Conestoga Capital Advisors LLC Sells 181,130 Shares of Planet Labs PBC $PL

Conestoga Capital Advisors LLC trimmed its holdings in Planet Labs PBC (NYSE:PL) by 42.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,235 shares of the company’s stock after selling 181,130 shares during the quarter. Conestoga Capital Advisors LLC owned about 0.08% of Planet Labs PBC worth $3,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PL. 180 Wealth Advisors LLC increased its holdings in Planet Labs PBC by 0.8% in the third quarter. 180 Wealth Advisors LLC now owns 147,032 shares of the company’s stock worth $1,908,000 after purchasing an additional 1,114 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Planet Labs PBC by 5.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 31,973 shares of the company’s stock worth $195,000 after buying an additional 1,782 shares during the period. Choreo LLC grew its position in shares of Planet Labs PBC by 19.7% during the 2nd quarter. Choreo LLC now owns 13,072 shares of the company’s stock worth $80,000 after buying an additional 2,148 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Planet Labs PBC by 45.1% in the 2nd quarter. SBI Securities Co. Ltd. now owns 9,877 shares of the company’s stock valued at $60,000 after acquiring an additional 3,068 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Planet Labs PBC by 3.0% during the 2nd quarter. New York State Common Retirement Fund now owns 139,296 shares of the company’s stock valued at $850,000 after acquiring an additional 3,993 shares during the period. Institutional investors own 41.71% of the company’s stock.

Insider Transactions at Planet Labs PBC

In other news, insider Robert H. Schingler sold 73,782 shares of the company’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $19.35, for a total value of $1,427,681.70. Following the completion of the sale, the insider owned 1,164,729 shares in the company, valued at $22,537,506.15. This represents a 5.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.53% of the stock is owned by corporate insiders.

Planet Labs PBC Price Performance

PL stock opened at $22.73 on Monday. 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 business has a 50-day simple moving average of $15.55 and a two-hundred day simple moving average of $11.45. The company has a market capitalization of $7.13 billion, a P/E ratio of -54.11 and a beta of 1.94. Planet Labs PBC has a 52-week low of $2.79 and a 52-week high of $23.78.

Planet Labs PBC (NYSE:PL) last announced its earnings results on Wednesday, December 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.17). Planet Labs PBC had a negative net margin of 45.87% and a negative return on equity of 31.01%. The company had revenue of $81.25 million for the quarter, compared to analysts’ expectations of $72.02 million. The firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. Research analysts expect that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PL has been the subject of a number of research reports. Citigroup started coverage on shares of Planet Labs PBC in a report on Thursday, December 11th. They issued a “buy” rating and a $19.00 price target for the company. JMP Securities reaffirmed a “market perform” rating on shares of Planet Labs PBC in a research report on Tuesday, October 21st. Needham & Company LLC upped their price target on Planet Labs PBC from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Morgan Stanley raised their price objective on Planet Labs PBC from $4.50 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, December 12th. Finally, Wedbush boosted 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. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.74.

About Planet Labs PBC

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.