Planet Labs PBC (NYSE:PL) Stock Price Down 1.3% - Time to Sell?

Key Points

• Planet Labs reported a Q1 EPS miss of -$0.48 vs. -$0.05 est. while beating revenue at $86.82M (up 41% YoY), but remains unprofitable with a -80.22% net margin and negative ROE.
• Several analysts recently raised targets (some to $40) and issued Buy/Outperform ratings, yet the MarketBeat consensus is a Hold with a target of $29.94.
• Insiders have been selling sizable stakes (CFO sold 200,000 shares for ~$7.02M; another insider sold 73,683 shares), and the stock traded down ~1.3% intraday on volume ~56% below average.

Planet Labs PBC (NYSE:PL - Get Free Report)'s share price traded down 1.3% during trading on Tuesday . The stock traded as low as $33.73 and last traded at $34.9840. 6,068,231 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 13,644,055 shares. The stock had previously closed at $35.45.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wedbush boosted their price target on shares of Planet Labs PBC from $30.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, March 20th. Zacks Research upgraded shares of Planet Labs PBC from a "strong sell" rating to a "hold" rating in a research report on Friday, February 13th. Northland Securities set a $28.00 price objective on Planet Labs PBC in a report on Tuesday, January 13th. Cantor Fitzgerald boosted their price objective on Planet Labs PBC from $20.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, March 20th. Finally, Deutsche Bank Aktiengesellschaft set a $38.00 price objective on Planet Labs PBC and gave the stock a "buy" rating in a report on Friday, March 27th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Planet Labs PBC has a consensus rating of "Hold" and a consensus target price of $29.94.

Planet Labs PBC Price Performance

The stock's fifty day moving average price is $30.24 and its 200-day moving average price is $22.23. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.65 and a quick ratio of 1.64. The firm has a market cap of $12.11 billion, a price-to-earnings ratio of -44.85 and a beta of 1.83.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.43). Planet Labs PBC had a negative net margin of 80.22% and a negative return on equity of 69.61%. The firm had revenue of $86.82 million for the quarter, compared to analyst estimates of $78.17 million. The business's quarterly revenue was up 41.1% compared to the same quarter last year. Equities research analysts predict that Planet Labs PBC will post -0.45 EPS for the current fiscal year.

Insider Transactions at Planet Labs PBC

In other news, insider Robert H. Schingler sold 73,683 shares of the company's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $35.07, for a total value of $2,584,062.81. Following the transaction, the insider owned 256,488 shares in the company, valued at $8,995,034.16. This represents a 22.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ashley F. Johnson sold 200,000 shares of the company's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total value of $7,020,000.00. Following the completion of the transaction, the chief financial officer owned 1,895,162 shares in the company, valued at $66,520,186.20. This represents a 9.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Planet Labs PBC

Large investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust increased its holdings in shares of Planet Labs PBC by 92.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company's stock valued at $31,000 after purchasing an additional 745 shares during the period. MCF Advisors LLC acquired a new position in shares of Planet Labs PBC in the 3rd quarter valued at about $32,000. Baillie Gifford & Co. acquired a new position in shares of Planet Labs PBC in the 4th quarter valued at about $32,000. Larson Financial Group LLC acquired a new position in Planet Labs PBC in the third quarter worth approximately $39,000. Finally, GAMMA Investing LLC increased its stake in shares of Planet Labs PBC by 146.4% during the 4th quarter. GAMMA Investing LLC now owns 2,011 shares of the company's stock worth $40,000 after purchasing an additional 1,195 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company's stock.

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.