Ashley Johnson Sells 150,731 Shares of Planet Labs PBC (NYSE:PL) Stock

Planet Labs PBC (NYSE:PL) CFO Ashley Johnson sold 150,731 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $27.01, for a total transaction of $4,071,244.31. Following the transaction, the chief financial officer owned 1,956,101 shares of the company’s stock, valued at approximately $52,834,288.01. This represents a 7.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Planet Labs PBC Trading Up 3.7%

Shares of NYSE PL opened at $27.02 on Friday. Planet Labs PBC has a twelve month low of $2.79 and a twelve month high of $30.90. The stock has a market cap of $8.47 billion, a price-to-earnings ratio of -64.33 and a beta of 1.94. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 1.28. The company’s fifty day moving average is $18.45 and its 200-day moving average is $12.82.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PL shares. Craig Hallum reissued a “buy” rating and set a $30.00 target price on shares of Planet Labs PBC in a research note on Tuesday, January 13th. National Bankshares set a $12.30 price target on shares of Planet Labs PBC in a report on Tuesday, December 16th. Morgan Stanley raised their price objective on shares of Planet Labs PBC from $20.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Planet Labs PBC from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Citizens Jmp cut Planet Labs PBC from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 21st. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.64.

Institutional Investors Weigh In On Planet Labs PBC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PL. AQR Capital Management LLC grew its stake in Planet Labs PBC by 671.1% in the first quarter. AQR Capital Management LLC now owns 92,693 shares of the company’s stock valued at $313,000 after purchasing an additional 80,672 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Planet Labs PBC in the first quarter valued at $189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Planet Labs PBC by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 130,798 shares of the company’s stock valued at $442,000 after buying an additional 8,143 shares in the last quarter. Goldman Sachs Group Inc. raised its position in 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 acquiring an additional 653,173 shares in the last quarter. Finally, Strs Ohio bought a new stake in Planet Labs PBC during the first quarter worth $323,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

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.