Ashley Johnson Sells 75,035 Shares of Planet Labs PBC (NYSE:PL) Stock

Planet Labs PBC (NYSE:PL) CFO Ashley Johnson sold 75,035 shares of Planet Labs PBC stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total transaction of $1,656,772.80. Following the transaction, the chief financial officer owned 1,132,122 shares in the company, valued at $24,997,253.76. This represents a 6.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Planet Labs PBC Price Performance

NYSE PL opened at $19.51 on Thursday. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 1.01. Planet Labs PBC has a 12 month low of $5.87 and a 12 month high of $51.76. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of -17.12 and a beta of 2.06. The company’s 50 day moving average is $31.57 and its two-hundred day moving average is $30.66.

Planet Labs PBC (NYSE:PL) last released its earnings results on Thursday, June 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The firm had revenue of $94.15 million during the quarter, compared to analysts’ expectations of $90.39 million. The business’s quarterly revenue was up 42.1% compared to the same quarter last year. As a group, research analysts anticipate that Planet Labs PBC will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on PL. New Street Research assumed coverage on Planet Labs PBC in a research note on Wednesday, May 13th. They issued a “sell” rating and a $28.00 target price on the stock. Northland Securities set a $50.00 price target on shares of Planet Labs PBC in a report on Friday, June 5th. Craig Hallum raised their price target on shares of Planet Labs PBC from $36.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Zacks Research raised shares of Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Finally, Needham & Company LLC upped their target price on shares of Planet Labs PBC from $40.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $35.36.

Hedge Funds Weigh In On Planet Labs PBC

Institutional investors have recently bought and sold shares of the business. Pittenger & Anderson Inc. boosted its stake in shares of Planet Labs PBC by 40.9% during the 1st quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock worth $38,000 after acquiring an additional 395 shares in the last quarter. Wellington Shields & Co. LLC boosted its position in Planet Labs PBC by 2.8% during the fourth quarter. Wellington Shields & Co. LLC now owns 15,776 shares of the company’s stock worth $311,000 after acquiring an additional 435 shares during the last quarter. Xponance LLC increased its holdings in shares of Planet Labs PBC by 3.1% in the fourth quarter. Xponance LLC now owns 18,656 shares of the company’s stock valued at $368,000 after purchasing an additional 555 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in shares of Planet Labs PBC by 5.4% during the 4th quarter. Wealthfront Advisers LLC now owns 12,715 shares of the company’s stock worth $251,000 after acquiring an additional 657 shares during the period. Finally, KBC Group NV grew its stake in shares of Planet Labs PBC by 7.1% in the 1st quarter. KBC Group NV now owns 9,985 shares of the company’s stock valued at $279,000 after buying an additional 661 shares during the period. 41.71% of the stock is owned by hedge funds and other institutional investors.

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.