BNP Paribas Financial Markets Raises Position in Planet Labs PBC $PL

Key Points

• BNP Paribas Financial Markets sharply increased its stake in Planet Labs PBC by 2,046.9% in the fourth quarter, ending with 966,280 shares valued at about $19.1 million.
• Planet Labs recently reported better-than-expected quarterly results, with revenue of $94.15 million, up 42.1% year over year, and EPS of -$0.03, beating analyst estimates.
• The company also raised its full-year revenue outlook to $425 million-$441 million, though investors remain cautious amid dilution concerns from a large at-the-market stock program.

BNP Paribas Financial Markets grew its holdings in Planet Labs PBC (NYSE:PL - Free Report) by 2,046.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 966,280 shares of the company's stock after purchasing an additional 921,272 shares during the quarter. BNP Paribas Financial Markets owned about 0.31% of Planet Labs PBC worth $19,055,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC raised its position in shares of Planet Labs PBC by 671.1% during 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 during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Planet Labs PBC during the 1st quarter valued at approximately $189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Planet Labs PBC by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 130,798 shares of the company's stock valued at $442,000 after buying an additional 8,143 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Planet Labs PBC by 54.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company's stock valued at $6,274,000 after buying an additional 653,173 shares during the period. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of Planet Labs PBC during the 2nd quarter valued at approximately $121,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Planet Labs PBC Price Performance

Shares of NYSE:PL opened at $32.08 on Friday. The company has a 50-day simple moving average of $38.79 and a 200-day simple moving average of $27.63. Planet Labs PBC has a one year low of $4.90 and a one year high of $51.76. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.64 and a current ratio of 1.65. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of -28.14 and a beta of 1.99.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its earnings results on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 114.96%. The business had revenue of $94.15 million during the quarter, compared to analysts' expectations of $90.39 million. Planet Labs PBC's revenue was up 42.1% compared to the same quarter last year. On average, analysts predict that Planet Labs PBC will post -0.45 EPS for the current year.

Key Headlines Impacting Planet Labs PBC

Here are the key news stories impacting Planet Labs PBC this week:

• Positive Sentiment: Planet Labs posted record quarterly revenue of $94.2 million, above estimates, and said revenue rose 42% year over year, showing continued demand for its satellite imagery and data services. Planet Reports Financial Results for First Quarter of Fiscal Year 2027
• Positive Sentiment: The company also raised its full-year outlook, guiding FY2027 revenue to $425 million-$441 million, which was roughly in line to slightly above Wall Street expectations and reinforced confidence in growth momentum. Planet forecasts FY2027 revenue of $425M-$441M as it targets Rule of 40
• Positive Sentiment: Planet expanded its backlog and said defense and intelligence revenue grew more than 65% year over year, highlighting a healthy pipeline and stronger government demand. Planet Labs beats Q1 estimates as defense revenue surges, shares fall on outlook
• Positive Sentiment: Wedbush and Needham both reiterated constructive views, with price targets raised to $50 and $53 respectively, suggesting analysts still see meaningful upside from current levels. Why Is Planet Labs Stock Sinking Friday?
• Neutral Sentiment: Planet also extended its NGA partnership with an $22 million maritime surveillance contract, adding another government revenue stream and supporting longer-term visibility. Planet Labs Extends NGA Partnership With $22 Million Maritime Surveillance Contract
• Negative Sentiment: Shares are under pressure because investors are worried about dilution after Planet filed for a large at-the-market stock program, which could increase the share count over time. Planet Labs Launches $1.5 Billion ATM Stock Program
• Negative Sentiment: Some traders were also disappointed that full-year guidance and capital-allocation details did not appear aggressive enough, leading to a selloff despite the earnings beat. Wedbush makes a strong case for buying the dip in Planet Labs stock

Insider Transactions at Planet Labs PBC

In other news, CFO Ashley F. Johnson sold 200,000 shares of the business's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the transaction, the chief financial officer directly owned 1,895,162 shares in the company, valued at $66,520,186.20. The trade was a 9.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert H. Schingler sold 73,683 shares of the business's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the transaction, the insider owned 256,488 shares in the company, valued at approximately $8,995,034.16. This trade represents a 22.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PL shares. Zacks Research lowered shares of Planet Labs PBC from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 19th. Northland Securities set a $50.00 price target on shares of Planet Labs PBC in a research report on Friday. Citigroup lifted their price target on shares of Planet Labs PBC from $30.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft set a $38.00 price target on shares of Planet Labs PBC and gave the company a "buy" rating in a research report on Friday, March 27th. Finally, The Goldman Sachs Group lifted their price target on shares of Planet Labs PBC from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Monday, April 20th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $35.11.

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.

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