Castleark Management LLC Has $7.68 Million Position in Planet Labs PBC $PL

Key Points

• Castleark Management LLC increased its stake in Planet Labs PBC by 27.6% in the fourth quarter, ending with 389,470 shares valued at about $7.68 million.
• Planet Labs reported quarterly earnings of ($0.03) per share, beating expectations, while revenue rose 42.1% year over year to $94.15 million.
• Analyst sentiment remains mixed: the stock has a Hold consensus rating with an average price target of $35.28, even as several firms updated targets and some insiders sold shares.

Castleark Management LLC boosted its stake in shares of Planet Labs PBC (NYSE:PL - Free Report) by 27.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 389,470 shares of the company's stock after acquiring an additional 84,210 shares during the quarter. Castleark Management LLC owned 0.12% of Planet Labs PBC worth $7,680,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Brooklyn Investment Group raised its stake in Planet Labs PBC by 13.2% during the fourth quarter. Brooklyn Investment Group now owns 25,360 shares of the company's stock worth $504,000 after acquiring an additional 2,961 shares in the last quarter. Orion Porfolio Solutions LLC acquired a new position in Planet Labs PBC during the fourth quarter worth $1,853,000. Cibc World Markets Corp acquired a new position in Planet Labs PBC during the fourth quarter worth $311,000. Commonwealth Equity Services LLC acquired a new position in Planet Labs PBC during the fourth quarter worth $274,000. Finally, Groupe la Francaise acquired a new position in Planet Labs PBC during the fourth quarter worth $246,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Price Performance

Shares of PL opened at $31.16 on Friday. Planet Labs PBC has a 1 year low of $4.90 and a 1 year high of $51.76. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 1.01. The stock has a market cap of $11.11 billion, a P/E ratio of -27.34 and a beta of 1.99. The stock's 50-day moving average price is $38.99 and its two-hundred day moving average price is $28.35.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The business had revenue of $94.15 million for the quarter, compared to analysts' expectations of $90.39 million. The business's revenue for the quarter was up 42.1% compared to the same quarter last year. On average, equities analysts predict that Planet Labs PBC will post -0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Northland Securities set a $50.00 price objective on Planet Labs PBC in a research note on Friday, June 5th. Deutsche Bank Aktiengesellschaft set a $38.00 price objective on Planet Labs PBC and gave the stock a "buy" rating in a research note on Friday, March 27th. Morgan Stanley raised their target price on Planet Labs PBC from $26.00 to $35.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 25th. New Street Research began coverage on Planet Labs PBC in a research note on Wednesday, May 13th. They issued a "sell" rating and a $28.00 target price for the company. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $22.00 target price on shares of Planet Labs PBC in a research note on Thursday. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Planet Labs PBC presently has a consensus rating of "Hold" and an average price target of $35.28.

Insider Buying and Selling

In other Planet Labs PBC news, CFO Ashley F. Johnson sold 200,000 shares of the business's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the transaction, the chief financial officer owned 1,895,162 shares of the company's stock, valued at $66,520,186.20. The trade was a 9.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert H. Schingler sold 73,683 shares of the business's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $35.07, for a total value of $2,584,062.81. Following the transaction, the insider directly owned 256,488 shares in the company, valued at $8,995,034.16. This trade represents a 22.32% decrease in their position. 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. 16.42% of the stock is currently owned by company insiders.

Key Stories Impacting Planet Labs PBC

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

• Positive Sentiment: Planet Labs is benefiting from a broad rally in space-related stocks as investors rotate into the sector ahead of SpaceX’s highly anticipated IPO. Planet Labs Stock Skyrockets Ahead Of SpaceX's Friday IPO
• Positive Sentiment: Recent commentary says Planet Labs’ strong results and fresh catalysts could offer upside as investors position for the second half of 2025. 3 Stocks With Fresh Catalysts to Watch Before July 4 (PL)
• Positive Sentiment: Planet Labs is using its AIRS initiative to connect satellite data with sustainability use cases, which could expand commercial opportunities over time. Planet Labs Uses AIRS Initiative To Link Satellite Data With Sustainability
• Neutral Sentiment: Analyst note activity included mixed estimate changes from Northland Securities, reflecting some near-term uncertainty but no major change in the longer-term story. Analysts Offer Insights on Industrial Goods Companies: Bloom Energy (BE), Equifax (EFX) and Planet Labs PBC (PL)
• Negative Sentiment: Northland Securities lowered some future EPS estimates for Planet Labs, which could weigh on sentiment by highlighting continued profitability challenges. Analyst estimate updates for Planet Labs PBC (PL)

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.

Want to see what other hedge funds are holding PL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Labs PBC (NYSE:PL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.