44,000 Shares in Planet Labs PBC $PL Acquired by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC acquired a new stake in shares of Planet Labs PBC (NYSE:PL) during the third quarter, Holdings Channel.com reports. The fund acquired 44,000 shares of the company’s stock, valued at approximately $571,000.

A number of other institutional investors also recently modified their holdings of the stock. SBI Securities Co. Ltd. grew its holdings in shares of Planet Labs PBC by 45.1% during the 2nd 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 in the last quarter. Tableaux LLC purchased a new stake in shares of Planet Labs PBC during the second quarter worth $61,000. May Hill Capital LLC acquired a new stake in Planet Labs PBC during the second quarter valued at $62,000. Iron Gate Global Advisors LLC purchased a new position in Planet Labs PBC in the first quarter valued at about $36,000. Finally, HighTower Advisors LLC purchased a new position in Planet Labs PBC in the first quarter valued at about $37,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Insiders Place Their Bets

In other Planet Labs PBC news, insider Robert H. Schingler sold 81,656 shares of the business’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $15.50, for a total transaction of $1,265,668.00. Following the completion of the transaction, the insider owned 1,288,843 shares of the company’s stock, valued at $19,977,066.50. The trade was a 5.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Northland Securities set a $17.00 price target on Planet Labs PBC in a research note on Thursday, December 11th. Citizens Jmp downgraded Planet Labs PBC from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Planet Labs PBC in a research report on Thursday, December 11th. Citigroup started coverage on shares of Planet Labs PBC in a research report on Thursday, December 11th. They issued a “buy” rating and a $19.00 target price for the company. Finally, National Bankshares set a $12.30 price target on shares of Planet Labs PBC in a research note on Tuesday. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Planet Labs PBC presently has an average rating of “Moderate Buy” and an average price target of $14.74.

Planet Labs PBC Stock Up 9.7%

Shares of Planet Labs PBC stock opened at $19.19 on Friday. Planet Labs PBC has a 12-month low of $2.79 and a 12-month high of $19.83. 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 stock has a 50 day moving average price of $13.36 and a two-hundred day moving average price of $9.75. The stock has a market capitalization of $5.91 billion, a P/E ratio of -45.69 and a beta of 2.00.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings data on Wednesday, December 10th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.17). The firm had revenue of $81.25 million during the quarter, compared to analyst estimates of $72.02 million. Planet Labs PBC had a negative return on equity of 31.01% and a negative net margin of 45.87%.The business’s revenue for the quarter was up 32.6% compared to the same quarter last year. Equities analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current year.

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.