Planet Labs PBC (NYSE:PL) Stock: Insider Ita Brennan Sells 11,500 Shares

Key Points

• Director Ita Brennan sold 11,500 Planet Labs shares at an average price of $16.30, generating $187,450. After the sale, Brennan retained 250,373 shares, a 4.39% reduction in their position.
• Planet Labs shares traded at $17.51, with the stock down substantially from its 52-week high of $51.76. The company has a $6.37 billion market capitalization and remains unprofitable, with a negative net margin of 95.13%.
• The company beat quarterly earnings and revenue expectations, reporting $0.02 EPS and $116.05 million in revenue, up 58.2% year over year. Analysts’ consensus rating is “Hold”, with an average price target of $32.77.

Planet Labs PBC (NYSE:PL - Get Free Report) Director Ita Brennan sold 11,500 shares of the business's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $16.30, for a total transaction of $187,450.00. Following the completion of the sale, the director directly owned 250,373 shares of the company's stock, valued at approximately $4,081,079.90. The trade was a 4.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Planet Labs PBC Price Performance

Shares of Planet Labs PBC stock traded up $1.37 during mid-day trading on Friday, reaching $17.51. 14,918,873 shares of the stock traded hands, compared to its average volume of 12,089,475. The stock has a market capitalization of $6.37 billion, a PE ratio of -15.92 and a beta of 2.17. The business has a 50-day moving average of $19.83 and a 200 day moving average of $29.01. Planet Labs PBC has a fifty-two week low of $10.52 and a fifty-two week high of $51.76. The company has a quick ratio of 2.82, a current ratio of 2.84 and a debt-to-equity ratio of 0.79.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. Planet Labs PBC had a negative return on equity of 93.11% and a negative net margin of 95.13%.The firm had revenue of $116.05 million during the quarter, compared to analysts' expectations of $104.53 million. During the same period in the previous year, the business earned ($0.07) earnings per share. The firm's revenue for the quarter was up 58.2% on a year-over-year basis. On average, analysts predict that Planet Labs PBC will post -0.91 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PL shares. The Goldman Sachs Group upped 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. Berenberg Bank began coverage on shares of Planet Labs PBC in a research report on Wednesday, September 2nd. They set a "buy" rating and a $25.00 price target on the stock. Wedbush initiated coverage on shares of Planet Labs PBC in a research note on Wednesday, July 1st. They set an "outperform" rating and a $50.00 price objective for the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $28.00 price objective on shares of Planet Labs PBC in a research note on Tuesday, September 8th. Finally, Citizens Jmp reissued a "market perform" rating on shares of Planet Labs PBC in a research note on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $32.77.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. American Capital Advisory LLC acquired a new stake in Planet Labs PBC during the first quarter worth about $28,000. Western Wealth Management LLC acquired a new position in Planet Labs PBC in the 1st quarter valued at about $28,000. Pittenger & Anderson Inc. boosted its holdings in Planet Labs PBC by 40.9% in the 1st 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. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Planet Labs PBC in the 1st quarter valued at approximately $41,000. Finally, Whittier Trust Co. purchased a new stake in shares of Planet Labs PBC in the 1st quarter valued at approximately $66,000. Institutional investors and hedge funds own 41.71% of the company's stock.

About Planet Labs PBC

Planet Labs PBC is an Earth-imaging and geospatial data company that operates a constellation of satellites designed to provide frequent, high-resolution imagery of the planet. Its data is used to monitor changes in land, infrastructure, agriculture, forests, oceans and other environments.

The company's products include PlanetScope, a satellite imagery service intended to provide frequent coverage of large areas; SkySat, which offers higher-resolution imagery and video capabilities; and other satellite and data products, including hyperspectral imaging initiatives.

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