Entropy Technologies LP Has $3.76 Million Holdings in Planet Labs PBC $PL

Entropy Technologies LP lessened its holdings in Planet Labs PBC (NYSE:PL) by 22.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 134,635 shares of the company’s stock after selling 38,680 shares during the period. Entropy Technologies LP’s holdings in Planet Labs PBC were worth $3,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in shares of Planet Labs PBC by 36.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,021,180 shares of the company’s stock worth $28,542,000 after acquiring an additional 273,300 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Planet Labs PBC by 80.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,932,381 shares of the company’s stock valued at $54,010,000 after acquiring an additional 861,306 shares in the last quarter. Sei Investments Co. increased its stake in Planet Labs PBC by 76.0% in the first quarter. Sei Investments Co. now owns 212,182 shares of the company’s stock valued at $5,930,000 after acquiring an additional 91,654 shares during the period. First Trust Advisors LP raised its position in Planet Labs PBC by 4.5% in the first quarter. First Trust Advisors LP now owns 648,656 shares of the company’s stock worth $18,130,000 after purchasing an additional 28,138 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Planet Labs PBC by 26.5% in the first quarter. PNC Financial Services Group Inc. now owns 39,951 shares of the company’s stock worth $1,117,000 after purchasing an additional 8,373 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Insiders Place Their Bets

In other news, Director John W. Raymond sold 6,494 shares of the stock in a transaction on Monday, July 13th. The stock was sold at an average price of $26.16, for a total value of $169,883.04. Following the completion of the transaction, the director directly owned 37,114 shares in the company, valued at approximately $970,902.24. This represents a 14.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert H. Schingler sold 25,000 shares of the business’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $25.92, for a total value of $648,000.00. Following the sale, the insider owned 225,171 shares in the company, valued at $5,836,432.32. This represents a 9.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 96,087 shares of company stock worth $2,492,134. Insiders own 16.42% of the company’s stock.

Analyst Upgrades and Downgrades

PL has been the topic of several analyst reports. Weiss Ratings raised shares of Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Craig Hallum raised their price target on Planet Labs PBC from $36.00 to $49.00 and gave the company a “buy” rating in a report on Friday, June 5th. New Street Research initiated coverage on shares of Planet Labs PBC in a research report on Wednesday, May 13th. They set a “sell” rating and a $28.00 target price for the company. Needham & Company LLC upped their price objective on shares of Planet Labs PBC from $40.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Finally, Citigroup boosted their price target on Planet Labs PBC from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Six research 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, Planet Labs PBC presently has a consensus rating of “Hold” and an average target price of $35.36.

Planet Labs PBC Price Performance

Shares of NYSE PL opened at $20.46 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.81 and a quick ratio of 2.78. Planet Labs PBC has a fifty-two week low of $5.87 and a fifty-two week high of $51.76. The stock has a market capitalization of $7.29 billion, a PE ratio of -17.95 and a beta of 2.06. The business has a fifty day moving average price of $32.86 and a two-hundred day moving average price of $30.64.

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

Planet Labs PBC 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.