Planet Labs PBC $PL Shares Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Planet Labs PBC (NYSE:PL) by 231.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,056,440 shares of the company’s stock after buying an additional 737,269 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Planet Labs PBC were worth $13,713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in PL. Wealth Enhancement Advisory Services LLC increased its position in shares of Planet Labs PBC by 2.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 31,264 shares of the company’s stock valued at $406,000 after acquiring an additional 781 shares during the period. Greenspring Advisors LLC purchased a new stake in Planet Labs PBC during the 3rd quarter valued at about $216,000. Heritage Oak Wealth Advisors LLC acquired a new position in shares of Planet Labs PBC in the third quarter valued at about $130,000. Diversified Trust Co purchased a new position in shares of Planet Labs PBC in the third quarter worth about $341,000. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of Planet Labs PBC by 0.8% during the third quarter. 180 Wealth Advisors LLC now owns 147,032 shares of the company’s stock worth $1,908,000 after purchasing an additional 1,114 shares during the period. 41.71% of the stock is owned by hedge funds and other institutional investors.

Planet Labs PBC Stock Performance

PL opened at $27.02 on Friday. The firm has a fifty day moving average price of $18.45 and a 200 day moving average price of $12.82. Planet Labs PBC has a 1 year low of $2.79 and a 1 year high of $30.90. The stock has a market cap of $8.47 billion, a P/E ratio of -64.33 and a beta of 1.94. The company has a debt-to-equity ratio of 1.28, a current ratio of 4.00 and a quick ratio of 4.00.

Analyst Ratings Changes

Several equities analysts recently weighed in on PL shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Planet Labs PBC in a report on Thursday, December 11th. Craig Hallum reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Planet Labs PBC in a report on Tuesday, January 13th. Northland Securities set a $28.00 target price on shares of Planet Labs PBC in a report on Tuesday, January 13th. Needham & Company LLC boosted their target price on shares of Planet Labs PBC from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Planet Labs PBC from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.64.

Insider Activity

In other news, Director Kristen Robinson sold 47,835 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $26.96, for a total transaction of $1,289,631.60. Following the sale, the director directly owned 222,897 shares of the company’s stock, valued at $6,009,303.12. This represents a 17.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ashley F. Johnson sold 150,731 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $27.01, for a total value of $4,071,244.31. Following the sale, the chief financial officer owned 1,956,101 shares in the company, valued at $52,834,288.01. This trade represents a 7.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 292,348 shares of company stock worth $7,323,958. 17.53% of the stock is currently owned by insiders.

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.