Planet Labs PBC (NYSE:PL) CFO Sells $4,071,244.31 in Stock

Planet Labs PBC (NYSE:PL) CFO Ashley Johnson sold 150,731 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $27.01, for a total value of $4,071,244.31. Following the sale, the chief financial officer owned 1,956,101 shares in the company, valued at approximately $52,834,288.01. The trade was a 7.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Planet Labs PBC Stock Up 3.7%

Shares of NYSE PL opened at $27.02 on Friday. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 1.28. The company has a market cap of $8.47 billion, a P/E ratio of -64.33 and a beta of 1.94. Planet Labs PBC has a 52 week low of $2.79 and a 52 week high of $30.90. The business has a 50-day simple moving average of $18.45 and a two-hundred day simple moving average of $12.86.

Wall Street Analyst Weigh In

Several research analysts have commented on PL shares. JMP Securities reissued a “market perform” rating on shares of Planet Labs PBC in a report on Tuesday, October 21st. Citizens Jmp downgraded Planet Labs PBC from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 21st. National Bankshares set a $12.30 target price on Planet Labs PBC in a research report on Tuesday, December 16th. Craig Hallum restated a “buy” rating and issued a $30.00 target price on shares of Planet Labs PBC in a research note on Tuesday, January 13th. Finally, Citigroup raised their price target on Planet Labs PBC from $19.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.64.

Hedge Funds Weigh In On Planet Labs PBC

Institutional investors and hedge funds have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Planet Labs PBC in the second quarter worth $1,947,000. LBP AM SA lifted its position in Planet Labs PBC by 17.0% during the second quarter. LBP AM SA now owns 934,158 shares of the company’s stock valued at $5,698,000 after buying an additional 135,680 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in shares of Planet Labs PBC by 13.1% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 427,365 shares of the company’s stock valued at $2,607,000 after buying an additional 49,615 shares in the last quarter. Rice Hall James & Associates LLC purchased a new stake in shares of Planet Labs PBC in the 3rd quarter worth about $4,392,000. Finally, Eleva Capital SAS bought a new position in shares of Planet Labs PBC in the 2nd quarter worth about $787,000. Institutional investors own 41.71% of the company’s stock.

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.