.25 million during the quarter, compared to analyst estimates of $72.02 million. Planet Labs PBC had a negative net margin of 45.87% and a negative return on equity of 31.01%. The company’s revenue was up 32.6% on a year-over-year basis. As a group, analysts forecast that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Planet Labs PBC

A number of institutional investors have recently made changes to their positions in the business. Mirova lifted its position in shares of Planet Labs PBC by 19.2% during the 3rd quarter. Mirova now owns 320,462 shares of the company’s stock worth $4,160,000 after purchasing an additional 51,685 shares during the last quarter. FNY Investment Advisers LLC increased its position in Planet Labs PBC by 418.2% in the 3rd quarter. FNY Investment Advisers LLC now owns 78,500 shares of the company’s stock worth $1,018,000 after buying an additional 63,350 shares during the period. Allworth Financial LP lifted its holdings in shares of Planet Labs PBC by 66.5% during the third quarter. Allworth Financial LP now owns 30,162 shares of the company’s stock worth $392,000 after buying an additional 12,044 shares during the last quarter. Swiss Life Asset Management Ltd bought a new stake in shares of Planet Labs PBC in the third quarter valued at approximately $134,000. Finally, Cambria Investment Management L.P. grew its stake in shares of Planet Labs PBC by 25.0% in the third quarter. Cambria Investment Management L.P. now owns 142,743 shares of the company’s stock worth $1,853,000 after acquiring an additional 28,548 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. National Bankshares set a $12.30 target price on Planet Labs PBC in a research report on Tuesday, December 16th. JMP Securities restated a “market perform” rating on shares of Planet Labs PBC in a report on Tuesday, October 21st. Citizens Jmp cut shares of Planet Labs PBC from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 21st. Zacks Research downgraded shares of Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.74.

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.