Brokerages Set Planet Labs PBC (NYSE:PL) Target Price at $30.61

Planet Labs PBC (NYSE:PL) has been given an average rating of “Hold” by the twelve ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $30.6083.

A number of brokerages have issued reports on PL. Weiss Ratings raised Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Zacks Research lowered Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research report on Tuesday. New Street Research began coverage on Planet Labs PBC in a research report on Wednesday, May 13th. They issued a “sell” rating and a $28.00 target price on the stock. Citigroup boosted their target price on Planet Labs PBC from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Finally, Needham & Company LLC boosted their target price on Planet Labs PBC to $40.00 and gave the company a “buy” rating in a research report on Friday, March 20th.

Insider Buying and Selling

In other news, insider Robert H. Schingler sold 73,683 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the sale, the insider owned 256,488 shares of the company’s stock, valued at approximately $8,995,034.16. This represents a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ashley F. Johnson sold 200,000 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $35.10, for a total value of $7,020,000.00. Following the sale, the chief financial officer directly owned 1,895,162 shares in the company, valued at $66,520,186.20. This represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. 17.53% of the stock is owned by insiders.

Institutional Trading of Planet Labs PBC

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Planet Labs PBC by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 19,358,515 shares of the company’s stock worth $381,750,000 after acquiring an additional 806,818 shares during the period. New York State Common Retirement Fund increased its position in shares of Planet Labs PBC by 45.3% during the third quarter. New York State Common Retirement Fund now owns 202,384 shares of the company’s stock worth $2,627,000 after acquiring an additional 63,088 shares during the period. Divisadero Street Capital Management LP purchased a new stake in shares of Planet Labs PBC during the third quarter worth $13,564,000. Oppenheimer & Co. Inc. increased its position in shares of Planet Labs PBC by 74.1% during the third quarter. Oppenheimer & Co. Inc. now owns 2,002,184 shares of the company’s stock worth $25,988,000 after acquiring an additional 851,937 shares during the period. Finally, Ranger Investment Management L.P. purchased a new stake in shares of Planet Labs PBC during the third quarter worth $2,688,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Up 2.5%

Shares of NYSE PL opened at $42.65 on Friday. The firm has a market cap of $14.76 billion, a price-to-earnings ratio of -54.67 and a beta of 1.91. The company has a quick ratio of 1.64, a current ratio of 1.65 and a debt-to-equity ratio of 2.37. Planet Labs PBC has a 52-week low of $3.47 and a 52-week high of $45.78. The business’s 50 day moving average is $34.64 and its two-hundred day moving average is $24.96.

Planet Labs PBC Company Profile

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.