Planet Labs PBC $PL Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its position in Planet Labs PBC (NYSE:PL) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,662 shares of the company’s stock after selling 7,706 shares during the quarter. Jennison Associates LLC’s holdings in Planet Labs PBC were worth $809,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Unconventional Investor LLC purchased a new stake in Planet Labs PBC in the second quarter valued at approximately $305,000. May Hill Capital LLC purchased a new stake in Planet Labs PBC in the second quarter valued at approximately $62,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Planet Labs PBC by 24.6% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 163,948 shares of the company’s stock valued at $1,000,000 after purchasing an additional 32,403 shares during the period. Teacher Retirement System of Texas raised its position in Planet Labs PBC by 5.9% in the second quarter. Teacher Retirement System of Texas now owns 31,973 shares of the company’s stock valued at $195,000 after purchasing an additional 1,782 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in Planet Labs PBC in the second quarter valued at approximately $92,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PL shares. JMP Securities reissued a “market perform” rating on shares of Planet Labs PBC in a research report on Tuesday, October 21st. Needham & Company LLC upped their price objective 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. Citigroup reaffirmed an “outperform” rating on shares of Planet Labs PBC in a research report on Tuesday, September 9th. Cantor Fitzgerald upped their price objective on Planet Labs PBC from $8.50 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Planet Labs PBC in a research report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.26.

Planet Labs PBC Price Performance

NYSE:PL opened at $13.41 on Friday. The firm has a market capitalization of $4.13 billion, a PE ratio of -44.69 and a beta of 1.99. The business’s fifty day moving average price is $11.51 and its 200 day moving average price is $7.41. Planet Labs PBC has a 12 month low of $2.18 and a 12 month high of $16.78.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Monday, September 8th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The business had revenue of $73.39 million during the quarter, compared to analysts’ expectations of $65.88 million. Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.25%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the company earned ($0.06) EPS. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities analysts anticipate that Planet Labs PBC will post -0.37 EPS for the current year.

Insider Buying and Selling

In related news, insider Robert H. Schingler sold 81,656 shares of the 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 transaction, the insider owned 1,288,843 shares of the company’s stock, valued at $19,977,066.50. This represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 17.53% of the stock is owned by company insiders.

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.