FirstWave Capital Management LLC Purchases Shares of 65,849 Planet Labs PBC $PL

Key Points

• FirstWave Capital Management acquired 65,849 Planet Labs shares worth approximately $2.18 million, while institutional investors collectively own 41.71% of the company.
• Planet Labs reported record fiscal Q2 revenue of $116.1 million, up 58% year over year and above estimates, while adjusted EPS of $0.02 beat expectations. Management also raised fiscal 2027 guidance and cited a satellite-services pipeline exceeding $4 billion.
• Despite strong quarterly results and generally improving analyst sentiment, fiscal Q3 revenue guidance of $101 million to $105 million fell below consensus. Analysts maintain a consensus “Hold” rating with an average price target of $31.72.

FirstWave Capital Management LLC acquired a new stake in shares of Planet Labs PBC (NYSE:PL - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 65,849 shares of the company's stock, valued at approximately $2,182,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Capital Advisory LLC bought a new stake in shares of Planet Labs PBC in the 1st quarter worth $28,000. Western Wealth Management LLC acquired a new stake in Planet Labs PBC during the first quarter valued at approximately $28,000. Parkside Financial Bank & Trust boosted its holdings in 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 buying an additional 745 shares in the last quarter. Pittenger & Anderson Inc. increased its holdings in shares of Planet Labs PBC by 40.9% in the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company's stock valued at $38,000 after buying an additional 395 shares in the last quarter. Finally, Larson Financial Group LLC bought a new stake in shares of Planet Labs PBC during the 3rd quarter worth $39,000. Institutional investors own 41.71% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PL. Citizens Jmp reaffirmed a "market perform" rating on shares of Planet Labs PBC in a report on Friday. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $36.00 price target on shares of Planet Labs PBC in a research note on Monday, June 15th. Craig Hallum set a $35.00 price objective on shares of Planet Labs PBC in a research note on Friday. The Goldman Sachs Group raised their target price on shares of Planet Labs PBC from $22.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Finally, Needham & Company LLC cut their price target on shares of Planet Labs PBC from $53.00 to $40.00 and set a "buy" rating on the stock in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Planet Labs PBC currently has a consensus rating of "Hold" and a consensus price target of $31.72.

Key Stories Impacting Planet Labs PBC

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

• Positive Sentiment: Planet posted record fiscal Q2 revenue of $116.1 million, up 58% year over year and well above the $104.5 million consensus estimate. Adjusted earnings of $0.02 per share also exceeded expectations for a $0.02 loss. Planet Reports Financial Results for Second Quarter of Fiscal Year 2027
• Positive Sentiment: Management raised fiscal 2027 guidance and highlighted a satellite-services pipeline exceeding $4 billion, along with accelerating investment in its Owl satellite initiative. These developments support the longer-term growth case. PL Q2 Earnings Call Highlights Satellite Services Expansion
• Positive Sentiment: Planet announced a seven-figure agreement with a European defense and intelligence customer, adding to investor interest in its government and defense business. Planet Signs 7-Figure Agreement with European Defense and Intelligence Customer
• Positive Sentiment: Analyst sentiment improved: Berenberg upgraded Planet to “strong buy,” while Needham maintained a Buy rating despite reducing its price target to $40.
• Neutral Sentiment: New Street Research upgraded PL from Sell to Neutral with a $22 price target, and Citizens JMP reaffirmed its Market Perform rating, signaling improving but still cautious sentiment. New Street Upgrades Planet Labs PBC to Neutral From Sell
• Negative Sentiment: Fiscal Q3 revenue guidance of $101 million-$105 million was below the approximately $114 million analyst consensus. The weaker near-term outlook may be prompting selling despite the Q2 beat.

Planet Labs PBC Price Performance

NYSE PL opened at $18.12 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.81 and a quick ratio of 2.78. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of -16.47 and a beta of 2.10. The company has a 50 day simple moving average of $23.66 and a 200-day simple moving average of $30.03. Planet Labs PBC has a 52-week low of $6.26 and a 52-week high of $51.76.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. The firm had revenue of $116.05 million for the quarter, compared to analyst estimates of $104.53 million. Planet Labs PBC had a negative net margin of 95.13% and a negative return on equity of 109.97%. The company's revenue for the quarter was up 58.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) EPS. Equities research analysts predict that Planet Labs PBC will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Planet Labs PBC

In related news, CFO Ashley Johnson sold 75,035 shares of the stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total transaction of $1,656,772.80. Following the completion of the sale, the chief financial officer directly owned 1,132,122 shares in the company, valued at approximately $24,997,253.76. This trade represents a 6.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Schingler sold 64,593 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $25.92, for a total value of $1,674,250.56. Following the sale, the insider owned 825,541 shares of the company's stock, valued at approximately $21,398,022.72. This represents a 7.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 171,122 shares of company stock valued at $4,148,906. 16.42% of the stock is owned by insiders.

Planet Labs PBC Company 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.

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.

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