Planet Labs PBC (NYSE:PL) Hits New 52-Week High – Here’s What Happened

Planet Labs PBC (NYSE:PL) reached a new 52-week high during trading on Monday . The company traded as high as $42.80 and last traded at $42.2520, with a volume of 4785608 shares. The stock had previously closed at $39.04.

Analysts Set New Price Targets

PL has been the topic of a number of recent research reports. Craig Hallum reissued a “buy” rating and issued a $30.00 target price on shares of Planet Labs PBC in a research note on Tuesday, January 13th. Northland Securities set a $28.00 price objective on Planet Labs PBC in a research report on Tuesday, January 13th. Zacks Research raised Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. The Goldman Sachs Group increased their price objective on Planet Labs PBC from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Finally, Deutsche Bank Aktiengesellschaft set a $38.00 price objective on Planet Labs PBC and gave the company a “buy” rating in a research report on Friday, March 27th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $29.94.

Planet Labs PBC Price Performance

The company has a debt-to-equity ratio of 2.37, a current ratio of 1.65 and a quick ratio of 1.64. The company has a market capitalization of $14.48 billion, a PE ratio of -53.63 and a beta of 1.91. The firm has a 50-day moving average of $31.74 and a 200 day moving average of $23.16.

Insider Buying and Selling at Planet Labs PBC

In other Planet Labs PBC news, insider Robert H. Schingler sold 73,683 shares of the stock in a transaction dated 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 transaction, 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 stock in a transaction dated 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 transaction, the chief financial officer directly owned 1,895,162 shares in the company, valued at approximately $66,520,186.20. This represents a 9.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 17.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PL. American Capital Advisory LLC bought a new position in Planet Labs PBC in the first quarter valued at about $28,000. Parkside Financial Bank & Trust lifted its holdings in Planet Labs PBC by 92.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock valued at $31,000 after acquiring an additional 745 shares during the period. MCF Advisors LLC bought a new position in Planet Labs PBC in the third quarter valued at about $32,000. Baillie Gifford & Co. bought a new position in Planet Labs PBC in the fourth quarter valued at about $32,000. Finally, Pittenger & Anderson Inc. lifted its holdings in Planet Labs PBC by 40.9% in the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock valued at $38,000 after acquiring an additional 395 shares during the period. Institutional investors own 41.71% of the company’s stock.

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.