Cubist Systematic Strategies LLC Takes $830,000 Position in Planet Labs PBC $PL

Key Points

• Cubist Systematic Strategies LLC acquired 245,596 shares of Planet Labs PBC, valued at approximately $830,000, representing about 0.08% ownership at the end of the most recent quarter.
• Planet Labs PBC's stock opened at $9.02 and has seen a 6.6% decline recently, with a market capitalization of $2.74 billion.
• Despite a revenue increase of 20.1% year-over-year, the company reported an EPS of ($0.07), missing the consensus estimate and highlighting ongoing financial challenges.

Cubist Systematic Strategies 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 disclosure with the SEC. The firm purchased 245,596 shares of the company's stock, valued at approximately $830,000. Cubist Systematic Strategies LLC owned approximately 0.08% of Planet Labs PBC at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Planet Labs PBC in the 1st quarter valued at about $115,000. Rhumbline Advisers raised its position in Planet Labs PBC by 2.3% in the 1st quarter. Rhumbline Advisers now owns 293,950 shares of the company's stock valued at $994,000 after purchasing an additional 6,692 shares in the last quarter. Principal Financial Group Inc. raised its position in Planet Labs PBC by 1,316.8% in the 1st quarter. Principal Financial Group Inc. now owns 167,362 shares of the company's stock valued at $566,000 after purchasing an additional 155,549 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Planet Labs PBC by 48.9% in the 4th quarter. Deutsche Bank AG now owns 208,412 shares of the company's stock valued at $842,000 after acquiring an additional 68,465 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of Planet Labs PBC by 220.5% in the 1st quarter. Vontobel Holding Ltd. now owns 45,143 shares of the company's stock valued at $153,000 after acquiring an additional 31,057 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company's stock.

Wall Street Analyst Weigh In

PL has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on Planet Labs PBC in a report on Monday, June 30th. They issued a "neutral" rating and a $4.60 price objective on the stock. Wedbush increased their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Needham & Company LLC increased their price objective on Planet Labs PBC from $8.00 to $12.00 and gave the company a "buy" rating in a report on Tuesday. JMP Securities increased their price objective on Planet Labs PBC from $8.00 to $11.00 and gave the company a "market outperform" rating in a report on Tuesday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $8.50 price objective (up previously from $6.30) on shares of Planet Labs PBC in a report on Tuesday, June 24th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $7.56.

Planet Labs PBC Trading Up 0.9%

Shares of PL stock traded up $0.09 during midday trading on Friday, hitting $9.76. The company had a trading volume of 14,933,629 shares, compared to its average volume of 13,245,419. The company's 50 day simple moving average is $6.84 and its 200 day simple moving average is $5.07. Planet Labs PBC has a 52-week low of $2.02 and a 52-week high of $10.08.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its earnings results on Monday, September 8th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.25%. The company had revenue of $73.39 million during the quarter, compared to analysts' expectations of $65.88 million. During the same quarter last year, the business posted ($0.06) earnings per share. The company's revenue for the quarter was up 20.1% compared to the same quarter last year. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities analysts forecast that Planet Labs PBC will post -0.37 EPS for the current year.

Planet Labs PBC Profile

Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company's platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.