Kristen Robinson Sells 47,835 Shares of Planet Labs PBC (NYSE:PL) Stock

Planet Labs PBC (NYSE:PL) Director Kristen Robinson sold 47,835 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $26.96, for a total transaction of $1,289,631.60. Following the transaction, the director directly owned 222,897 shares of the company’s stock, valued at $6,009,303.12. This represents a 17.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Planet Labs PBC Stock Up 3.7%

PL stock 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 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 has a market cap of $8.47 billion, a PE ratio of -64.33 and a beta of 1.94. The business’s 50-day simple moving average is $18.45 and its 200 day simple moving average is $12.86.

Institutional Investors Weigh In On Planet Labs PBC

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Planet Labs PBC by 9.7% in the third quarter. Vanguard Group Inc. now owns 18,551,697 shares of the company’s stock valued at $240,801,000 after buying an additional 1,637,880 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Planet Labs PBC by 0.3% in the second quarter. Canada Pension Plan Investment Board now owns 7,820,400 shares of the company’s stock valued at $47,704,000 after acquiring an additional 20,400 shares during the last quarter. Barclays PLC boosted its holdings in shares of Planet Labs PBC by 758.1% in the 3rd quarter. Barclays PLC now owns 3,727,743 shares of the company’s stock worth $48,386,000 after acquiring an additional 3,293,333 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Planet Labs PBC by 51.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,705,913 shares of the company’s stock worth $48,103,000 after acquiring an additional 1,252,782 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Planet Labs PBC by 265.6% during the 3rd quarter. Invesco Ltd. now owns 3,450,479 shares of the company’s stock valued at $44,787,000 after purchasing an additional 2,506,595 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PL. Wedbush lifted their price target on shares of Planet Labs PBC from $20.00 to $28.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 13th. Citizens Jmp lowered shares of Planet Labs PBC from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 21st. Needham & Company LLC upped their target price on shares of Planet Labs PBC from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Northland Securities set a $28.00 price target on shares of Planet Labs PBC in a research report on Tuesday, January 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Planet Labs PBC from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Planet Labs PBC presently has a consensus rating of “Hold” and an average target price of $20.64.

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.