Lisanti Capital Growth LLC Makes New $2.07 Million Investment in Planet Labs PBC $PL

Lisanti Capital Growth LLC purchased a new position in Planet Labs PBC (NYSE:PL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 105,030 shares of the company’s stock, valued at approximately $2,071,000.

A number of other hedge funds also recently modified their holdings of the business. MCF Advisors LLC bought a new position in shares of Planet Labs PBC during the 3rd quarter valued at about $32,000. Baillie Gifford & Co. bought a new stake in Planet Labs PBC during the 4th quarter worth approximately $32,000. Larson Financial Group LLC bought a new stake in Planet Labs PBC during the 3rd quarter worth approximately $39,000. GAMMA Investing LLC raised its holdings 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 buying an additional 1,195 shares during the period. Finally, North Star Investment Management Corp. lifted its stake in Planet Labs PBC by 1,111.1% in the fourth quarter. North Star Investment Management Corp. now owns 2,180 shares of the company’s stock valued at $43,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC increased their price objective on shares of Planet Labs PBC to $40.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. New Street Research started coverage on shares of Planet Labs PBC in a research report on Wednesday, May 13th. They issued a “sell” rating and a $28.00 price objective on the stock. Weiss Ratings raised shares of Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. Cantor Fitzgerald increased their target price on Planet Labs PBC from $20.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, March 20th. Finally, Deutsche Bank Aktiengesellschaft set a $38.00 price target on Planet Labs PBC and gave the company a “buy” rating in a report on Friday, March 27th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.61.

Insider Buying and Selling 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 dated 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 directly 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 filing with the SEC, which is available through this link. Also, insider Robert H. Schingler sold 73,683 shares of the stock in a transaction dated 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 transaction, the insider owned 256,488 shares of the company’s stock, valued at approximately $8,995,034.16. This represents a 22.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.53% of the stock is currently owned by insiders.

Planet Labs PBC Price Performance

NYSE PL opened at $44.39 on Friday. The firm’s 50 day moving average is $35.37 and its 200-day moving average is $25.30. The company has a quick ratio of 1.64, a current ratio of 1.65 and a debt-to-equity ratio of 2.37. The company has a market capitalization of $15.36 billion, a PE ratio of -56.91 and a beta of 1.91. Planet Labs PBC has a 12-month low of $3.53 and a 12-month high of $45.78.

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.