Aigen Investment Management LP Makes New $360,000 Investment in Planet Labs PBC $PL

Aigen Investment Management LP bought a new position in Planet Labs PBC (NYSE:PL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,234 shares of the company’s stock, valued at approximately $360,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its holdings in shares of 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 purchasing an additional 745 shares during the last quarter. Baillie Gifford & Co. acquired a new position in shares of Planet Labs PBC in the 4th quarter valued at $32,000. Larson Financial Group LLC acquired a new position in shares of Planet Labs PBC in the 3rd quarter valued at $39,000. GAMMA Investing LLC boosted its holdings in shares of Planet Labs PBC by 146.4% in the 4th 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 during the last quarter. Finally, North Star Investment Management Corp. boosted its holdings in shares of 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 during the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PL. Wedbush reiterated an “outperform” rating and issued a $50.00 price target on shares of Planet Labs PBC in a report on Friday, June 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $36.00 target price on shares of Planet Labs PBC in a report on Monday. Morgan Stanley lifted their target price on shares of Planet Labs PBC from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, March 25th. Craig Hallum lifted their target price on shares of Planet Labs PBC from $36.00 to $49.00 and gave the company a “buy” rating in a report on Friday, June 5th. Finally, Cantor Fitzgerald lifted their target price on shares of Planet Labs PBC from $20.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Planet Labs PBC presently has a consensus rating of “Hold” and an average target price of $35.11.

Insider Activity at Planet Labs PBC

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

Planet Labs PBC Stock Performance

Shares of PL stock opened at $30.40 on Tuesday. The company’s fifty day moving average price is $38.88 and its two-hundred day moving average price is $28.60. Planet Labs PBC has a 12 month low of $4.90 and a 12 month high of $51.76. The firm has a market capitalization of $10.83 billion, a P/E ratio of -26.67 and a beta of 1.99. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.81 and a quick ratio of 2.78.

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

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.