Key Points
- Insider sale: Robert Schingler sold 73,782 shares of Planet Labs (NYSE:PL) on Dec. 26 at an average price of $19.35, generating about $1.43 million and trimming his holding by 5.96% to 1,164,729 shares.
- Quarterly results showed a wider-than-expected loss (EPS of -$0.19 vs. -$0.02 expected) despite revenue rising 32.6% to $81.25 million, and the company remains unprofitable with negative ROE and a -45.87% net margin.
- Shares trade near their 52-week high (~$20.99) with a market cap around $6.2 billion, while analysts maintain a consensus "Hold" rating and an average price target of $14.74.
Planet Labs PBC (NYSE:PL - Get Free Report) insider Robert Schingler sold 73,782 shares of the stock in a transaction on Friday, December 26th. The stock was sold at an average price of $19.35, for a total value of $1,427,681.70. Following the transaction, the insider owned 1,164,729 shares in the company, valued at $22,537,506.15. The trade was a 5.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Planet Labs PBC Trading Down 0.5%
Shares of Planet Labs PBC stock opened at $19.77 on Wednesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 4.00 and a current ratio of 4.00. The firm has a 50-day moving average of $14.22 and a 200-day moving average of $10.55. Planet Labs PBC has a 52-week low of $2.79 and a 52-week high of $20.99. The stock has a market cap of $6.20 billion, a PE ratio of -47.08 and a beta of 2.00.
Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings data on Wednesday, December 10th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.17). The business had revenue of $81.25 million during the quarter, compared to analyst estimates of $72.02 million. Planet Labs PBC had a negative return on equity of 31.01% and a negative net margin of 45.87%.The company's revenue for the quarter was up 32.6% on a year-over-year basis. As a group, sell-side analysts forecast that Planet Labs PBC will post -0.37 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. National Bankshares set a $12.30 price target on Planet Labs PBC in a research report on Tuesday, December 16th. The Goldman Sachs Group reissued a "neutral" rating on shares of Planet Labs PBC in a report on Tuesday, December 16th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Planet Labs PBC in a research note on Thursday, December 11th. Wedbush upped their price objective on shares of Planet Labs PBC from $17.00 to $20.00 and gave the stock an "outperform" rating in a research report on Thursday, December 11th. Finally, JMP Securities reissued a "market perform" rating on shares of Planet Labs PBC in a report on Tuesday, October 21st. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $14.74.
Check Out Our Latest Stock Report on PL
Institutional Trading of Planet Labs PBC
Several institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its stake in Planet Labs PBC by 2.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 31,264 shares of the company's stock valued at $406,000 after buying an additional 781 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Planet Labs PBC by 3.6% in the third quarter. Victory Capital Management Inc. now owns 25,855 shares of the company's stock worth $336,000 after acquiring an additional 896 shares during the last quarter. Ariadne Wealth Management LP boosted its stake in shares of Planet Labs PBC by 8.8% in the 3rd quarter. Ariadne Wealth Management LP now owns 11,202 shares of the company's stock valued at $145,000 after purchasing an additional 905 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Planet Labs PBC by 4.5% in the 3rd quarter. Valeo Financial Advisors LLC now owns 21,641 shares of the company's stock valued at $281,000 after purchasing an additional 925 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its holdings in shares of Planet Labs PBC by 0.8% during the 3rd quarter. 180 Wealth Advisors LLC now owns 147,032 shares of the company's stock valued at $1,908,000 after purchasing an additional 1,114 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors.
Planet Labs PBC Company Profile
(
Get Free Report)
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.
Further Reading
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