106,381 Shares in Planet Labs PBC $PL Purchased by Calamos Advisors LLC

Key Points

• Calamos Advisors LLC disclosed a new first-quarter stake in Planet Labs PBC, buying 106,381 shares valued at about $2.97 million. Other institutions also added to or increased positions, and institutional ownership now stands at 41.71%.
• Insiders have been selling shares recently, including Director John W. Raymond and insider Robert H. Schingler. Collectively, insiders sold 96,087 shares worth about $2.49 million over the last three months.
• Planet Labs reported quarterly results that beat expectations, posting ($0.03) EPS versus an expected loss of $0.04 and revenue of $94.15 million, up 42.1% year over year. Despite the growth, the stock was down 2.6% and analysts’ consensus rating remains Hold with a target price of $35.36.

Calamos Advisors LLC purchased a new stake in Planet Labs PBC (NYSE:PL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 106,381 shares of the company's stock, valued at approximately $2,973,000.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in Planet Labs PBC by 671.1% in the 1st quarter. AQR Capital Management LLC now owns 92,693 shares of the company's stock valued at $313,000 after buying an additional 80,672 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Planet Labs PBC in the first quarter valued at about $189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Planet Labs PBC by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 130,798 shares of the company's stock valued at $442,000 after acquiring an additional 8,143 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Planet Labs PBC by 54.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company's stock valued at $6,274,000 after acquiring an additional 653,173 shares in the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new position in shares of Planet Labs PBC in the second quarter valued at about $121,000. 41.71% of the stock is owned by institutional investors.

Insider Transactions at Planet Labs PBC

In other news, Director John W. Raymond sold 6,494 shares of the firm's stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $26.16, for a total value of $169,883.04. Following the sale, the director directly owned 37,114 shares in the company, valued at approximately $970,902.24. This trade represents a 14.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert H. Schingler sold 64,593 shares of the company's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $25.92, for a total transaction of $1,674,250.56. Following the transaction, the insider owned 825,541 shares of the company's stock, valued at approximately $21,398,022.72. This represents a 7.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 96,087 shares of company stock valued at $2,492,134 in the last three months. Company insiders own 16.42% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PL shares. Morgan Stanley increased their target price on shares of Planet Labs PBC from $26.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $36.00 price target on shares of Planet Labs PBC in a research report on Monday, June 15th. Weiss Ratings upgraded Planet Labs PBC from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 15th. Craig Hallum increased their price target on Planet Labs PBC from $36.00 to $49.00 and gave the stock a "buy" rating in a research report on Friday, June 5th. Finally, Cantor Fitzgerald raised 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. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $35.36.

Planet Labs PBC Stock Down 2.6%

NYSE PL opened at $24.90 on Thursday. The business has a fifty day moving average price of $35.40 and a two-hundred day moving average price of $30.60. The stock has a market capitalization of $8.88 billion, a PE ratio of -21.85 and a beta of 2.06. Planet Labs PBC has a fifty-two week low of $5.87 and a fifty-two week 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 - Get Free Report) last issued its quarterly earnings results on Thursday, June 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company had revenue of $94.15 million for 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%.The company's revenue was up 42.1% on a year-over-year basis. Equities analysts expect that Planet Labs PBC will post -0.92 earnings per share 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.

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