Planet Labs PBC Target of Unusually Large Options Trading (NYSE:PL)

Key Points

• Planet Labs PBC experienced a significant increase in call options trading, with 25,885 options purchased on Monday, marking a 240% rise from the average volume of 7,616.
• A variety of institutional investors made substantial purchases in the stock during the second quarter, with Connor Clark & Lunn Investment Management lifting their stake by 245.7% and Marshall Wace LLP increasing their holdings by over 10,000%.
• The company's recent earnings report showed a revenue of $73.39 million for the quarter, exceeding analyst expectations, but it reported a loss of (0.07) earnings per share, falling short of the consensus estimate of (0.04).

Planet Labs PBC (NYSE:PL - Get Free Report) was the recipient of some unusual options trading on Monday. Investors purchased 25,885 call options on the company. This is an increase of 240% compared to the average volume of 7,616 call options.

Analyst Ratings Changes

PL has been the topic of a number of recent research reports. Citigroup reaffirmed an "outperform" rating on shares of Planet Labs PBC in a research note on Tuesday. The Goldman Sachs Group initiated coverage on Planet Labs PBC in a research note on Monday, June 30th. They set a "neutral" rating and a $4.60 price objective on the stock. Wedbush raised their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Wall Street Zen upgraded shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $8.50 target price (up from $6.30) on shares of Planet Labs PBC in a report on Tuesday, June 24th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $7.56.

Hedge Funds Weigh In On Planet Labs PBC

Several large investors have recently made changes to their positions in the business. Teacher Retirement System of Texas lifted its holdings in shares of Planet Labs PBC by 5.9% during the second quarter. Teacher Retirement System of Texas now owns 31,973 shares of the company's stock valued at $195,000 after purchasing an additional 1,782 shares during the last quarter. Choreo LLC lifted its holdings in shares of Planet Labs PBC by 19.7% during the second quarter. Choreo LLC now owns 13,072 shares of the company's stock valued at $80,000 after purchasing an additional 2,148 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Planet Labs PBC by 45.1% during the second quarter. SBI Securities Co. Ltd. now owns 9,877 shares of the company's stock valued at $60,000 after purchasing an additional 3,068 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Planet Labs PBC by 32.1% during the first quarter. Mackenzie Financial Corp now owns 13,364 shares of the company's stock valued at $45,000 after purchasing an additional 3,245 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Planet Labs PBC by 3.0% during the second quarter. New York State Common Retirement Fund now owns 139,296 shares of the company's stock valued at $850,000 after purchasing an additional 3,993 shares during the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Planet Labs PBC Price Performance

PL traded up $0.09 on Friday, hitting $9.76. The company had a trading volume of 14,933,629 shares, compared to its average volume of 13,245,419. Planet Labs PBC has a 52-week low of $2.02 and a 52-week high of $10.08. The stock has a fifty day simple moving average of $6.90 and a 200-day simple moving average of $5.11. The firm has a market capitalization of $2.96 billion, a P/E ratio of -32.52 and a beta of 1.81.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings data on Monday, September 8th. The company reported ($0.07) 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 company had revenue of $73.39 million during the quarter, compared to analysts' expectations of $65.88 million. During the same quarter last year, the business earned ($0.06) earnings per share. The business's quarterly revenue was up 20.1% on a year-over-year basis. 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.