28,118 Shares in Planet Labs PBC $PL Acquired by Osbon Capital Management LLC

Osbon Capital Management LLC bought a new position in Planet Labs PBC (NYSE:PL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 28,118 shares of the company’s stock, valued at approximately $554,000.

Other hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in Planet Labs PBC by 320.3% during the fourth quarter. Van ECK Associates Corp now owns 7,678,938 shares of the company’s stock valued at $151,429,000 after acquiring an additional 5,851,758 shares during the last quarter. Barclays PLC grew its stake in shares of Planet Labs PBC by 758.1% during the 3rd quarter. Barclays PLC now owns 3,727,743 shares of the company’s stock valued at $48,386,000 after purchasing an additional 3,293,333 shares during the period. Invesco Ltd. lifted its stake in shares of Planet Labs PBC by 265.6% in the 3rd quarter. Invesco Ltd. now owns 3,450,479 shares of the company’s stock worth $44,787,000 after purchasing an additional 2,506,595 shares during the period. Two Sigma Investments LP boosted its holdings in shares of Planet Labs PBC by 257.5% in the third quarter. Two Sigma Investments LP now owns 2,362,275 shares of the company’s stock worth $30,662,000 after buying an additional 1,701,535 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Planet Labs PBC by 9.7% in the third quarter. Vanguard Group Inc. now owns 18,551,697 shares of the company’s stock worth $240,801,000 after buying an additional 1,637,880 shares during the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Planet Labs PBC

In other Planet Labs PBC news, CFO Ashley F. Johnson sold 200,000 shares of Planet Labs PBC 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 transaction, the chief financial officer directly owned 1,895,162 shares of the company’s stock, valued at $66,520,186.20. This trade represents a 9.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert H. Schingler sold 73,683 shares of the business’s stock in a transaction dated Monday, April 6th. The stock was 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 owned 256,488 shares in the company, valued at approximately $8,995,034.16. This trade represents a 22.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PL shares. Needham & Company LLC boosted their price objective on shares of Planet Labs PBC from $40.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Northland Securities set a $50.00 price objective on Planet Labs PBC in a research report on Friday, June 5th. Cantor Fitzgerald raised their target price on shares of Planet Labs PBC from $20.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. Zacks Research cut shares of Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Finally, Craig Hallum raised their price objective on shares of Planet Labs PBC from $36.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.11.

Planet Labs PBC Trading Down 0.2%

Shares of Planet Labs PBC stock opened at $28.18 on Friday. Planet Labs PBC has a twelve month low of $4.90 and a twelve month 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 business has a 50-day moving average price of $38.29 and a 200-day moving average price of $28.94. The firm has a market cap of $10.04 billion, a price-to-earnings ratio of -24.72 and a beta of 1.99.

Planet Labs PBC (NYSE:PL) last posted its 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 company had revenue of $94.15 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 42.1% compared to the same quarter last year. Equities research analysts anticipate that Planet Labs PBC will post -0.81 EPS for the current fiscal 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.