Tema ETFs LLC Has $52.71 Million Stake in Planet Labs PBC $PL

Tema ETFs LLC lifted its stake in Planet Labs PBC (NYSE:PL) by 75,804.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,590,960 shares of the company’s stock after purchasing an additional 1,588,864 shares during the quarter. Planet Labs PBC comprises 1.7% of Tema ETFs LLC’s portfolio, making the stock its 9th biggest holding. Tema ETFs LLC owned about 0.45% of Planet Labs PBC worth $52,709,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Handelsbanken Fonder AB lifted its position in Planet Labs PBC by 10.5% in the second quarter. Handelsbanken Fonder AB now owns 88,300 shares of the company’s stock worth $2,925,000 after buying an additional 8,400 shares during the last quarter. Focus Financial Network Inc. purchased a new stake in shares of Planet Labs PBC in the second quarter valued at $219,000. Valeo Financial Advisors LLC raised its stake in shares of Planet Labs PBC by 5.8% in the second quarter. Valeo Financial Advisors LLC now owns 19,017 shares of the company’s stock valued at $630,000 after acquiring an additional 1,038 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Planet Labs PBC in the 2nd quarter worth about $88,000. Finally, Mirador Capital Partners LP boosted its stake in shares of Planet Labs PBC by 55.5% during the 2nd quarter. Mirador Capital Partners LP now owns 12,157 shares of the company’s stock worth $403,000 after purchasing an additional 4,339 shares during the period. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Price Performance

Planet Labs PBC stock opened at $23.80 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.81 and a quick ratio of 2.78. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of -20.87 and a beta of 2.11. The firm has a 50-day moving average of $27.04 and a two-hundred day moving average of $30.39. Planet Labs PBC has a 1 year low of $6.10 and a 1 year high of $51.76.

Planet Labs PBC (NYSE:PL) last issued its earnings results on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The business had revenue of $94.15 million for the quarter, compared to analyst estimates of $90.39 million. Planet Labs PBC’s revenue for the quarter was up 42.1% on a year-over-year basis. On average, research analysts forecast that Planet Labs PBC will post -0.92 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on PL. Northland Securities set a $50.00 price objective on shares of Planet Labs PBC in a research report on Friday, June 5th. New Street Research started coverage on Planet Labs PBC in a research note on Wednesday, May 13th. They set a “sell” rating and a $28.00 target price on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $36.00 price target on shares of Planet Labs PBC in a report on Monday, June 15th. Needham & Company LLC boosted their price objective on Planet Labs PBC from $40.00 to $53.00 and gave the company a “buy” rating in a report on Friday, June 5th. Finally, Craig Hallum upped their price objective on Planet Labs PBC from $36.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.36.

Insider Buying and Selling at Planet Labs PBC

In other news, insider Robert H. Schingler sold 25,000 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $25.92, for a total transaction of $648,000.00. Following the transaction, the insider owned 225,171 shares of the company’s stock, valued at approximately $5,836,432.32. This represents a 9.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Raymond sold 6,494 shares of the firm’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $26.16, for a total value of $169,883.04. Following the transaction, the director owned 37,114 shares in the company, valued at approximately $970,902.24. This represents a 14.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 171,122 shares of company stock valued at $4,148,906 in the last ninety days. Corporate insiders own 16.42% of the company’s stock.

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.