Planet Labs PBC $PL Shares Bought by AXQ Capital LP

AXQ Capital LP increased its stake in Planet Labs PBC (NYSE:PL) by 95.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,986 shares of the company’s stock after acquiring an additional 24,944 shares during the quarter. AXQ Capital LP’s holdings in Planet Labs PBC were worth $662,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PL. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Planet Labs PBC by 245.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,453,131 shares of the company’s stock valued at $14,964,000 after purchasing an additional 1,743,474 shares during the period. Vanguard Group Inc. lifted its stake in Planet Labs PBC by 9.7% during 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. Marshall Wace LLP lifted its stake in Planet Labs PBC by 10,305.7% during the second quarter. Marshall Wace LLP now owns 1,509,248 shares of the company’s stock valued at $9,206,000 after buying an additional 1,494,744 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Planet Labs PBC in the second quarter worth about $7,723,000. Finally, Bank of America Corp DE increased its position in shares of Planet Labs PBC by 477.9% in the second quarter. Bank of America Corp DE now owns 1,349,603 shares of the company’s stock worth $8,233,000 after acquiring an additional 1,116,055 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Planet Labs PBC Trading Up 3.9%

NYSE:PL opened at $24.70 on Wednesday. The company has a market capitalization of $7.75 billion, a P/E ratio of -58.81 and a beta of 1.94. The stock’s 50 day moving average price is $23.15 and its 200 day moving average price is $15.58. The company has a debt-to-equity ratio of 1.28, a quick ratio of 4.00 and a current ratio of 4.00. Planet Labs PBC has a 52 week low of $2.79 and a 52 week high of $30.90.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings results on Wednesday, December 10th. The company reported $0.00 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.02. The company had revenue of $81.25 million for 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%. Planet Labs PBC’s quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.02) EPS. On average, research analysts forecast that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling at Planet Labs PBC

In other Planet Labs PBC news, Director Vijaya Gadde sold 20,000 shares of the stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $26.77, for a total transaction of $535,400.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert H. Schingler sold 73,782 shares of the business’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $19.35, for a total value of $1,427,681.70. Following the completion of the sale, the insider directly owned 1,164,729 shares of the company’s stock, valued at $22,537,506.15. This represents a 5.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 292,348 shares of company stock valued at $7,323,958. Corporate insiders own 17.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PL shares. National Bank Financial set a $12.30 price target on shares of Planet Labs PBC in a research report on Tuesday, December 16th. Zacks Research upgraded Planet Labs PBC from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Citigroup raised their price objective on Planet Labs PBC from $19.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Needham & Company LLC boosted their price objective on shares of Planet Labs PBC from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $16.40 price objective on shares of Planet Labs PBC in a research note on Tuesday, January 20th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.88.

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.