Ranger Investment Management L.P. Sells 78,785 Shares of Planet Labs PBC $PL

Ranger Investment Management L.P. cut its holdings in Planet Labs PBC (NYSE:PL) by 12.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 561,284 shares of the company’s stock after selling 78,785 shares during the quarter. Ranger Investment Management L.P. owned 0.16% of Planet Labs PBC worth $15,688,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PL. Pittenger & Anderson Inc. increased its stake in shares of Planet Labs PBC by 40.9% in 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. Wellington Shields & Co. LLC lifted its position in shares of Planet Labs PBC by 2.8% during the 4th quarter. Wellington Shields & Co. LLC now owns 15,776 shares of the company’s stock valued at $311,000 after acquiring an additional 435 shares during the period. Xponance LLC boosted its stake in Planet Labs PBC by 3.1% during the fourth quarter. Xponance LLC now owns 18,656 shares of the company’s stock worth $368,000 after acquiring an additional 555 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in Planet Labs PBC by 5.4% during the fourth quarter. Wealthfront Advisers LLC now owns 12,715 shares of the company’s stock worth $251,000 after acquiring an additional 657 shares in the last quarter. Finally, KBC Group NV grew its holdings in Planet Labs PBC by 7.1% in the first quarter. KBC Group NV now owns 9,985 shares of the company’s stock worth $279,000 after purchasing an additional 661 shares during the period. 41.71% of the stock is currently owned by institutional investors.

Insider Transactions at Planet Labs PBC

In related news, Director John W. Raymond sold 6,494 shares of the company’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $26.16, for a total value of $169,883.04. Following the sale, the director owned 37,114 shares in the company, valued at $970,902.24. This represents a 14.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert H. Schingler sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $25.92, for a total transaction of $648,000.00. Following the completion of the transaction, the insider directly owned 225,171 shares in the company, valued at approximately $5,836,432.32. The trade was a 9.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 171,122 shares of company stock valued at $4,148,906 over the last three months. Corporate insiders own 16.42% of the company’s stock.

Planet Labs PBC Stock Performance

Shares of PL stock opened at $20.42 on Wednesday. The firm has a market capitalization of $7.28 billion, a PE ratio of -17.91 and a beta of 2.06. The firm has a fifty day simple moving average of $32.03 and a two-hundred day simple moving average of $30.68. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 1.01. Planet Labs PBC has a 12 month low of $5.87 and a 12 month high of $51.76.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The firm had revenue of $94.15 million for the quarter, compared to the consensus estimate of $90.39 million. The business’s revenue was up 42.1% on a year-over-year basis. Analysts forecast that Planet Labs PBC will post -0.92 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. New Street Research started coverage on shares of Planet Labs PBC in a research note on Wednesday, May 13th. They issued a “sell” rating and a $28.00 price target for the company. Weiss Ratings raised shares of Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Wedbush initiated coverage on Planet Labs PBC in a research note on Wednesday, July 1st. They issued an “outperform” rating and a $50.00 target price for the company. Zacks Research raised Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Finally, Northland Securities set a $50.00 price target on Planet Labs PBC in a research note on Friday, June 5th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.36.

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.