Norges Bank Invests $17.49 Million in Planet Labs PBC $PL

Norges Bank purchased a new position in Planet Labs PBC (NYSE:PL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 887,127 shares of the company’s stock, valued at approximately $17,494,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Planet Labs PBC by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 19,358,515 shares of the company’s stock worth $381,750,000 after buying an additional 806,818 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Planet Labs PBC by 0.3% during the second quarter. Canada Pension Plan Investment Board now owns 7,820,400 shares of the company’s stock worth $47,704,000 after buying an additional 20,400 shares during the last quarter. Geode Capital Management LLC boosted its stake in Planet Labs PBC by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 5,702,642 shares of the company’s stock worth $112,475,000 after buying an additional 71,381 shares during the last quarter. Barclays PLC boosted its stake in Planet Labs PBC by 758.1% during the third quarter. Barclays PLC now owns 3,727,743 shares of the company’s stock worth $48,386,000 after buying an additional 3,293,333 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Planet Labs PBC by 51.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,705,913 shares of the company’s stock worth $48,103,000 after buying an additional 1,252,782 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Price Performance

NYSE:PL opened at $31.11 on Wednesday. Planet Labs PBC has a 52 week low of $4.90 and a 52 week high of $51.76. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $10.77 billion, a P/E ratio of -27.29 and a beta of 1.99. The stock’s fifty day moving average is $38.80 and its two-hundred day moving average is $28.03.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The company had revenue of $94.15 million for the quarter, compared to the consensus estimate of $90.39 million. The company’s quarterly revenue was up 42.1% compared to the same quarter last year. Equities analysts expect that Planet Labs PBC will post -0.45 EPS for the current year.

Analyst Ratings Changes

PL has been the topic of a number of recent research reports. Cantor Fitzgerald boosted their price objective on Planet Labs PBC from $20.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. Citigroup boosted their price objective on Planet Labs PBC from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Needham & Company LLC boosted their price objective on Planet Labs PBC from $40.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Weiss Ratings lowered Planet Labs PBC from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft set a $38.00 price objective on Planet Labs PBC and gave the stock a “buy” rating in a research note on Friday, March 27th. 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 company. According to data from MarketBeat.com, Planet Labs PBC has an average rating of “Hold” and a consensus target price of $35.11.

Insiders Place Their Bets

In related news, CFO Ashley F. Johnson sold 200,000 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was 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 in the company, valued at approximately $66,520,186.20. The trade was a 9.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert H. Schingler sold 73,683 shares of the business’s stock in a transaction on Monday, April 6th. The shares were 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 owned 256,488 shares in the company, valued at $8,995,034.16. This 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. 16.42% of the stock is owned by insiders.

Key Headlines Impacting Planet Labs PBC

Here are the key news stories impacting Planet Labs PBC this week:

• Positive Sentiment: Planet Labs announced it is a founding participant in the AIRS initiative with Astroscale, a new industry-academia effort focused on atmospheric reentry research. The announcement highlights Planet’s role in a growing space ecosystem and could reinforce its long-term relevance in orbital data and space sustainability. Article Title
• Positive Sentiment: Options activity spiked, with traders buying far more Planet Labs call options than usual. That often signals expectations for continued upside or a near-term catalyst in the stock.
• Positive Sentiment: Recent commentary has pointed to strong quarterly results, including record revenue, a large backlog, and expanding defense and AI opportunities, which may be helping sentiment around the company. Article Title
• Neutral Sentiment: Several articles are focused on valuation and post-earnings volatility, suggesting investors are still debating whether the recent rally is justified after a sharp run-up and prior decline. Article Title
• Negative Sentiment: Some analysis cautions that although revenue growth remains strong, profitability is still distant and guidance implies slower growth ahead, with capital intensity and potential dilution remaining concerns for investors. Article Title

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.