Ranger Investment Management L.P. Sells 78,785 Shares of Planet Labs PBC $PL

Ranger Investment Management L.P. trimmed its position in shares of Planet Labs PBC (NYSE:PL) by 12.3% during the first quarter, Holdings Channel.com reports. The fund owned 561,284 shares of the company’s stock after selling 78,785 shares during the quarter. Ranger Investment Management L.P.’s holdings in Planet Labs PBC were worth $15,688,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. American Capital Advisory LLC purchased a new stake in shares of Planet Labs PBC in the first quarter valued at about $28,000. Pittenger & Anderson Inc. boosted its holdings in Planet Labs PBC by 40.9% during the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock worth $38,000 after purchasing an additional 395 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in Planet Labs PBC during the first quarter worth about $41,000. Parkside Financial Bank & Trust grew its position in Planet Labs PBC by 92.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock worth $31,000 after purchasing an additional 745 shares in the last quarter. Finally, Baillie Gifford & Co. bought a new stake in Planet Labs PBC in the 4th quarter worth about $32,000. Institutional investors own 41.71% of the company’s stock.

Wall Street Analyst Weigh In

PL has been the subject of several analyst reports. Needham & Company LLC increased their price objective on shares of Planet Labs PBC from $40.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Zacks Research upgraded Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 2nd. The Goldman Sachs Group upped their target price on Planet Labs PBC from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Weiss Ratings raised Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $36.00 price target on shares of Planet Labs PBC in a report on Monday, June 15th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.36.

Planet Labs PBC Trading Down 2.8%

Shares of PL stock opened at $20.42 on Wednesday. The company has a 50 day moving average of $32.03 and a 200-day moving average of $30.68. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 1.01. Planet Labs PBC has a 12-month low of $5.87 and a 12-month high of $51.76. The firm has a market cap of $7.28 billion, a P/E ratio of -17.91 and a beta of 2.06.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The business had revenue of $94.15 million for the quarter, compared to the consensus estimate of $90.39 million. The company’s revenue was up 42.1% on a year-over-year basis. Sell-side analysts anticipate that Planet Labs PBC will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In other Planet Labs PBC news, insider Robert H. Schingler sold 25,000 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $25.92, for a total transaction of $648,000.00. Following the sale, the insider directly owned 225,171 shares of the company’s stock, valued at $5,836,432.32. This represents a 9.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ashley F. Johnson sold 75,035 shares of Planet Labs PBC stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total transaction of $1,656,772.80. Following the completion of the transaction, the chief financial officer owned 1,132,122 shares of the company’s stock, valued at $24,997,253.76. The trade was a 6.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 171,122 shares of company stock valued at $4,148,906. 16.42% of the stock is owned by insiders.

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.