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

Sei Investments Co. grew its position in Planet Labs PBC (NYSE:PL) by 76.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 212,182 shares of the company’s stock after purchasing an additional 91,654 shares during the period. Sei Investments Co.’s holdings in Planet Labs PBC were worth $5,930,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. American Capital Advisory LLC acquired a new stake in shares of Planet Labs PBC during the 1st quarter worth about $28,000. Pittenger & Anderson Inc. boosted its position in Planet Labs PBC by 40.9% in the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock valued at $38,000 after buying an additional 395 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Planet Labs PBC in the first quarter valued at about $41,000. Parkside Financial Bank & Trust grew its stake 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 worth $31,000 after buying an additional 745 shares during the last quarter. Finally, Baillie Gifford & Co. bought a new stake in Planet Labs PBC during the fourth quarter worth about $32,000. Institutional investors own 41.71% of the company’s stock.

Insider Buying and Selling at Planet Labs PBC

In other news, insider Robert H. Schingler sold 64,593 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $25.92, for a total value of $1,674,250.56. Following the transaction, the insider owned 825,541 shares of the company’s stock, valued at approximately $21,398,022.72. This trade represents a 7.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 owned 1,132,122 shares of the company’s stock, valued at approximately $24,997,253.76. This represents a 6.22% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 171,122 shares of company stock worth $4,148,906. Company insiders own 16.42% of the company’s stock.

Planet Labs PBC Stock Performance

PL stock opened at $22.89 on Wednesday. The company has a 50 day moving average price of $29.68 and a 200 day moving average price of $30.56. 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 stock has a market capitalization of $8.16 billion, a PE ratio of -20.08 and a beta of 2.11.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $94.15 million for the quarter, compared to analyst estimates 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 firm’s revenue was up 42.1% compared to the same quarter last year. Analysts forecast that Planet Labs PBC will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $36.00 price objective on shares of Planet Labs PBC in a research note on Monday, June 15th. New Street Research initiated coverage on Planet Labs PBC in a report on Wednesday, May 13th. They issued a “sell” rating and a $28.00 price target for the company. Needham & Company LLC upped their price target on shares of Planet Labs PBC from $40.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Craig Hallum increased their price objective on shares of Planet Labs PBC from $36.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Finally, Zacks Research raised shares of Planet Labs PBC from a “strong sell” rating to a “hold” rating in a report on Thursday, July 2nd. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.36.

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.