195,761 Shares in Planet Labs PBC $PL Purchased by Oddo BHF Asset Management Sas

Oddo BHF Asset Management Sas acquired a new position in Planet Labs PBC (NYSE:PL) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 195,761 shares of the company’s stock, valued at approximately $5,472,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its holdings in shares of Planet Labs PBC by 671.1% in the 1st quarter. AQR Capital Management LLC now owns 92,693 shares of the company’s stock worth $313,000 after purchasing an additional 80,672 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Planet Labs PBC in the first quarter valued at approximately $189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Planet Labs PBC by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 130,798 shares of the company’s stock valued at $442,000 after purchasing an additional 8,143 shares during the period. Goldman Sachs Group Inc. grew its holdings in Planet Labs PBC by 54.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock valued at $6,274,000 after purchasing an additional 653,173 shares during the period. Finally, Thompson Davis & CO. Inc. bought a new position in Planet Labs PBC during the second quarter valued at $121,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PL. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $36.00 target price on shares of Planet Labs PBC in a research note on Monday, June 15th. Citigroup lifted their price objective on Planet Labs PBC from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. The Goldman Sachs Group boosted their price objective on Planet Labs PBC from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Northland Securities set a $50.00 price objective on shares of Planet Labs PBC in a report on Friday, June 5th. Finally, Wedbush assumed coverage on shares of Planet Labs PBC in a research report on Wednesday, July 1st. They set an “outperform” rating and a $50.00 target price for the company. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.36.

Insider Buying and Selling

In related news, insider Robert H. Schingler sold 25,000 shares of the stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $25.92, for a total transaction of $648,000.00. Following the sale, the insider owned 225,171 shares of the company’s stock, valued at approximately $5,836,432.32. This represents a 9.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John W. Raymond sold 6,494 shares of the firm’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $26.16, for a total value of $169,883.04. Following the completion of the transaction, the director owned 37,114 shares of the company’s stock, valued at approximately $970,902.24. This represents a 14.89% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 171,122 shares of company stock valued at $4,148,906. Corporate insiders own 16.42% of the company’s stock.

Planet Labs PBC Trading Down 4.4%

Shares of PL stock opened at $19.51 on Thursday. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of -17.12 and a beta of 2.06. The company’s fifty day simple moving average is $31.57 and its two-hundred day simple moving average is $30.66. Planet Labs PBC has a 1 year low of $5.87 and a 1 year high of $51.76. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.81 and a quick ratio of 2.78.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings results on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $94.15 million during the quarter, compared to analyst estimates of $90.39 million. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.Planet Labs PBC’s revenue was up 42.1% compared to the same quarter last year. As a group, analysts anticipate that Planet Labs PBC will post -0.92 earnings per share for the current year.

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.