43,374 Planet Labs PBC $PL Shares Purchased by Vontobel Holding Ltd.

by · The Cerbat Gem

Vontobel Holding Ltd. increased its stake in shares of Planet Labs PBC (NYSE:PL – Free Report) by 111.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 82,405 shares of the company’s stock after acquiring an additional 43,374 shares during the quarter. Vontobel Holding Ltd.’s holdings in Planet Labs PBC were worth $1,351,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Fortitude Family Office LLC increased its holdings in Planet Labs PBC by 3,035.0% in the 3rd quarter. Fortitude Family Office LLC now owns 2,508 shares of the company’s stock valued at $41,000 after acquiring an additional 2,428 shares during the last quarter. Catalyst Private Wealth LLC purchased a new stake in Planet Labs PBC in the 3rd quarter worth $342,000. Mirador Capital Partners LP lifted its stake in Planet Labs PBC by 6.2% in the 3rd quarter. Mirador Capital Partners LP now owns 12,910 shares of the company’s stock worth $212,000 after purchasing an additional 753 shares in the last quarter. Green Alpha Advisors LLC purchased a new stake in Planet Labs PBC in the 3rd quarter worth $835,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Planet Labs PBC by 25.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,754 shares of the company’s stock valued at $176,000 after purchasing an additional 2,148 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Planet Labs PBC Price Performance

Shares of PL stock opened at $13.62 on Tuesday. Planet Labs PBC has a 52-week low of $10.52 and a 52-week high of $51.76. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.82 and a current ratio of 2.84. The firm has a market capitalization of $4.96 billion, a P/E ratio of -12.39 and a beta of 2.17. The stock has a 50 day moving average price of $18.50 and a 200 day moving average price of $27.85.

Planet Labs PBC (NYSE:PL – Get Free Report) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.04. Planet Labs PBC had a negative return on equity of 93.11% and a negative net margin of 95.13%. The company had revenue of $116.05 million for the quarter, compared to the consensus estimate of $104.53 million. During the same quarter in the prior year, the company posted ($0.07) EPS. Planet Labs PBC’s quarterly revenue was up 58.2% on a year-over-year basis. As a group, sell-side analysts predict that Planet Labs PBC will post -0.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PL. The Goldman Sachs Group raised their price objective on Planet Labs PBC from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Planet Labs PBC in a report on Friday, September 11th. Berenberg Bank started coverage on Planet Labs PBC in a research report on Wednesday, September 2nd. They issued a “buy” rating and a $25.00 target price on the stock. Citigroup downgraded Planet Labs PBC from a “market perform” rating to a “hold” rating in a research report on Friday, September 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $28.00 price target on shares of Planet Labs PBC in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.33.

View Our Latest Report on PL

Insider Activity

In related news, Director Kristen Robinson sold 40,000 shares of the firm’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $14.14, for a total value of $565,600.00. Following the transaction, the director owned 182,897 shares of the company’s stock, valued at $2,586,163.58. This trade represents a 17.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert H. Schingler sold 52,240 shares of Planet Labs PBC stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $16.96, for a total transaction of $885,990.40. Following the sale, the insider owned 170,171 shares of the company’s stock, valued at $2,886,100.16. The trade was a 23.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 240,932 shares of company stock valued at $4,338,761. Insiders own 16.42% of the company’s stock.

About Planet Labs PBC

(Free Report)

Planet Labs PBC is a space and data analytics company that operates a large fleet of Earth-observation satellites. The company captures frequently updated imagery of land and coastal areas worldwide, helping organizations monitor changes and make decisions based on current geospatial information.

Planet’s product portfolio includes PlanetScope, which provides high-frequency satellite imagery, and SkySat, which offers higher-resolution imagery for more detailed analysis. The company also develops specialized satellite and data products, including hyperspectral capabilities, and provides cloud-based platforms, application programming interfaces and analytical tools that allow customers to access, analyze and integrate geospatial data into their own workflows.

Its customers and partners include businesses, governments, researchers and nonprofit organizations in areas such as agriculture, mapping, forestry, energy, infrastructure, insurance, defense and climate monitoring.

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