Planet Labs PBC $PL Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC lifted its holdings in Planet Labs PBC (NYSE:PL) by 115.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 111,347 shares of the company’s stock after purchasing an additional 59,610 shares during the period. Legato Capital Management LLC’s holdings in Planet Labs PBC were worth $2,196,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PL. MCF Advisors LLC acquired a new position in shares of Planet Labs PBC in the third quarter valued at approximately $32,000. Baillie Gifford & Co. purchased a new position in Planet Labs PBC in the fourth quarter worth approximately $32,000. Larson Financial Group LLC purchased a new position in Planet Labs PBC in the third quarter worth approximately $39,000. GAMMA Investing LLC lifted its stake in Planet Labs PBC by 146.4% in the fourth quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock worth $40,000 after acquiring an additional 1,195 shares during the last quarter. 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 worth $43,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PL shares. Morgan Stanley lifted their price target on shares of Planet Labs PBC from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 25th. Citigroup lifted their price target on shares of Planet Labs PBC from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Wedbush lifted their price target on shares of Planet Labs PBC from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft set a $38.00 price target on shares of Planet Labs PBC and gave the stock a “buy” rating in a research note on Friday, March 27th. Finally, Cantor Fitzgerald lifted their price target on shares of Planet Labs PBC from $20.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.61.

Planet Labs PBC Stock Up 4.5%

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

Insider Activity at Planet Labs PBC

In other news, insider Robert H. Schingler sold 73,683 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the completion of the sale, the insider owned 256,488 shares in the company, valued at approximately $8,995,034.16. The trade was a 22.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ashley F. Johnson sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was 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. This represents a 9.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.53% of the stock is currently owned by insiders.

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.