Squarepoint Ops LLC Sells 256,318 Shares of Planet Labs PBC $PL

Squarepoint Ops LLC cut its holdings in Planet Labs PBC (NYSE:PL) by 68.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 120,435 shares of the company’s stock after selling 256,318 shares during the quarter. Squarepoint Ops LLC’s holdings in Planet Labs PBC were worth $735,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Planet Labs PBC by 2,119.3% in the second quarter. Tower Research Capital LLC TRC now owns 107,103 shares of the company’s stock valued at $653,000 after buying an additional 102,277 shares during the period. Oxford Asset Management LLP bought a new stake in Planet Labs PBC in the 2nd quarter valued at $70,000. HRT Financial LP bought a new stake in Planet Labs PBC in the 2nd quarter valued at $3,305,000. BNP Paribas Financial Markets boosted its stake in Planet Labs PBC by 45.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 23,150 shares of the company’s stock worth $141,000 after purchasing an additional 7,198 shares during the period. Finally, Brevan Howard Capital Management LP bought a new position in Planet Labs PBC during the 2nd quarter worth about $1,323,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Stock Up 0.6%

Shares of PL opened at $20.72 on Wednesday. The stock has a fifty day moving average of $13.59 and a 200-day moving average of $10.04. Planet Labs PBC has a 52 week low of $2.79 and a 52 week high of $20.99. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of -49.33 and a beta of 2.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 4.00 and a current ratio of 4.00.

Planet Labs PBC (NYSE:PL) 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 the consensus estimate of $72.02 million. Planet Labs PBC had a negative return on equity of 31.01% and a negative net margin of 45.87%.Planet Labs PBC’s revenue for the quarter was up 32.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

PL has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Planet Labs PBC from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Planet Labs PBC in a report on Wednesday, October 8th. Morgan Stanley boosted their price objective on Planet Labs PBC from $4.50 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, December 12th. Wedbush upped their price objective on Planet Labs PBC from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, December 11th. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of Planet Labs PBC in a report on Tuesday, December 16th. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.74.

Insider Transactions at Planet Labs PBC

In other Planet Labs PBC news, insider Robert H. Schingler sold 81,656 shares of Planet Labs PBC stock in a transaction on Monday, October 13th. The shares were sold at an average price of $15.50, for a total value of $1,265,668.00. Following the completion of the sale, the insider directly owned 1,288,843 shares of the company’s stock, valued at approximately $19,977,066.50. The trade was a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.53% of the stock is currently owned by corporate insiders.

Planet Labs PBC Company Profile

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.