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

Trek Financial LLC bought a new position in shares of Planet Labs PBC (NYSE:PL) during the fourth quarter, Holdings Channel reports. The fund bought 105,441 shares of the company’s stock, valued at approximately $2,079,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Baillie Gifford & Co. bought a new stake in Planet Labs PBC during the 4th quarter worth approximately $32,000. GAMMA Investing LLC increased its holdings in Planet Labs PBC by 146.4% during the 4th quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock worth $40,000 after acquiring an additional 1,195 shares during the period. North Star Investment Management Corp. increased its holdings in Planet Labs PBC by 1,111.1% during the 4th quarter. North Star Investment Management Corp. now owns 2,180 shares of the company’s stock worth $43,000 after acquiring an additional 2,000 shares during the period. MCF Advisors LLC bought a new stake in Planet Labs PBC during the 3rd quarter worth approximately $32,000. Finally, Larson Financial Group LLC bought a new stake in Planet Labs PBC during the 3rd quarter worth approximately $39,000. Institutional investors own 41.71% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Ashley F. Johnson sold 200,000 shares of the company’s 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 owned 1,895,162 shares of the company’s stock, valued at approximately $66,520,186.20. This represents a 9.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert H. Schingler sold 73,683 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $8,995,034.16. This trade represents a 22.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Planet Labs PBC from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, April 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. Craig Hallum reissued a “buy” rating and issued a $30.00 price target on shares of Planet Labs PBC in a research note on Tuesday, January 13th. Citigroup boosted their price target on shares of Planet Labs PBC from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Finally, Zacks Research raised shares of Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.94.

Planet Labs PBC Price Performance

PL stock opened at $40.66 on Wednesday. Planet Labs PBC has a one year low of $3.47 and a one year high of $43.12. The stock has a market cap of $14.08 billion, a PE ratio of -52.13 and a beta of 1.91. The firm has a 50 day simple moving average of $32.68 and a two-hundred day simple moving average of $23.74. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.65 and a quick ratio of 1.64.

Planet Labs PBC 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.