23,329 Shares in Planet Labs PBC $PL Acquired by Leonteq Securities AG

Leonteq Securities AG acquired a new position in Planet Labs PBC (NYSE:PL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 23,329 shares of the company’s stock, valued at approximately $460,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Planet Labs PBC by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 19,358,515 shares of the company’s stock valued at $381,750,000 after buying an additional 806,818 shares during the period. Divisadero Street Capital Management LP acquired a new position in Planet Labs PBC in the third quarter valued at approximately $13,564,000. New York State Common Retirement Fund lifted its stake in Planet Labs PBC by 45.3% in the third quarter. New York State Common Retirement Fund now owns 202,384 shares of the company’s stock valued at $2,627,000 after buying an additional 63,088 shares during the period. Oppenheimer & Co. Inc. lifted its stake in Planet Labs PBC by 74.1% in the third quarter. Oppenheimer & Co. Inc. now owns 2,002,184 shares of the company’s stock valued at $25,988,000 after buying an additional 851,937 shares during the period. Finally, Ranger Investment Management L.P. acquired a new position in Planet Labs PBC in the third quarter valued at approximately $2,688,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PL. Zacks Research lowered Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Cantor Fitzgerald boosted their price target on Planet Labs PBC from $20.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. Deutsche Bank Aktiengesellschaft set a $38.00 price target on Planet Labs PBC and gave the company a “buy” rating in a research note on Friday, March 27th. Weiss Ratings raised Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. Finally, Needham & Company LLC boosted their price target on Planet Labs PBC to $40.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.61.

Insiders Place Their Bets

In related news, insider Robert H. Schingler sold 73,683 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $35.07, for a total value of $2,584,062.81. Following the completion of the sale, the insider directly owned 256,488 shares of the company’s stock, valued at approximately $8,995,034.16. This represents a 22.32% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 stock in a transaction 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 completion of the sale, the chief financial officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 17.53% of the company’s stock.

Planet Labs PBC Trading Up 4.5%

Shares of Planet Labs PBC stock opened at $44.39 on Friday. The company has a market capitalization of $15.36 billion, a P/E ratio of -56.91 and a beta of 1.91. The stock has a fifty day simple moving average of $35.37 and a 200 day simple moving average of $25.30. Planet Labs PBC has a 12-month low of $3.53 and a 12-month high of $45.78. The company has a current ratio of 1.65, a quick ratio of 1.64 and a debt-to-equity ratio of 2.37.

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.