Planet Labs PBC $PL Shares Bought by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd grew its position in Planet Labs PBC (NYSE:PL) by 5,433.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,860 shares of the company’s stock after acquiring an additional 60,742 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Planet Labs PBC were worth $1,220,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PL. Parkside Financial Bank & Trust grew its holdings in Planet Labs PBC by 92.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock valued at $31,000 after buying an additional 745 shares during the period. Baillie Gifford & Co. acquired a new position in shares of Planet Labs PBC during the 4th quarter valued at $32,000. Larson Financial Group LLC purchased a new stake in Planet Labs PBC during the 3rd quarter worth $39,000. GAMMA Investing LLC boosted its position in 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 period. Finally, North Star Investment Management Corp. increased its holdings 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 purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Insider Transactions at Planet Labs PBC

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

Planet Labs PBC Price Performance

Shares of Planet Labs PBC stock opened at $28.18 on Friday. The firm’s 50-day moving average price is $38.29 and its two-hundred day moving average price is $28.94. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 1.01. Planet Labs PBC has a 1-year low of $4.90 and a 1-year high of $51.76. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of -24.72 and a beta of 1.99.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Needham & Company LLC lifted their price objective on shares of Planet Labs PBC from $40.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $36.00 price target on shares of Planet Labs PBC in a research note on Monday. The Goldman Sachs Group restated a “neutral” rating and set a $22.00 target price on shares of Planet Labs PBC in a research note on Thursday, June 11th. Cantor Fitzgerald lifted their target price on Planet Labs PBC from $20.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Finally, Weiss Ratings raised Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $35.11.

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.