King Luther Capital Management Corp Boosts Holdings in Planet Labs PBC $PL

King Luther Capital Management Corp lifted its position in shares of Planet Labs PBC (NYSE:PL) by 5.3% in the second quarter, Holdings Channel reports. The institutional investor owned 700,000 shares of the company’s stock after acquiring an additional 35,000 shares during the quarter. King Luther Capital Management Corp’s holdings in Planet Labs PBC were worth $4,270,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new position in Planet Labs PBC in the first quarter worth approximately $102,000. Principal Financial Group Inc. lifted its stake in shares of Planet Labs PBC by 1,316.8% in the 1st quarter. Principal Financial Group Inc. now owns 167,362 shares of the company’s stock valued at $566,000 after purchasing an additional 155,549 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Planet Labs PBC by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 585,899 shares of the company’s stock worth $1,980,000 after purchasing an additional 12,844 shares during the period. New York State Common Retirement Fund increased its position in shares of Planet Labs PBC by 164.4% during the 1st quarter. New York State Common Retirement Fund now owns 135,303 shares of the company’s stock worth $457,000 after purchasing an additional 84,125 shares during the last quarter. Finally, Forum Financial Management LP acquired a new stake in shares of Planet Labs PBC during the 1st quarter worth about $39,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Performance

Shares of PL stock opened at $13.41 on Tuesday. Planet Labs PBC has a fifty-two week low of $2.46 and a fifty-two week high of $16.78. The company has a 50 day moving average price of $12.21 and a 200 day moving average price of $7.85. The stock has a market capitalization of $4.13 billion, a P/E ratio of -44.70 and a beta of 1.99.

Planet Labs PBC (NYSE:PL) last released its earnings results on Monday, September 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). Planet Labs PBC had a negative return on equity of 20.25% and a negative net margin of 34.46%.The business had revenue of $73.39 million for the quarter, compared to analyst estimates of $65.88 million. During the same quarter last year, the company earned ($0.06) earnings per share. Planet Labs PBC’s quarterly revenue was up 20.1% compared to the same quarter last year. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, research analysts forecast that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on PL shares. Cantor Fitzgerald increased their target price on shares of Planet Labs PBC from $8.50 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Needham & Company LLC upped their price objective on shares of Planet Labs PBC from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Citigroup reiterated an “outperform” rating on shares of Planet Labs PBC in a report on Tuesday, September 9th. JMP Securities reissued a “market perform” rating on shares of Planet Labs PBC in a research report on Tuesday, October 21st. Finally, Citizens Jmp lowered Planet Labs PBC from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 21st. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.26.

Insider Activity

In other news, insider Robert H. Schingler sold 81,656 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $15.50, for a total value of $1,265,668.00. Following the sale, the insider directly owned 1,288,843 shares in the company, valued at approximately $19,977,066.50. This trade represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.53% of the company’s stock.

Planet Labs PBC Company Profile

Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company’s platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.