Dimensional Fund Advisors LP Has $112.17 Million Position in Planet Labs PBC $PL

Dimensional Fund Advisors LP raised its stake in Planet Labs PBC (NYSE:PL - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,013,187 shares of the company's stock after buying an additional 70,986 shares during the quarter. Dimensional Fund Advisors LP owned 1.16% of Planet Labs PBC worth $112,167,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PL. American Capital Advisory LLC purchased a new position in shares of Planet Labs PBC during the 1st quarter valued at $28,000. Parkside Financial Bank & Trust raised its holdings in shares of Planet Labs PBC by 92.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company's stock worth $31,000 after acquiring an additional 745 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in Planet Labs PBC during the fourth quarter valued at $32,000. Pittenger & Anderson Inc. boosted its position in Planet Labs PBC by 40.9% during the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company's stock valued at $38,000 after purchasing an additional 395 shares during the last quarter. Finally, Larson Financial Group LLC purchased a new position in Planet Labs PBC in the third quarter valued at about $39,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

Insiders Place Their Bets

In other news, Director John W. Raymond sold 6,494 shares of the stock in a transaction on Monday, July 13th. The shares were sold at an average price of $26.16, for a total value of $169,883.04. Following the completion of the transaction, the director owned 37,114 shares in the company, valued at approximately $970,902.24. This represents a 14.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ashley F. Johnson sold 75,035 shares of the stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $22.08, for a total transaction of $1,656,772.80. Following the completion of the transaction, the chief financial officer owned 1,132,122 shares of the company's stock, valued at approximately $24,997,253.76. This represents a 6.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 171,122 shares of company stock worth $4,148,906 over the last 90 days. Corporate insiders own 16.42% of the company's stock.

Planet Labs PBC Price Performance

Shares of PL stock opened at $20.42 on Wednesday. Planet Labs PBC has a 12 month low of $5.87 and a 12 month high of $51.76. The company has a market capitalization of $7.28 billion, a P/E ratio of -17.91 and a beta of 2.06. The stock has a 50 day moving average of $32.03 and a two-hundred day moving average of $30.68. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 1.01.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. The business had revenue of $94.15 million for the quarter, compared to analysts' expectations of $90.39 million. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The firm's quarterly revenue was up 42.1% on a year-over-year basis. As a group, equities analysts expect that Planet Labs PBC will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PL. Zacks Research raised Planet Labs PBC from a "strong sell" rating to a "hold" rating in a research report on Thursday, July 2nd. Northland Securities set a $50.00 price target on shares of Planet Labs PBC in a research report on Friday, June 5th. Craig Hallum lifted their price objective on Planet Labs PBC from $36.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, June 5th. Weiss Ratings upgraded shares of Planet Labs PBC from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 15th. Finally, Needham & Company LLC boosted their price objective on shares of Planet Labs PBC from $40.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, June 5th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Planet Labs PBC presently has an average rating of "Hold" and a consensus price target of $35.36.

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.

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