Penserra Capital Management LLC Buys 56,647 Shares of Planet Labs PBC $PL

Penserra Capital Management LLC boosted its position in shares of Planet Labs PBC (NYSE:PL) by 12.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 527,615 shares of the company’s stock after acquiring an additional 56,647 shares during the period. Penserra Capital Management LLC’s holdings in Planet Labs PBC were worth $6,848,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp raised its position in shares of Planet Labs PBC by 59.3% during the 3rd 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. CWM LLC increased its stake in Planet Labs PBC by 129.9% in the 3rd quarter. CWM LLC now owns 9,276 shares of the company’s stock worth $120,000 after buying an additional 5,241 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Planet Labs PBC by 45.1% during the second quarter. SBI Securities Co. Ltd. now owns 9,877 shares of the company’s stock valued at $60,000 after acquiring an additional 3,068 shares during the period. Heritage Oak Wealth Advisors LLC purchased a new position in shares of Planet Labs PBC in the third quarter valued at about $130,000. Finally, Atlatl Advisers LLC purchased a new position in shares of Planet Labs PBC in the third quarter valued at about $130,000. 41.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Vijaya Gadde sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $26.77, for a total value of $535,400.00. Following the completion of the sale, the director directly owned 250,169 shares in the company, valued at $6,697,024.13. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert H. Schingler sold 73,782 shares of Planet Labs PBC stock in a transaction on Friday, December 26th. The stock was sold at an average price of $19.35, for a total transaction of $1,427,681.70. Following the transaction, the insider directly owned 1,164,729 shares of the company’s stock, valued at $22,537,506.15. The trade was a 5.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 292,368 shares of company stock valued at $7,324,211 over the last quarter. Company insiders own 17.53% of the company’s stock.

Planet Labs PBC Price Performance

PL stock opened at $20.44 on Friday. The company has a fifty day simple moving average of $20.82 and a two-hundred day simple moving average of $13.95. Planet Labs PBC has a 52 week low of $2.79 and a 52 week high of $30.90. 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 firm has a market capitalization of $6.41 billion, a P/E ratio of -48.65 and a beta of 1.94.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings results on Wednesday, December 10th. The company reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.02. The firm had revenue of $81.25 million during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) EPS. Analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Craig Hallum reissued a “buy” rating and set a $30.00 target price on shares of Planet Labs PBC in a research note on Tuesday, January 13th. The Goldman Sachs Group reiterated a “neutral” rating and set a $16.40 price objective on shares of Planet Labs PBC in a research report on Tuesday, January 20th. Wedbush boosted their target price on shares of Planet Labs PBC from $20.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday, January 13th. National Bankshares set a $12.30 target price on shares of Planet Labs PBC in a research note on Tuesday, December 16th. Finally, 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. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Planet Labs PBC has a consensus rating of “Hold” and an average price target of $21.88.

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.