Planet Labs PBC $PL Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lowered its stake in shares of Planet Labs PBC (NYSE:PL) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,495 shares of the company’s stock after selling 1,648 shares during the quarter. Vontobel Holding Ltd.’s holdings in Planet Labs PBC were worth $265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Planet Labs PBC by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 16,213,565 shares of the company’s stock worth $54,802,000 after acquiring an additional 261,171 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Planet Labs PBC by 54.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock worth $6,274,000 after purchasing an additional 653,173 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Planet Labs PBC by 41.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,323,263 shares of the company’s stock worth $4,473,000 after purchasing an additional 389,375 shares during the last quarter. Liontrust Investment Partners LLP raised its stake in shares of Planet Labs PBC by 175.0% during the first quarter. Liontrust Investment Partners LLP now owns 1,066,133 shares of the company’s stock worth $3,604,000 after purchasing an additional 678,486 shares during the last quarter. Finally, LBP AM SA increased its stake in Planet Labs PBC by 17.0% in the 2nd quarter. LBP AM SA now owns 934,158 shares of the company’s stock valued at $5,698,000 after buying an additional 135,680 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Price Performance

PL stock opened at $15.02 on Thursday. The company’s 50 day simple moving average is $9.94 and its 200-day simple moving average is $6.54. The firm has a market capitalization of $4.62 billion, a PE ratio of -50.06 and a beta of 1.99. Planet Labs PBC has a 12 month low of $2.18 and a 12 month high of $16.78.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Monday, September 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.25%. The company had revenue of $73.39 million during the quarter, compared to analysts’ expectations of $65.88 million. During the same period in the previous year, the company posted ($0.06) EPS. Planet Labs PBC’s quarterly revenue was up 20.1% compared to the same quarter last year. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, sell-side analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JMP Securities boosted their price objective on shares of Planet Labs PBC from $8.00 to $11.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 9th. Needham & Company LLC raised their price objective on shares of Planet Labs PBC from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a research report on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $8.50 target price (up from $6.30) on shares of Planet Labs PBC in a research note on Tuesday, June 24th. Finally, Citigroup reissued an “outperform” rating on shares of Planet Labs PBC in a research note on Tuesday, September 9th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.56.

Insider Activity

In related news, insider Robert H. Schingler sold 81,656 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $15.50, for a total transaction of $1,265,668.00. Following the transaction, the insider owned 1,288,843 shares of the company’s stock, valued at approximately $19,977,066.50. This represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 17.53% of the company’s stock.

About Planet Labs PBC

Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company’s platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.