Planet Labs PBC (NYSE:PL) CFO Sells $4,071,244.31 in Stock

Planet Labs PBC (NYSE:PL) CFO Ashley Johnson sold 150,731 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 1,956,101 shares of the company’s stock, valued at approximately $52,834,288.01. This trade represents a 7.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Planet Labs PBC Price Performance

Shares of Planet Labs PBC stock traded down $0.34 during trading on Thursday, reaching $26.04. The company’s stock had a trading volume of 14,552,274 shares, compared to its average volume of 11,670,160. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 1.28. Planet Labs PBC has a 12-month low of $2.79 and a 12-month high of $30.90. The company has a market capitalization of $8.17 billion, a P/E ratio of -62.00 and a beta of 1.94. The business has a 50 day moving average price of $18.14 and a 200-day moving average price of $12.68.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Wednesday, December 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.17). Planet Labs PBC had a negative return on equity of 31.01% and a negative net margin of 45.87%.The business had revenue of $81.25 million during the quarter, compared to analysts’ expectations of $72.02 million. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Planet Labs PBC will post -0.37 EPS for the current year.

Institutional Investors Weigh In On Planet Labs PBC

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Planet Labs PBC by 146.4% during the 4th quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock valued at $40,000 after acquiring an additional 1,195 shares during the last quarter. MCF Advisors LLC purchased a new position in shares of Planet Labs PBC in the third quarter valued at $32,000. Larson Financial Group LLC acquired a new stake in shares of Planet Labs PBC during the third quarter valued at about $39,000. Jones Financial Companies Lllp increased its holdings in Planet Labs PBC by 59.3% during 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 during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Planet Labs PBC in the 3rd quarter valued at about $56,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PL has been the topic of a number of research analyst reports. National Bankshares set a $12.30 price objective on shares of Planet Labs PBC in a report on Tuesday, December 16th. Northland Securities set a $28.00 price target on Planet Labs PBC in a research note on Tuesday, January 13th. Morgan Stanley upped their price target on Planet Labs PBC from $20.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of Planet Labs PBC in a research note on Tuesday, October 21st. Finally, Citigroup boosted their target price 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. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.64.

Planet Labs PBC Company Profile

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.