105,441 Shares in Planet Labs PBC $PL Bought by Trek Financial LLC

Trek Financial LLC purchased a new position in shares of Planet Labs PBC (NYSE:PL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 105,441 shares of the company’s stock, valued at approximately $2,079,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PL. MCF Advisors LLC purchased a new position in Planet Labs PBC in the third quarter valued at about $32,000. Baillie Gifford & Co. purchased a new position in Planet Labs PBC in the fourth quarter valued at about $32,000. Larson Financial Group LLC purchased a new position in Planet Labs PBC in the third quarter valued at about $39,000. GAMMA Investing LLC boosted its stake in Planet Labs PBC by 146.4% in the fourth quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock valued at $40,000 after acquiring an additional 1,195 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its stake in Planet Labs PBC by 1,111.1% in the fourth quarter. North Star Investment Management Corp. now owns 2,180 shares of the company’s stock valued at $43,000 after acquiring an additional 2,000 shares during the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Planet Labs PBC

In other news, CFO Ashley F. Johnson sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total value of $7,020,000.00. Following the sale, the chief financial officer owned 1,895,162 shares of the company’s stock, valued at $66,520,186.20. The trade was a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert H. Schingler sold 73,683 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the completion of the sale, the insider directly owned 256,488 shares in the company, valued at approximately $8,995,034.16. This trade represents a 22.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 17.53% of the company’s stock.

Planet Labs PBC Stock Performance

NYSE PL opened at $40.66 on Wednesday. The company’s 50 day moving average is $32.68 and its 200-day moving average is $23.74. Planet Labs PBC has a 12-month low of $3.47 and a 12-month high of $43.12. The company has a quick ratio of 1.64, a current ratio of 1.65 and a debt-to-equity ratio of 2.37. The firm has a market cap of $14.08 billion, a P/E ratio of -52.13 and a beta of 1.91.

Analysts Set New Price Targets

A number of research firms have weighed in on PL. Morgan Stanley boosted their target price on shares of Planet Labs PBC from $26.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 25th. Cantor Fitzgerald boosted their target price on shares of Planet Labs PBC from $20.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. Weiss Ratings cut shares of Planet Labs PBC from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Northland Securities set a $28.00 target price on shares of Planet Labs PBC in a research note on Tuesday, January 13th. Finally, Deutsche Bank Aktiengesellschaft set a $38.00 target price on shares of Planet Labs PBC and gave the company a “buy” rating in a research note on Friday, March 27th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Planet Labs PBC has a consensus rating of “Hold” and a consensus price target of $29.94.

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.