Y Intercept Hong Kong Ltd Purchases New Stake in Planet Labs PBC $PL

Y Intercept Hong Kong Ltd acquired a new position in shares of Planet Labs PBC (NYSE:PL) in the third quarter, HoldingsChannel.com reports. The firm acquired 99,762 shares of the company’s stock, valued at approximately $1,295,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Planet Labs PBC by 231.0% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,056,440 shares of the company’s stock worth $13,713,000 after buying an additional 737,269 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Planet Labs PBC by 2.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 31,264 shares of the company’s stock valued at $406,000 after buying an additional 781 shares during the last quarter. Greenspring Advisors LLC acquired a new position in Planet Labs PBC in the 3rd quarter valued at about $216,000. Heritage Oak Wealth Advisors LLC bought a new position in Planet Labs PBC in the 3rd quarter valued at about $130,000. Finally, Diversified Trust Co bought a new position in Planet Labs PBC in the 3rd quarter valued at about $341,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Price Performance

Shares of NYSE PL opened at $24.94 on Friday. The business has a fifty day moving average price of $19.98 and a two-hundred day moving average price of $13.57. The stock has a market capitalization of $7.82 billion, a PE ratio of -59.38 and a beta of 1.94. The company has a debt-to-equity ratio of 1.28, a current ratio of 4.00 and a quick ratio of 4.00. Planet Labs PBC has a fifty-two week low of $2.79 and a fifty-two week high of $30.90.

Planet Labs PBC (NYSE:PL) last released its earnings results on Wednesday, December 10th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.02. Planet Labs PBC had a negative return on equity of 31.01% and a negative net margin of 45.87%.The company had revenue of $81.25 million for the quarter, compared to analyst estimates of $72.02 million. During the same period in the prior year, the firm posted ($0.02) EPS. Planet Labs PBC’s quarterly revenue was up 32.6% on a year-over-year basis. As a group, equities analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Robert H. Schingler sold 73,782 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $19.35, for a total transaction of $1,427,681.70. Following the completion of the sale, the insider owned 1,164,729 shares of the company’s stock, valued at approximately $22,537,506.15. This represents a 5.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kristen Robinson sold 47,835 shares of the stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $26.96, for a total transaction of $1,289,631.60. Following the sale, the director owned 222,897 shares in the company, valued at $6,009,303.12. This represents a 17.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 292,348 shares of company stock valued at $7,323,958. Corporate insiders own 17.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PL. Needham & Company LLC boosted their price objective on Planet Labs PBC from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. JMP Securities reissued a “market perform” rating on shares of Planet Labs PBC in a report on Tuesday, October 21st. Northland Securities set a $28.00 price target on Planet Labs PBC in a research note on Tuesday, January 13th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $16.40 price objective on shares of Planet Labs PBC in a report on Tuesday, January 20th. Finally, Citizens Jmp downgraded Planet Labs PBC from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 21st. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.64.

About Planet Labs PBC

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.