Vijaya Gadde Sells 20,000 Shares of Planet Labs PBC (NYSE:PL) Stock
by Kim Johansen · The Markets DailyPlanet Labs PBC (NYSE:PL – Get Free Report) Director Vijaya Gadde sold 20,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $26.77, for a total value of $535,400.00. Following the sale, the director owned 250,169 shares of the company’s stock, valued at $6,697,024.13. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Planet Labs PBC Stock Up 3.7%
Shares of NYSE PL traded up $0.96 during mid-day trading on Friday, reaching $27.02. The company had a trading volume of 14,816,450 shares, compared to its average volume of 15,313,716. The stock has a fifty day moving average of $18.14 and a two-hundred day moving average of $12.68. The company has a debt-to-equity ratio of 1.28, a quick ratio of 4.00 and a current ratio of 4.00. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of -64.33 and a beta of 1.94. Planet Labs PBC has a 12-month low of $2.79 and a 12-month high of $30.90.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in PL. MCF Advisors LLC acquired a new stake in Planet Labs PBC in the 3rd quarter worth approximately $32,000. Baillie Gifford & Co. bought a new position in shares of Planet Labs PBC in the fourth quarter valued at approximately $32,000. Larson Financial Group LLC bought a new position in shares of Planet Labs PBC in the third quarter valued at approximately $39,000. GAMMA Investing LLC lifted its stake in shares of Planet Labs PBC by 146.4% in the fourth quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock worth $40,000 after buying an additional 1,195 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Planet Labs PBC by 59.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,591 shares of the company’s stock worth $44,000 after buying an additional 1,337 shares during the period. 41.71% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have commented on PL. National Bankshares set a $12.30 target price on Planet Labs PBC in a research note on Tuesday, December 16th. The Goldman Sachs Group reiterated a “neutral” rating and set a $16.40 price target on shares of Planet Labs PBC in a report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a report on Wednesday, October 8th. Citizens Jmp lowered shares of Planet Labs PBC from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Planet Labs PBC in a research report on Thursday, December 11th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.64.
Get Our Latest Stock Analysis on PL
About Planet Labs PBC
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.