Raiffeisen Bank International AG Buys 80,000 Shares of Planet Labs PBC $PL

Key Points

• Raiffeisen Bank International increased its Planet Labs stake by 36.7%, buying 80,000 shares to hold 298,000 shares worth approximately $9.3 million. Institutional investors collectively own 41.71% of the company.
• Planet Labs reported strong second-quarter operating results, with revenue rising 58.2% year over year to $116.05 million and adjusted EPS of $0.02, beating expectations for a loss. However, the company remains unprofitable, with a negative net margin of 111.17%.
• The stock opened at $18.42, well below its 52-week high of $51.76, while analysts maintain a consensus “Hold” rating and a $34.56 price target. Near-term sentiment is pressured by below-consensus third-quarter revenue guidance and recent insider selling.

Raiffeisen Bank International AG grew its stake in Planet Labs PBC (NYSE:PL - Free Report) by 36.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,000 shares of the company's stock after buying an additional 80,000 shares during the period. Raiffeisen Bank International AG owned approximately 0.08% of Planet Labs PBC worth $9,321,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pittenger & Anderson Inc. lifted its holdings in shares of Planet Labs PBC by 40.9% during the 1st quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company's stock worth $38,000 after acquiring an additional 395 shares during the last quarter. Wellington Shields & Co. LLC grew its position in Planet Labs PBC by 2.8% in the fourth quarter. Wellington Shields & Co. LLC now owns 15,776 shares of the company's stock worth $311,000 after acquiring an additional 435 shares in the last quarter. Xponance LLC increased its stake in Planet Labs PBC by 3.1% in the fourth 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. KBC Group NV increased its stake in Planet Labs PBC by 7.1% in the first quarter. KBC Group NV now owns 9,985 shares of the company's stock valued at $279,000 after acquiring an additional 661 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its position in Planet Labs PBC by 2.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 33,090 shares of the company's stock valued at $653,000 after purchasing an additional 690 shares in the last quarter. Institutional investors own 41.71% of the company's stock.

Planet Labs PBC Price Performance

Shares of NYSE:PL opened at $18.42 on Friday. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 1.01. The stock has a market cap of $6.56 billion, a PE ratio of -16.16 and a beta of 2.10. The company's fifty day moving average is $23.84 and its 200 day moving average is $30.12. 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 posted its quarterly earnings results on Thursday, September 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.04. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The business had revenue of $116.05 million during the quarter, compared to analyst estimates of $104.53 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The company's revenue was up 58.2% on a year-over-year basis. Research analysts anticipate that Planet Labs PBC will post -0.92 earnings per share for the current year.

Insider Activity

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Northland Securities set a $50.00 price target on Planet Labs PBC in a research note on Friday, June 5th. New Street Research assumed coverage on Planet Labs PBC in a research report on Wednesday, May 13th. They set a "sell" rating and a $28.00 price objective on the stock. Berenberg Bank began coverage on Planet Labs PBC in a report on Wednesday. They set a "buy" rating and a $25.00 price objective on the stock. The Goldman Sachs Group boosted their target price on Planet Labs PBC from $22.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings raised Planet Labs PBC from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 15th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $34.56.

More Planet Labs PBC News

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

• Positive Sentiment: Planet reported record second-quarter revenue of $116.1 million, up 58% year over year, marking its fourth consecutive quarter meeting or exceeding the Rule of 40. Planet Reports Financial Results for Second Quarter of Fiscal Year 2027
• Positive Sentiment: Planet signed a seven-figure agreement with a European defense and intelligence customer, reinforcing demand for its satellite imagery and analytics in government and defense markets. Planet Signs 7-Figure Agreement with European Defense and Intelligence Customer
• Positive Sentiment: On an adjusted basis, Planet posted earnings of $0.02 per share, versus analysts’ expected loss of $0.02, while the company’s full-year revenue outlook of $430 million to $441 million is broadly consistent with the $436.3 million consensus estimate. Planet Labs Tops Q2 Earnings and Revenue Estimates
• Neutral Sentiment: Berenberg initiated or reiterated a Buy rating, providing analyst support, although the rating may be overshadowed by the company’s guidance and broader weakness in space-related stocks. Planet Labs Gets a Buy from Berenberg Bank
• Negative Sentiment: Planet’s third-quarter revenue outlook of $101 million to $105 million is well below the $114.3 million consensus estimate, raising concerns about a near-term growth slowdown.
• Negative Sentiment: Reported GAAP results showed a $0.03-per-share loss, slightly worse than the $0.02 expected loss, with profitability still weak. The combination of the earnings shortfall and below-consensus quarterly guidance likely drove the selling pressure. Planet Labs Earnings Results
• Negative Sentiment: Shares also faced sector-wide selling among commercial space and satellite companies, limiting the positive impact of Planet’s defense announcement. Planet Labs Sinks Despite New Defense Contract

About Planet Labs PBC

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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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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