Key Points
- CFO Ashley Johnson sold 75,035 Planet Labs shares at an average price of $22.08, generating approximately $1.66 million. The sale reduced her holdings by 6.22%, leaving her with 1.13 million shares.
- Planet Labs’ latest quarterly results exceeded expectations, with an adjusted loss of $0.03 per share versus the $0.04 consensus estimate and revenue of $94.15 million, up 42.1% year over year. The company remains unprofitable, with a negative net margin of 111.17%.
- Analyst sentiment is mixed: six analysts rate the stock Buy, four Hold and two Sell, producing an overall Hold rating and a consensus price target of $35.36. Institutional investors own 41.71% of the company.
Planet Labs PBC (NYSE:PL - Get Free Report) CFO Ashley Johnson sold 75,035 shares of the stock in a transaction dated 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 sale, the chief financial officer owned 1,132,122 shares of the company's stock, valued at $24,997,253.76. This trade represents a 6.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Planet Labs PBC Trading Down 2.8%
Shares of PL stock opened at $20.42 on Wednesday. The company has a market capitalization of $7.28 billion, a P/E ratio of -17.91 and a beta of 2.06. Planet Labs PBC has a 12-month low of $5.87 and a 12-month high of $51.76. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $32.03 and a 200 day moving average price of $30.68.
Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $94.15 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 42.1% compared to the same quarter last year. Research analysts forecast that Planet Labs PBC will post -0.92 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
PL has been the subject of a number of recent analyst reports. Northland Securities set a $50.00 price target on Planet Labs PBC in a report on Friday, June 5th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $36.00 price objective on shares of Planet Labs PBC in a research note on Monday, June 15th. Weiss Ratings upgraded Planet Labs PBC from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, June 15th. New Street Research began coverage on Planet Labs PBC in a research note on Wednesday, May 13th. They issued a "sell" rating and a $28.00 target price for the company. Finally, Craig Hallum lifted 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. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Planet Labs PBC presently has an average rating of "Hold" and a consensus price target of $35.36.
Get Our Latest Stock Analysis on PL
Institutional Investors Weigh In On Planet Labs PBC
Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Planet Labs PBC by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 19,358,515 shares of the company's stock worth $381,750,000 after buying an additional 806,818 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Planet Labs PBC by 0.3% in the second quarter. Canada Pension Plan Investment Board now owns 7,820,400 shares of the company's stock valued at $47,704,000 after acquiring an additional 20,400 shares during the last quarter. Van ECK Associates Corp boosted its stake in Planet Labs PBC by 320.3% in the fourth quarter. Van ECK Associates Corp now owns 7,678,938 shares of the company's stock valued at $151,429,000 after acquiring an additional 5,851,758 shares during the last quarter. Geode Capital Management LLC grew its holdings in Planet Labs PBC by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 5,702,642 shares of the company's stock worth $112,475,000 after acquiring an additional 71,381 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Planet Labs PBC by 7.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,137,871 shares of the company's stock worth $81,599,000 after acquiring an additional 301,757 shares during the period. Institutional investors and hedge funds own 41.71% of the company's stock.
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.
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