Y Intercept Hong Kong Ltd Sells 44,282 Shares of Planet Labs PBC $PL

Y Intercept Hong Kong Ltd cut its holdings in shares of Planet Labs PBC (NYSE:PL) by 23.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,504 shares of the company’s stock after selling 44,282 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Planet Labs PBC were worth $4,067,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Parkside Financial Bank & Trust boosted its holdings in shares of Planet Labs PBC by 92.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock valued at $31,000 after acquiring an additional 745 shares during the last quarter. Baillie Gifford & Co. purchased a new position in shares of Planet Labs PBC during the fourth quarter valued at approximately $32,000. Larson Financial Group LLC purchased a new position in shares of Planet Labs PBC during the third quarter valued at approximately $39,000. GAMMA Investing LLC lifted its position in Planet Labs PBC by 146.4% during the fourth quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock valued at $40,000 after purchasing an additional 1,195 shares during the period. Finally, North Star Investment Management Corp. boosted its holdings in Planet Labs PBC by 1,111.1% in the fourth quarter. North Star Investment Management Corp. now owns 2,180 shares of the company’s stock worth $43,000 after purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Up 0.2%

PL opened at $31.44 on Monday. The firm’s 50 day simple moving average is $36.90 and its two-hundred day simple moving average is $30.14. The company has a market capitalization of $11.20 billion, a PE ratio of -27.58 and a beta of 2.06. Planet Labs PBC has a 1-year low of $5.87 and a 1-year high of $51.76. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 1.01.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $94.15 million during the quarter, compared to the consensus estimate of $90.39 million. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The business’s revenue was up 42.1% on a year-over-year basis. As a group, equities analysts forecast that Planet Labs PBC will post -0.65 EPS for the current year.

Analyst Upgrades and Downgrades

PL has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $36.00 price target on shares of Planet Labs PBC in a report on Monday, June 15th. Cantor Fitzgerald lifted their price objective on Planet Labs PBC from $20.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, March 20th. Weiss Ratings raised Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Craig Hallum raised their target price on Planet Labs PBC from $36.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Needham & Company LLC boosted their price target on Planet Labs PBC from $40.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.11.

Planet Labs PBC 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.