Rice Hall James & Associates LLC Decreases Stock Holdings in Planet Labs PBC $PL

Rice Hall James & Associates LLC lowered its stake in Planet Labs PBC (NYSE:PL) by 33.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 224,987 shares of the company’s stock after selling 113,362 shares during the quarter. Rice Hall James & Associates LLC owned 0.07% of Planet Labs PBC worth $4,437,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PL. Parkside Financial Bank & Trust lifted its holdings in Planet Labs PBC by 92.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock valued at $31,000 after purchasing an additional 745 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in shares of Planet Labs PBC during the fourth quarter worth about $32,000. Larson Financial Group LLC acquired a new position in shares of Planet Labs PBC during the 3rd quarter worth about $39,000. GAMMA Investing LLC raised its position in shares of Planet Labs PBC by 146.4% during the 4th quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock worth $40,000 after purchasing an additional 1,195 shares during the last quarter. Finally, North Star Investment Management Corp. lifted its stake in Planet Labs PBC by 1,111.1% in the 4th quarter. North Star Investment Management Corp. now owns 2,180 shares of the company’s stock valued at $43,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Wall Street Analyst Weigh In

PL has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $36.00 price objective on shares of Planet Labs PBC in a report on Monday. Weiss Ratings downgraded Planet Labs PBC from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $22.00 price target on shares of Planet Labs PBC in a research note on Thursday. Wedbush reiterated an “outperform” rating and set a $50.00 price target on shares of Planet Labs PBC in a research report on Friday, June 5th. Finally, New Street Research began coverage on Planet Labs PBC in a research note on Wednesday, May 13th. They issued a “sell” rating and a $28.00 price objective for the company. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.11.

Planet Labs PBC Trading Down 2.4%

Shares of Planet Labs PBC stock opened at $30.40 on Tuesday. 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 stock’s 50 day simple moving average is $38.88 and its 200-day simple moving average is $28.60. The stock has a market cap of $10.83 billion, a P/E ratio of -26.67 and a beta of 1.99. Planet Labs PBC has a 1-year low of $4.90 and a 1-year high of $51.76.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings results on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $94.15 million during the quarter, compared to analysts’ expectations of $90.39 million. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The business’s quarterly revenue was up 42.1% on a year-over-year basis. Analysts predict that Planet Labs PBC will post -0.81 EPS for the current fiscal year.

Insider Buying and Selling at Planet Labs PBC

In other news, CFO Ashley F. Johnson sold 200,000 shares of Planet Labs PBC stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the transaction, the chief financial officer owned 1,895,162 shares in the company, valued at $66,520,186.20. The trade was a 9.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert H. Schingler sold 73,683 shares of the business’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the transaction, the insider directly owned 256,488 shares in the company, valued at approximately $8,995,034.16. The trade was a 22.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.42% of the stock is owned by insiders.

Planet Labs PBC 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.