SG Americas Securities LLC Reduces Position in Planet Labs PBC $PL

SG Americas Securities LLC trimmed its position in shares of Planet Labs PBC (NYSE:PL) by 29.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 60,615 shares of the company’s stock after selling 25,206 shares during the quarter. SG Americas Securities LLC’s holdings in Planet Labs PBC were worth $370,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PL. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Planet Labs PBC by 42.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,140 shares of the company’s stock worth $129,000 after purchasing an additional 11,314 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Planet Labs PBC by 32.1% in the first quarter. Mackenzie Financial Corp now owns 13,364 shares of the company’s stock worth $45,000 after purchasing an additional 3,245 shares during the last quarter. Vanguard Group Inc. increased its stake in Planet Labs PBC by 1.6% in the 1st 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. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Planet Labs PBC by 41.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,323,263 shares of the company’s stock valued at $4,473,000 after buying an additional 389,375 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Planet Labs PBC by 144.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 709,657 shares of the company’s stock valued at $2,399,000 after buying an additional 419,773 shares in the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Planet Labs PBC Stock Up 1.7%

Planet Labs PBC stock opened at $11.92 on Friday. The firm has a market cap of $3.67 billion, a P/E ratio of -39.72 and a beta of 1.99. The business has a fifty day moving average of $12.98 and a two-hundred day moving average of $8.59. Planet Labs PBC has a twelve month low of $2.79 and a twelve month high of $16.78.

Planet Labs PBC (NYSE:PL) last released its quarterly 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 company had revenue of $73.39 million during the quarter, compared to the consensus estimate of $65.88 million. Planet Labs PBC had a negative return on equity of 20.25% and a negative net margin of 34.46%.The company’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) earnings per share. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current year.

Insider Buying and Selling

In other Planet Labs PBC news, insider Robert H. Schingler sold 81,656 shares of the stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $15.50, for a total transaction of $1,265,668.00. Following the completion of the sale, the insider directly owned 1,288,843 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Corporate insiders own 17.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PL. Cantor Fitzgerald upped their target price on shares of Planet Labs PBC from $8.50 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Deutsche Bank Aktiengesellschaft increased their price objective on Planet Labs PBC from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Citigroup reaffirmed an “outperform” rating on shares of Planet Labs PBC in a research report on Tuesday, September 9th. Citizens Jmp downgraded Planet Labs PBC from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a research note on Wednesday, October 8th. 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 company. Based on data from MarketBeat, Planet Labs PBC 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.