Key Points
- Planet Labs insider Robert Schingler sold 52,240 shares at an average price of $16.96, totaling approximately $886,000 and reducing his direct holdings by 23.49% to 170,171 shares.
- Planet Labs reported quarterly revenue of $116.05 million, up 58.2% year over year, and adjusted earnings of $0.02 per share, beating analyst expectations; however, the company remains unprofitable with a negative net margin of 95.13%.
- Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $32.77, while institutional investors own 41.71% of the company’s stock.
Planet Labs PBC (NYSE:PL - Get Free Report) insider Robert Schingler sold 52,240 shares of Planet Labs PBC stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $16.96, for a total value of $885,990.40. Following the transaction, the insider directly owned 170,171 shares of the company's stock, valued at $2,886,100.16. The trade was a 23.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Planet Labs PBC Trading Up 6.5%
Shares of PL opened at $17.07 on Friday. The business's 50-day moving average price is $21.23 and its 200-day moving average price is $29.62. Planet Labs PBC has a twelve month low of $10.22 and a twelve month high of $51.76. The stock has a market cap of $6.21 billion, a PE ratio of -15.51 and a beta of 2.10. The company has a quick ratio of 2.82, a current ratio of 2.84 and a debt-to-equity ratio of 0.79.
Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $0.04. The company 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%. Planet Labs PBC's revenue was up 58.2% compared to the same quarter last year. During the same period last year, the business earned ($0.07) earnings per share. On average, equities analysts forecast that Planet Labs PBC will post -0.91 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
PL has been the subject of several analyst reports. Citigroup downgraded shares of Planet Labs PBC from a "market perform" rating to a "hold" rating in a report on Friday, September 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Planet Labs PBC in a report on Friday, September 11th. Needham & Company LLC lowered their price objective on Planet Labs PBC from $53.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, September 4th. Wedbush initiated coverage on Planet Labs PBC in a research note on Wednesday, July 1st. They set an "outperform" rating and a $50.00 price objective for the company. Finally, Craig Hallum set a $35.00 price objective on Planet Labs PBC in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Planet Labs PBC presently has a consensus rating of "Hold" and a consensus target price of $32.77.
Get Our Latest Stock Report on PL
Institutional Investors Weigh In On Planet Labs PBC
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tema ETFs LLC lifted its stake in Planet Labs PBC by 75,804.6% during the second quarter. Tema ETFs LLC now owns 1,590,960 shares of the company's stock worth $52,709,000 after purchasing an additional 1,588,864 shares during the last quarter. Tidal Investments LLC increased its position in shares of Planet Labs PBC by 5,339.2% during the 2nd quarter. Tidal Investments LLC now owns 1,591,020 shares of the company's stock valued at $52,710,000 after purchasing an additional 1,561,769 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Planet Labs PBC by 2,046.9% during the 4th quarter. BNP Paribas Financial Markets now owns 966,280 shares of the company's stock valued at $19,055,000 after purchasing an additional 921,272 shares during the last quarter. Norges Bank purchased a new position in shares of Planet Labs PBC during the 4th quarter valued at about $17,494,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Planet Labs PBC by 80.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,932,381 shares of the company's stock worth $54,010,000 after buying an additional 861,306 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.
About Planet Labs PBC
(
Get Free Report)
Planet Labs PBC is an Earth-imaging and geospatial data company that operates a constellation of satellites designed to provide frequent imagery of the planet's landmass. The company collects, processes and delivers satellite imagery and related data products through cloud-based platforms and application programming interfaces.
Its offerings include PlanetScope imagery for broad-area monitoring, SkySat imagery for higher-resolution observation, and specialized products that support change detection, mapping and environmental analysis.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
