Aster Capital Management DIFC Ltd Buys 35,603 Shares of Planet Labs PBC $PL

Aster Capital Management DIFC Ltd raised its stake in shares of Planet Labs PBC (NYSE:PL) by 2,144.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,263 shares of the company’s stock after acquiring an additional 35,603 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Planet Labs PBC were worth $484,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. MCF Advisors LLC purchased a new stake in shares of Planet Labs PBC in the third quarter valued at about $32,000. Jones Financial Companies Lllp grew its position in Planet Labs PBC by 59.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,591 shares of the company’s stock worth $44,000 after purchasing an additional 1,337 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in Planet Labs PBC in the 3rd quarter valued at about $113,000. CWM LLC lifted its position in shares of Planet Labs PBC by 129.9% during the 3rd quarter. CWM LLC now owns 9,276 shares of the company’s stock worth $120,000 after buying an additional 5,241 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Planet Labs PBC by 45.1% in the 2nd quarter. SBI Securities Co. Ltd. now owns 9,877 shares of the company’s stock worth $60,000 after buying an additional 3,068 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PL has been the subject of a number of research analyst reports. National Bank Financial set a $12.30 price target on Planet Labs PBC in a research report on Tuesday, December 16th. Needham & Company LLC upped their price objective on Planet Labs PBC from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Planet Labs PBC in a research report on Thursday, January 22nd. Craig Hallum reissued a “buy” rating and issued a $30.00 price target on shares of Planet Labs PBC in a report on Tuesday, January 13th. Finally, Citigroup increased 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 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, the company presently has a consensus rating of “Hold” and a consensus target price of $21.88.

Planet Labs PBC Stock Performance

Shares of PL opened at $24.13 on Friday. Planet Labs PBC has a 1 year low of $2.79 and a 1 year high of $30.90. 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 stock’s fifty day moving average price is $23.58 and its two-hundred day moving average price is $15.83. The firm has a market cap of $7.57 billion, a PE ratio of -57.45 and a beta of 1.94.

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

Insider Buying and Selling at Planet Labs PBC

In other Planet Labs PBC news, Director Vijaya Gadde sold 20,000 shares of the business’s 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 sale, the director owned 250,169 shares of the company’s stock, valued at $6,697,024.13. The trade was a 7.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ashley F. Johnson sold 150,731 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $27.01, for a total value of $4,071,244.31. Following the sale, the chief financial officer owned 1,956,101 shares in the company, valued at approximately $52,834,288.01. This represents a 7.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 292,348 shares of company stock worth $7,323,958. 17.53% of the stock is currently owned by company insiders.

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.