Green Alpha Advisors LLC Makes New Investment in Planet Labs PBC $PL

Green Alpha Advisors LLC bought a new position in Planet Labs PBC (NYSE:PL) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 50,917 shares of the company’s stock, valued at approximately $835,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. American Capital Advisory LLC bought a new stake in Planet Labs PBC in the 1st quarter valued at $28,000. Western Wealth Management LLC bought a new position in shares of Planet Labs PBC during the 1st quarter worth about $28,000. Pittenger & Anderson Inc. boosted its position in shares of Planet Labs PBC by 40.9% during the 1st quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock valued at $38,000 after acquiring an additional 395 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Planet Labs PBC during the 1st quarter valued at about $41,000. Finally, Whittier Trust Co. bought a new stake in Planet Labs PBC in the first quarter valued at about $66,000. Institutional investors own 41.71% of the company’s stock.

Wall Street Analyst Weigh In

PL has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Planet Labs PBC in a research report on Friday, September 11th. Northland Securities set a $40.00 price objective on Planet Labs PBC in a report on Friday, September 4th. Barclays set a $17.00 price objective on Planet Labs PBC in a research note on Thursday. Berenberg Bank assumed coverage on Planet Labs PBC in a report on Wednesday, September 2nd. They issued a “buy” rating and a $25.00 target price for the company. Finally, Needham & Company LLC cut their target price on Planet Labs PBC from $53.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.56.

Planet Labs PBC Price Performance

Shares of Planet Labs PBC stock traded down $0.58 during mid-day trading on Thursday, reaching $17.17. 19,132,962 shares of the stock were exchanged, compared to its average volume of 12,108,958. The company has a market cap of $6.25 billion, a price-to-earnings ratio of -15.61 and a beta of 2.17. The company has a current ratio of 2.84, a quick ratio of 2.82 and a debt-to-equity ratio of 0.79. The firm has a 50-day simple moving average of $19.62 and a 200 day simple moving average of $28.79. Planet Labs PBC has a fifty-two week low of $10.52 and a fifty-two week high of $51.76.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.04. The firm had revenue of $116.05 million during the quarter, compared to the consensus estimate of $104.53 million. Planet Labs PBC had a negative net margin of 95.13% and a negative return on equity of 93.11%. The firm’s quarterly revenue was up 58.2% on a year-over-year basis. During the same period last year, the firm posted ($0.07) EPS. On average, sell-side analysts predict that Planet Labs PBC will post -0.91 EPS for the current fiscal year.

Insider Activity

In other Planet Labs PBC news, Director Ita M. Brennan sold 11,500 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $16.30, for a total value of $187,450.00. Following the transaction, the director owned 250,373 shares of the company’s stock, valued at approximately $4,081,079.90. The trade was a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ashley F. Johnson sold 75,035 shares of the stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total value of $1,656,772.80. Following the sale, the chief financial officer owned 1,132,122 shares in the company, valued at $24,997,253.76. The trade was a 6.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 290,525 shares of company stock worth $6,166,391. 16.42% of the stock is currently owned by insiders.

Planet Labs PBC Profile

Planet Labs PBC is an Earth-imaging and geospatial data company that operates a constellation of satellites designed to provide frequent, high-resolution imagery of the planet. Its data is used to monitor changes in land, infrastructure, agriculture, forests, oceans and other environments.

The company’s products include PlanetScope, a satellite imagery service intended to provide frequent coverage of large areas; SkySat, which offers higher-resolution imagery and video capabilities; and other satellite and data products, including hyperspectral imaging initiatives.