Planet Labs PBC (NYSE:PL) Director Sells $1,289,631.60 in Stock

Planet Labs PBC (NYSE:PL) Director Kristen Robinson sold 47,835 shares of Planet Labs PBC stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $26.96, for a total transaction of $1,289,631.60. Following the sale, the director owned 222,897 shares in the company, valued at approximately $6,009,303.12. This represents a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Planet Labs PBC Price Performance

PL stock opened at $27.02 on Monday. The company has a market capitalization of $8.47 billion, a P/E ratio of -64.33 and a beta of 1.94. The company has a fifty day moving average price of $18.45 and a 200-day moving average price of $12.90. 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 has a 52-week low of $2.79 and a 52-week high of $30.90.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PL. Needham & Company LLC increased their price target on Planet Labs PBC from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Planet Labs PBC in a research report on Thursday. Citizens Jmp downgraded shares of Planet Labs PBC from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 21st. Citigroup upped their price objective on shares of Planet Labs PBC from $19.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Finally, JMP Securities reissued a “market perform” rating on shares of Planet Labs PBC in a research note on Tuesday, October 21st. Eight research 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 a consensus target price of $20.64.

Institutional Trading of Planet Labs PBC

Large investors have recently modified their holdings of the stock. MCF Advisors LLC bought a new stake in shares of Planet Labs PBC in the 3rd quarter valued at $32,000. Baillie Gifford & Co. acquired a new stake in Planet Labs PBC in the fourth quarter worth $32,000. Larson Financial Group LLC acquired a new stake in Planet Labs PBC in the third quarter worth $39,000. GAMMA Investing LLC increased its stake in Planet Labs PBC by 146.4% in the fourth quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock valued at $40,000 after purchasing an additional 1,195 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Planet Labs PBC by 59.3% during the third quarter. Jones Financial Companies Lllp now owns 3,591 shares of the company’s stock valued at $44,000 after purchasing an additional 1,337 shares during the period. Institutional investors and hedge funds own 41.71% of the company’s stock.

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.