1,045,000 Shares in Planet Labs PBC $PL Purchased by Divisadero Street Capital Management LP

Divisadero Street Capital Management LP bought a new stake in shares of Planet Labs PBC (NYSE:PL) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 1,045,000 shares of the company’s stock, valued at approximately $13,564,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PL. AQR Capital Management LLC increased its position in Planet Labs PBC by 671.1% in the 1st quarter. AQR Capital Management LLC now owns 92,693 shares of the company’s stock worth $313,000 after buying an additional 80,672 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Planet Labs PBC in the first quarter valued at approximately $189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Planet Labs PBC by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 130,798 shares of the company’s stock worth $442,000 after acquiring an additional 8,143 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Planet Labs PBC by 54.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock worth $6,274,000 after acquiring an additional 653,173 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Planet Labs PBC during the second quarter worth $68,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Insider Buying and Selling

In other news, CFO Ashley F. Johnson sold 150,731 shares of the firm’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $27.01, for a total value of $4,071,244.31. Following the transaction, the chief financial officer directly owned 1,956,101 shares in the company, valued at $52,834,288.01. This trade represents a 7.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert H. Schingler sold 73,782 shares of the stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $19.35, for a total transaction of $1,427,681.70. Following the completion of the sale, the insider owned 1,164,729 shares in the company, valued at $22,537,506.15. This represents a 5.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 292,348 shares of company stock valued at $7,323,958 over the last 90 days. Company insiders own 17.53% of the company’s stock.

Planet Labs PBC Stock Performance

PL stock opened at $24.79 on Monday. The company has a debt-to-equity ratio of 1.28, a current ratio of 4.00 and a quick ratio of 4.00. Planet Labs PBC has a fifty-two week low of $2.79 and a fifty-two week high of $30.90. The stock has a market capitalization of $7.78 billion, a PE ratio of -59.02 and a beta of 1.95. The company has a 50 day moving average price of $24.64 and a 200 day moving average price of $17.27.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PL. Zacks Research upgraded shares of Planet Labs PBC from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Needham & Company LLC raised their target price on Planet Labs PBC from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $16.40 price target on shares of Planet Labs PBC in a research report on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a research note on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Planet Labs PBC from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Planet Labs PBC presently has a consensus rating of “Hold” and a consensus price target of $21.88.

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.