May Hill Capital LLC Invests $62,000 in Planet Labs PBC $PL

May Hill Capital LLC bought a new position in shares of Planet Labs PBC (NYSE:PL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,195 shares of the company’s stock, valued at approximately $62,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of Planet Labs PBC by 54.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock worth $6,274,000 after purchasing an additional 653,173 shares in the last quarter. LBP AM SA increased its position in shares of Planet Labs PBC by 17.0% during the second quarter. LBP AM SA now owns 934,158 shares of the company’s stock worth $5,698,000 after purchasing an additional 135,680 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Planet Labs PBC during the first quarter worth about $115,000. Conestoga Capital Advisors LLC increased its position in shares of Planet Labs PBC by 13.1% during the second quarter. Conestoga Capital Advisors LLC now owns 427,365 shares of the company’s stock worth $2,607,000 after purchasing an additional 49,615 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Planet Labs PBC by 1,316.8% during the first quarter. Principal Financial Group Inc. now owns 167,362 shares of the company’s stock worth $566,000 after purchasing an additional 155,549 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Insiders Place Their Bets

In other Planet Labs PBC news, insider Robert H. Schingler sold 81,656 shares of Planet Labs PBC stock in a transaction that occurred 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 owned 1,288,843 shares of the company’s stock, valued at approximately $19,977,066.50. The trade was a 5.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.53% of the company’s stock.

Analysts Set New Price Targets

PL has been the topic of a number of research analyst reports. Needham & Company LLC lifted their target price on Planet Labs PBC from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Planet Labs PBC in a report on Wednesday, October 8th. Citizens Jmp lowered Planet Labs PBC from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 21st. Citigroup reissued an “outperform” rating on shares of Planet Labs PBC in a report on Tuesday, September 9th. Finally, Cantor Fitzgerald raised their price target 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 given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.26.

Planet Labs PBC Stock Down 3.1%

NYSE PL opened at $12.90 on Wednesday. Planet Labs PBC has a 52-week low of $2.18 and a 52-week high of $16.78. The business’s 50-day moving average price is $11.12 and its 200 day moving average price is $7.20. The firm has a market cap of $3.97 billion, a P/E ratio of -42.99 and a beta of 1.99.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $65.88 million. During the same period in the prior year, the firm posted ($0.06) EPS. Planet Labs PBC’s revenue for the quarter 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. As a group, analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current year.

Planet Labs PBC 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.