Aquatic Capital Management LLC Buys 528,417 Shares of Planet Labs PBC $PL

Aquatic Capital Management LLC increased its stake in Planet Labs PBC (NYSE:PL) by 392.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 663,072 shares of the company’s stock after acquiring an additional 528,417 shares during the quarter. Aquatic Capital Management LLC owned about 0.22% of Planet Labs PBC worth $8,607,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in shares of Planet Labs PBC by 671.1% in the 1st quarter. AQR Capital Management LLC now owns 92,693 shares of the company’s stock worth $313,000 after purchasing an additional 80,672 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Planet Labs PBC during the first quarter worth $189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Planet Labs PBC by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 130,798 shares of the company’s stock worth $442,000 after buying an additional 8,143 shares during the period. Goldman Sachs Group Inc. raised its stake in Planet Labs PBC by 54.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock worth $6,274,000 after buying an additional 653,173 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Planet Labs PBC in the second quarter valued at $68,000. 41.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on PL shares. Deutsche Bank Aktiengesellschaft upped their price target 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. Northland Securities set a $28.00 price objective on Planet Labs PBC in a research note on Tuesday, January 13th. Craig Hallum restated a “buy” rating and set a $30.00 target price on shares of Planet Labs PBC in a research report on Tuesday, January 13th. Morgan Stanley raised their target price on Planet Labs PBC from $20.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $16.40 target price on shares of Planet Labs PBC in a report on Tuesday, January 20th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Planet Labs PBC presently has a consensus rating of “Hold” and a consensus price target of $21.88.

Insider Activity at Planet Labs PBC

In related news, Director Vijaya Gadde sold 20,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $26.77, for a total value of $535,400.00. Following the completion of the sale, the director directly 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 filing with the SEC, which is available at the SEC website. Also, Director Kristen Robinson sold 47,835 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $26.96, for a total value of $1,289,631.60. Following the transaction, the director directly owned 222,897 shares in the company, valued at approximately $6,009,303.12. This trade represents a 17.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 292,348 shares of company stock worth $7,323,958 over the last quarter. Company insiders own 17.53% of the company’s stock.

Planet Labs PBC Trading Down 0.7%

NYSE:PL opened at $24.79 on Monday. 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. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of -59.02 and a beta of 1.95. The firm has a fifty day simple moving average of $24.64 and a two-hundred day simple moving average of $17.27.

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.