Polen Capital Management LLC Takes $2.20 Million Position in Planet Labs PBC $PL

Key Points

• Polen Capital Management disclosed a new fourth-quarter stake in Planet Labs PBC, buying 111,538 shares worth about $2.2 million.
• Institutional interest in Planet Labs remains significant, with hedge funds and other investors owning 41.71% of the stock. Several firms also boosted their holdings, including Nuveen and Deutsche Bank.
• Planet Labs reported quarterly results that beat expectations, with revenue up 42.1% year over year to $94.15 million and EPS of -$0.03 versus the -$0.04 consensus, though analysts still see the company posting a loss for the year.

Polen Capital Management LLC purchased a new stake in shares of Planet Labs PBC (NYSE:PL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 111,538 shares of the company's stock, valued at approximately $2,200,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Xponance LLC boosted its holdings in shares of Planet Labs PBC by 3.1% during the 4th quarter. Xponance LLC now owns 18,656 shares of the company's stock valued at $368,000 after acquiring an additional 555 shares during the last quarter. Nuveen LLC lifted its stake in shares of Planet Labs PBC by 48.6% in the 4th quarter. Nuveen LLC now owns 3,021,366 shares of the company's stock worth $59,581,000 after purchasing an additional 987,479 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Planet Labs PBC in the 4th quarter worth approximately $197,000. Deutsche Bank AG lifted its stake in shares of Planet Labs PBC by 209.3% in the 4th quarter. Deutsche Bank AG now owns 540,700 shares of the company's stock worth $10,663,000 after purchasing an additional 365,913 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of Planet Labs PBC by 218.2% in the 4th quarter. Cerity Partners LLC now owns 53,183 shares of the company's stock worth $1,049,000 after purchasing an additional 36,468 shares during the period. Hedge funds and other institutional investors own 41.71% of the company's stock.

Insider Buying and Selling

In other Planet Labs PBC news, CFO Ashley F. Johnson sold 200,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief financial officer owned 1,895,162 shares in the company, valued at approximately $66,520,186.20. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert H. Schingler sold 73,683 shares of the firm'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 transaction of $2,584,062.81. Following the sale, the insider owned 256,488 shares in the company, valued at approximately $8,995,034.16. The trade was a 22.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PL shares. Morgan Stanley increased their price objective on shares of Planet Labs PBC from $26.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 25th. Weiss Ratings cut shares of Planet Labs PBC from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, June 1st. Zacks Research cut shares of Planet Labs PBC from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 19th. Wedbush reiterated an "outperform" rating and issued a $50.00 price objective on shares of Planet Labs PBC in a research note on Friday, June 5th. Finally, New Street Research started coverage on shares of Planet Labs PBC in a research note on Wednesday, May 13th. They issued a "sell" rating and a $28.00 price objective on the stock. 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $35.28.

More Planet Labs PBC News

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

• Positive Sentiment: Planet Labs is benefiting from a surge in space-stock enthusiasm, with peers like Virgin Galactic and Rocket Lab also moving sharply higher as investors position ahead of SpaceX’s Friday IPO. Planet Labs Stock Skyrockets Ahead Of SpaceX's Friday IPO
• Positive Sentiment: Investor attention is also being supported by trading activity in Planet Labs call options, suggesting speculation around near-term upside in the stock. Traders Purchase Large Volume of Call Options on Planet Labs PBC NYSE: PL
• Neutral Sentiment: Planet Labs is drawing attention from analysts and media coverage after its recent earnings beat and strong revenue growth, reinforcing the company’s improving operating momentum. Analysts Offer Insights on Industrial Goods Companies: Bloom Energy (BE), Equifax (EFX) and Planet Labs PBC (PL)
• Neutral Sentiment: Planet Labs also highlighted its AIRS initiative, which links satellite data with sustainability use cases; while strategically positive, it is not an immediate earnings catalyst. Planet Labs Uses AIRS Initiative To Link Satellite Data With Sustainability
• Negative Sentiment: Northland Securities trimmed several future earnings estimates for Planet Labs, reflecting a more cautious longer-term profit outlook and potentially tempering enthusiasm. Analysts Offer Insights on Industrial Goods Companies: Bloom Energy (BE), Equifax (EFX) and Planet Labs PBC (PL)

Planet Labs PBC Price Performance

NYSE PL opened at $34.25 on Friday. Planet Labs PBC has a 12 month low of $4.90 and a 12 month high of $51.76. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of -30.04 and a beta of 1.99. The company's 50 day moving average is $38.98 and its two-hundred day moving average is $28.33. 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 earnings results on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, topping 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 105.29%. The company had revenue of $94.15 million for the quarter, compared to analysts' expectations of $90.39 million. The business's revenue was up 42.1% on a year-over-year basis. As a group, research analysts anticipate that Planet Labs PBC will post -0.81 earnings per share for the current year.

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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