Vijaya Gadde Sells 20,000 Shares of Planet Labs PBC (NYSE:PL) Stock

Planet Labs PBC (NYSE:PL) Director Vijaya Gadde sold 20,000 shares of the stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $26.77, for a total transaction of $535,400.00. Following the transaction, the director owned 250,169 shares of the company’s stock, valued at approximately $6,697,024.13. This represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Planet Labs PBC Price Performance

Shares of NYSE PL opened at $27.02 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 4.00 and a quick ratio of 4.00. The business has a 50-day moving average of $18.45 and a 200-day moving average of $12.86. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of -64.33 and a beta of 1.94. Planet Labs PBC has a fifty-two week low of $2.79 and a fifty-two week high of $30.90.

Hedge Funds Weigh In On Planet Labs PBC

Several institutional investors and hedge funds have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Planet Labs PBC in the second quarter valued at about $1,947,000. LBP AM SA boosted its holdings 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 purchasing an additional 135,680 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in Planet Labs PBC by 13.1% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 427,365 shares of the company’s stock valued at $2,607,000 after purchasing an additional 49,615 shares during the period. Rice Hall James & Associates LLC acquired a new position in shares of Planet Labs PBC during the 3rd quarter worth approximately $4,392,000. Finally, Eleva Capital SAS acquired a new position in shares of Planet Labs PBC during the 2nd quarter worth approximately $787,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on PL. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Planet Labs PBC in a research report on Thursday, December 11th. Northland Securities set a $28.00 target price on shares of Planet Labs PBC in a report 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. Deutsche Bank Aktiengesellschaft lifted 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, 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 report on Thursday, December 11th. 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. According to MarketBeat, Planet Labs PBC currently has a consensus rating of “Hold” and a consensus price target 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.