Intech Investment Management LLC Reduces Stock Position in Planet Labs PBC $PL

Intech Investment Management LLC lessened its position in Planet Labs PBC (NYSE:PL) by 12.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 117,096 shares of the company’s stock after selling 16,189 shares during the period. Intech Investment Management LLC’s holdings in Planet Labs PBC were worth $714,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Teacher Retirement System of Texas grew its stake in shares of Planet Labs PBC by 5.9% in the second quarter. Teacher Retirement System of Texas now owns 31,973 shares of the company’s stock worth $195,000 after purchasing an additional 1,782 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in 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 period. Mackenzie Financial Corp grew its position in shares of Planet Labs PBC by 32.1% in the 1st quarter. Mackenzie Financial Corp now owns 13,364 shares of the company’s stock worth $45,000 after buying an additional 3,245 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Planet Labs PBC by 2.3% during the first quarter. Rhumbline Advisers now owns 293,950 shares of the company’s stock valued at $994,000 after buying an additional 6,692 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Planet Labs PBC by 143.1% during the first quarter. Caitong International Asset Management Co. Ltd now owns 13,249 shares of the company’s stock valued at $45,000 after acquiring an additional 7,799 shares in the last quarter. 41.71% of the stock is owned by institutional investors.

Insider Transactions at Planet Labs PBC

In other Planet Labs PBC news, insider Robert H. Schingler sold 81,656 shares of Planet Labs PBC stock in a transaction on Monday, October 13th. The stock was sold at an average price of $15.50, for a total transaction of $1,265,668.00. Following the completion of the transaction, the insider owned 1,288,843 shares in the company, valued at approximately $19,977,066.50. The trade was a 5.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.53% of the company’s stock.

Planet Labs PBC Price Performance

Shares of NYSE PL opened at $11.74 on Thursday. Planet Labs PBC has a 1 year low of $2.79 and a 1 year high of $16.78. The firm has a 50-day moving average of $12.94 and a 200 day moving average of $8.51. The stock has a market cap of $3.62 billion, a P/E ratio of -39.15 and a beta of 1.99.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on PL shares. Citigroup reiterated an “outperform” rating on shares of Planet Labs PBC in a report on Tuesday, September 9th. Wedbush lifted their target price on shares of Planet Labs PBC from $11.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Planet Labs PBC from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Needham & Company LLC raised 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. Finally, Cantor Fitzgerald upped their target price on Planet Labs PBC from $8.50 to $20.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.26.

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.