Planet Labs PBC $PL Shares Bought by Conestoga Capital Advisors LLC

Key Points

• Conestoga Capital Advisors LLC increased its stake in Planet Labs PBC by 13.1%, holding 427,365 shares valued at approximately $2.6 million as of the recent SEC filing.
• Analysts have varied opinions on Planet Labs PBC, with Needham & Company raising its target price from $8.00 to $12.00, while Weiss Ratings issued a "sell" rating.
• Planet Labs PBC reported a revenue of $73.39 million for the quarter, exceeding expectations, but missed earnings per share estimates, reporting ($0.07) compared to a consensus estimate of ($0.04).

Conestoga Capital Advisors LLC raised its holdings in Planet Labs PBC (NYSE:PL - Free Report) by 13.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 427,365 shares of the company's stock after purchasing an additional 49,615 shares during the period. Conestoga Capital Advisors LLC owned about 0.14% of Planet Labs PBC worth $2,607,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PL. Liontrust Investment Partners LLP raised its position in shares of 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 purchasing an additional 678,486 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Planet Labs PBC by 54.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company's stock valued at $6,274,000 after purchasing an additional 653,173 shares in the last quarter. Nuveen LLC acquired a new position in shares of Planet Labs PBC in the 1st quarter valued at approximately $1,668,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Planet Labs PBC by 144.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 709,657 shares of the company's stock valued at $2,399,000 after purchasing an additional 419,773 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Planet Labs PBC by 41.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,323,263 shares of the company's stock valued at $4,473,000 after purchasing an additional 389,375 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Robert H. Schingler sold 81,656 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $15.50, for a total value of $1,265,668.00. Following the completion of the transaction, the insider owned 1,288,843 shares of the company's stock, valued at approximately $19,977,066.50. This represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 17.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PL shares. Needham & Company LLC upped their target price on Planet Labs PBC from $8.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Planet Labs PBC in a research report on Wednesday, October 8th. The Goldman Sachs Group initiated coverage on Planet Labs PBC in a research report on Monday, June 30th. They set a "neutral" rating and a $4.60 price target on the stock. Wedbush increased their target price on Planet Labs PBC from $11.00 to $17.00 and gave the stock an "outperform" rating in a research report on Thursday, October 2nd. Finally, JMP Securities increased their target price on Planet Labs PBC from $8.00 to $11.00 and gave the stock a "market outperform" rating in a research report on Tuesday, September 9th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Planet Labs PBC has an average rating of "Moderate Buy" and an average price target of $9.71.

Planet Labs PBC Price Performance

Shares of NYSE PL opened at $13.11 on Monday. Planet Labs PBC has a 1-year low of $2.18 and a 1-year high of $16.78. The business's fifty day moving average price is $10.22 and its two-hundred day moving average price is $6.72. The firm has a market capitalization of $4.04 billion, a PE ratio of -43.68 and a beta of 1.99.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings results on Monday, September 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Planet Labs PBC had a negative return on equity of 20.25% and a negative net margin of 34.46%.The business had revenue of $73.39 million during the quarter, compared to the consensus estimate of $65.88 million. During the same period in the previous year, the company posted ($0.06) EPS. The company's revenue for the quarter was up 20.1% compared to the same quarter last year. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities research analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

About Planet Labs PBC

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.

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