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

May Hill Capital LLC purchased a new position in shares of Planet Labs PBC (NYSE:PL) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,195 shares of the company’s stock, valued at approximately $62,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Planet Labs PBC by 1.6% during the first quarter. Vanguard Group Inc. now owns 16,213,565 shares of the company’s stock worth $54,802,000 after buying an additional 261,171 shares during the period. Goldman Sachs Group Inc. boosted 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 buying an additional 653,173 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Planet Labs PBC by 41.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,323,263 shares of the company’s stock worth $4,473,000 after buying an additional 389,375 shares during the period. Liontrust Investment Partners LLP raised its stake in shares of Planet Labs PBC by 175.0% in the first quarter. Liontrust Investment Partners LLP now owns 1,066,133 shares of the company’s stock valued at $3,604,000 after acquiring an additional 678,486 shares in the last quarter. Finally, LBP AM SA raised its stake in shares of Planet Labs PBC by 17.0% in the second quarter. LBP AM SA now owns 934,158 shares of the company’s stock valued at $5,698,000 after acquiring an additional 135,680 shares in the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Planet Labs PBC news, insider Robert H. Schingler sold 81,656 shares of the firm’s stock in a transaction 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 directly owned 1,288,843 shares in the company, valued at $19,977,066.50. This trade represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.53% of the stock is currently owned by corporate insiders.

Planet Labs PBC Price Performance

Planet Labs PBC stock opened at $12.90 on Wednesday. Planet Labs PBC has a 1-year low of $2.18 and a 1-year high of $16.78. The stock has a market cap of $3.97 billion, a PE ratio of -42.99 and a beta of 1.99. The stock’s fifty day moving average is $11.12 and its two-hundred day moving average is $7.20.

Planet Labs PBC (NYSE:PL) last posted its quarterly 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 during the quarter, compared to analyst estimates of $65.88 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The firm’s quarterly revenue 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. On average, 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 have recently issued reports on PL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Planet Labs PBC in a research note on Wednesday, October 8th. Citigroup reiterated an “outperform” rating on shares of Planet Labs PBC in a research note on Tuesday, September 9th. Needham & Company LLC increased their price objective on Planet Labs PBC from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Cantor Fitzgerald increased their price objective on Planet Labs PBC from $8.50 to $20.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, Citizens Jmp cut Planet Labs PBC from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 21st. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Planet Labs PBC currently has an average rating of “Moderate Buy” and an average price target 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.