693,251 Planet Labs PBC $PL Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp grew its stake in shares of Planet Labs PBC (NYSE:PL) by 203.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,034,230 shares of the company’s stock after buying an additional 693,251 shares during the period. King Luther Capital Management Corp owned 0.28% of Planet Labs PBC worth $16,951,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Jacobi Capital Management LLC bought a new stake in Planet Labs PBC during the 3rd quarter worth approximately $26,000. Texas Bank & Trust Co bought a new position in shares of Planet Labs PBC in the third quarter worth approximately $221,000. Fulcrum Asset Management LLP bought a new position in shares of Planet Labs PBC in the third quarter worth approximately $154,000. Ethic Inc. boosted its position in shares of Planet Labs PBC by 69.6% in the third quarter. Ethic Inc. now owns 17,795 shares of the company’s stock worth $292,000 after purchasing an additional 7,304 shares during the period. Finally, 180 Wealth Advisors LLC increased its stake in shares of Planet Labs PBC by 2.2% in the third quarter. 180 Wealth Advisors LLC now owns 143,303 shares of the company’s stock worth $2,349,000 after purchasing an additional 3,123 shares in the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Planet Labs PBC Stock Down 2.8%

NYSE PL opened at $13.93 on Friday. Planet Labs PBC has a 12 month low of $10.52 and a 12 month high of $51.76. The company has a current ratio of 2.84, a quick ratio of 2.82 and a debt-to-equity ratio of 0.79. The stock has a market cap of $5.07 billion, a PE ratio of -12.67 and a beta of 2.27. The stock’s 50 day moving average is $15.48 and its 200 day moving average is $26.00.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $116.05 million during the quarter, compared to analyst estimates of $104.53 million. Planet Labs PBC had a negative net margin of 95.13% and a negative return on equity of 93.11%. The company’s revenue was up 58.2% on a year-over-year basis. During the same period last year, the firm posted ($0.07) EPS. Research analysts predict that Planet Labs PBC will post -0.60 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on PL. Morgan Stanley decreased their price objective on shares of Planet Labs PBC from $35.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Friday, October 16th. Barclays initiated coverage on shares of Planet Labs PBC in a research note on Friday, October 9th. They set an “equal weight” rating and a $17.00 target price on the stock. Citigroup downgraded shares of Planet Labs PBC from a “market perform” rating to a “hold” rating in a report on Friday, September 4th. Northland Securities set a $40.00 price target on Planet Labs PBC in a research note on Friday, September 4th. Finally, Citizens Jmp reissued a “market perform” rating on shares of Planet Labs PBC in a report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.33.

Insider Buying and Selling

In other Planet Labs PBC news, insider Robert Schingler sold 52,240 shares of Planet Labs PBC stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $16.96, for a total value of $885,990.40. Following the sale, the insider directly owned 170,171 shares in the company, valued at approximately $2,886,100.16. The trade was a 23.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ashley Johnson sold 55,663 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $16.96, for a total transaction of $944,044.48. Following the completion of the sale, the chief financial officer owned 577,915 shares in the company, valued at approximately $9,801,438.40. The trade was a 8.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 165,897 shares of company stock worth $2,681,988 in the last 90 days. 16.42% of the stock is owned by company insiders.

Planet Labs PBC Company Profile

Planet Labs PBC operates a fleet of Earth-observation satellites and provides satellite imagery, geospatial data and analysis tools. Its services help customers monitor changes on the planet and apply that information to planning and decision-making. The company’s products include frequently updated global imagery from its PlanetScope satellites and higher-resolution imagery from its SkySat fleet. Customers can access imagery and data through Planet’s online platform and related services, including tools for searching, analyzing and monitoring locations over time.