Cubist Systematic Strategies LLC Takes 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 bought a new stake in Planet Labs PBC (NYSE:PL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 245,596 shares of the company's stock, valued at approximately $830,000. Cubist Systematic Strategies LLC owned 0.08% of Planet Labs PBC as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HighTower Advisors LLC acquired a new stake in shares of Planet Labs PBC in the 1st quarter valued at $37,000. Forum Financial Management LP acquired a new stake in shares of Planet Labs PBC in the 1st quarter valued at $39,000. Wellington Shields & Co. LLC acquired a new stake in shares of Planet Labs PBC in the 1st quarter valued at $39,000. Mackenzie Financial Corp increased its stake in shares of Planet Labs PBC by 32.1% in the 1st quarter. Mackenzie Financial Corp now owns 13,364 shares of the company's stock valued at $45,000 after buying an additional 3,245 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Planet Labs PBC by 143.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 13,249 shares of the company's stock valued at $45,000 after buying an additional 7,799 shares during the period. 41.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wall Street Zen raised Planet Labs PBC from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $8.50 price objective (up from $6.30) on shares of Planet Labs PBC in a research note on Tuesday, June 24th. Needham & Company LLC lifted their price objective on Planet Labs PBC from $8.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, September 9th. Citigroup reaffirmed an "outperform" rating on shares of Planet Labs PBC in a research note on Tuesday, September 9th. Finally, The Goldman Sachs Group initiated coverage on Planet Labs PBC in a research note on Monday, June 30th. They set a "neutral" rating and a $4.60 price objective for the company. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $7.56.

Planet Labs PBC Stock Performance

PL stock traded up $0.04 during midday trading on Monday, hitting $9.82. 11,061,866 shares of the company's stock were exchanged, compared to its average volume of 13,729,728. The company has a market cap of $3.02 billion, a PE ratio of -32.74 and a beta of 1.81. The stock's fifty day moving average price is $6.96 and its 200-day moving average price is $5.15. Planet Labs PBC has a one year low of $2.02 and a one year high of $10.11.

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

Planet Labs PBC Company 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.