ArrowMark Colorado Holdings LLC Sells 340,000 Shares of Planet Labs PBC $PL

ArrowMark Colorado Holdings LLC lowered its position in shares of Planet Labs PBC (NYSE:PL) by 31.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 724,958 shares of the company’s stock after selling 340,000 shares during the quarter. ArrowMark Colorado Holdings LLC owned 0.24% of Planet Labs PBC worth $9,410,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PL. New York State Common Retirement Fund boosted its stake in shares of Planet Labs PBC by 45.3% during the 3rd quarter. New York State Common Retirement Fund now owns 202,384 shares of the company’s stock worth $2,627,000 after acquiring an additional 63,088 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Planet Labs PBC during the second quarter worth about $1,947,000. Oppenheimer & Co. Inc. increased its holdings in shares of Planet Labs PBC by 74.1% during the third quarter. Oppenheimer & Co. Inc. now owns 2,002,184 shares of the company’s stock worth $25,988,000 after purchasing an additional 851,937 shares during the period. Ranger Investment Management L.P. bought a new stake in shares of Planet Labs PBC in the third quarter valued at approximately $2,688,000. Finally, Rice Hall James & Associates LLC bought a new stake in shares of Planet Labs PBC during the 3rd quarter valued at $4,392,000. Institutional investors own 41.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PL shares. National Bank Financial set a $12.30 price objective on shares of Planet Labs PBC in a research note on Tuesday, December 16th. Needham & Company LLC upped their price target on shares of Planet Labs PBC from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Zacks Research upgraded Planet Labs PBC from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Northland Securities set a $28.00 price objective on Planet Labs PBC in a report on Tuesday, January 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Planet Labs PBC in a research report on Thursday, December 11th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.88.

Planet Labs PBC Trading Down 0.7%

NYSE PL opened at $24.79 on Monday. The firm has a market capitalization of $7.78 billion, a P/E ratio of -59.02 and a beta of 1.95. The business has a fifty day simple moving average of $24.64 and a 200 day simple moving average of $17.27. Planet Labs PBC has a 12 month low of $2.79 and a 12 month high of $30.90. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 1.28.

Insiders Place Their Bets

In other news, Director Kristen Robinson sold 47,835 shares of Planet Labs PBC stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $26.96, for a total transaction of $1,289,631.60. Following the sale, the director directly owned 222,897 shares in the company, valued at $6,009,303.12. The trade was a 17.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert H. Schingler sold 73,782 shares of Planet Labs PBC stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $19.35, for a total transaction of $1,427,681.70. Following the completion of the sale, the insider directly owned 1,164,729 shares in the company, valued at $22,537,506.15. This trade represents a 5.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 292,348 shares of company stock valued at $7,323,958. Insiders own 17.53% of the company’s stock.

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.