Algert Global LLC Sells 88,480 Shares of Planet Labs PBC $PL

Key Points

• Algert Global LLC has reduced its stake in Planet Labs PBC by 73.0%, owning 32,770 shares valued at approximately $111,000 after selling 88,480 shares.
• Several institutional investors have increased their positions in Planet Labs, with Vanguard Group Inc. raising its stake by 1.6% to own over 16 million shares.
• Analysts have given Planet Labs a Moderate Buy rating, with a price target increase from $6.30 to $8.50 by Cantor Fitzgerald.

Algert Global LLC trimmed its holdings in shares of Planet Labs PBC (NYSE:PL - Free Report) by 73.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,770 shares of the company's stock after selling 88,480 shares during the quarter. Algert Global LLC's holdings in Planet Labs PBC were worth $111,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PL. American Century Companies Inc. lifted its position in Planet Labs PBC by 11.9% during the first quarter. American Century Companies Inc. now owns 550,981 shares of the company's stock valued at $1,862,000 after purchasing an additional 58,763 shares during the period. Liontrust Investment Partners LLP boosted its position in Planet Labs PBC by 175.0% in the 1st quarter. Liontrust Investment Partners LLP now owns 1,066,133 shares of the company's stock valued at $3,604,000 after buying an additional 678,486 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings 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 purchasing an additional 7,799 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Planet Labs PBC during the 1st quarter worth $37,000. Finally, Nuveen LLC acquired a new position in Planet Labs PBC in the first quarter valued at $1,668,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Planet Labs PBC Stock Up 2.0%

Planet Labs PBC stock traded up $0.15 during midday trading on Thursday, hitting $7.23. 7,791,513 shares of the stock were exchanged, compared to its average volume of 5,405,033. The stock has a market capitalization of $2.19 billion, a PE ratio of -20.07 and a beta of 1.80. The company has a fifty day simple moving average of $6.46 and a two-hundred day simple moving average of $4.93. Planet Labs PBC has a 52 week low of $1.76 and a 52 week high of $7.72.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its earnings results on Wednesday, June 4th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $66.27 million for the quarter, compared to the consensus estimate of $62.25 million. Planet Labs PBC had a negative net margin of 42.58% and a negative return on equity of 23.36%. Planet Labs PBC has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities research analysts anticipate that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PL has been the topic of a number of research analyst reports. JMP Securities boosted their price objective on shares of Planet Labs PBC from $6.50 to $8.00 and gave the stock a "market outperform" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. The Goldman Sachs Group began coverage on shares of 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 raised their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Finally, Citigroup lifted their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $6.86.

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.