Penserra Capital Management LLC Boosts Stock Holdings in Planet Labs PBC $PL

Penserra Capital Management LLC boosted its holdings in Planet Labs PBC (NYSE:PL) by 12.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 527,615 shares of the company’s stock after purchasing an additional 56,647 shares during the period. Penserra Capital Management LLC owned about 0.17% of Planet Labs PBC worth $6,848,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PL. Jones Financial Companies Lllp lifted its stake in Planet Labs PBC by 59.3% in the third quarter. Jones Financial Companies Lllp now owns 3,591 shares of the company’s stock valued at $44,000 after purchasing an additional 1,337 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Planet Labs PBC by 45.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 9,877 shares of the company’s stock valued at $60,000 after buying an additional 3,068 shares during the last quarter. Tableaux LLC bought a new position in shares of Planet Labs PBC during the 2nd quarter worth $61,000. May Hill Capital LLC purchased a new stake in Planet Labs PBC in the 2nd quarter worth about $62,000. Finally, Los Angeles Capital Management LLC bought a new stake in Planet Labs PBC in the 2nd quarter valued at about $68,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Insider Transactions at Planet Labs PBC

In other news, Director Vijaya Gadde sold 20,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $26.77, for a total value of $535,400.00. Following the sale, the director directly owned 250,169 shares of the company’s stock, valued at $6,697,024.13. This represents a 7.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kristen Robinson sold 47,835 shares of Planet Labs PBC 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 approximately $6,009,303.12. This trade represents a 17.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 292,368 shares of company stock worth $7,324,211 in the last ninety days. 17.53% of the stock is owned by company insiders.

Planet Labs PBC Price Performance

PL stock opened at $20.44 on Friday. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 1.28. The firm’s 50-day moving average price is $20.82 and its two-hundred day moving average price is $13.95. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of -48.65 and a beta of 1.94. Planet Labs PBC has a 12-month low of $2.79 and a 12-month high of $30.90.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings data on Wednesday, December 10th. The company reported $0.00 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.02. The business had revenue of $81.25 million during the quarter, compared to analyst estimates of $72.02 million. Planet Labs PBC had a negative net margin of 45.87% and a negative return on equity of 31.01%. The company’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.02) EPS. As a group, equities analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wedbush lifted their target price on Planet Labs PBC from $20.00 to $28.00 and gave the company an “outperform” 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 note 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. Morgan Stanley raised their price target on shares of Planet Labs PBC from $20.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Finally, Citigroup boosted their price target on shares of Planet Labs PBC from $19.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Planet Labs PBC currently has a consensus rating of “Hold” and a consensus price target of $21.88.

Planet Labs PBC 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.