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 target of some unusual options trading on Monday. Stock investors purchased 25,885 call options on the stock. Thisrepresentsanincreaseof240% compared to the typical volume of 7,616 call options.

Hedge Funds Weigh In On Planet Labs PBC

A number of institutional investors have recently added to or reduced their stakes in PL. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Planet Labs PBC by 245.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,453,131 shares of the company's stock valued at $14,964,000 after acquiring an additional 1,743,474 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Planet Labs PBC by 10,305.7% in the 2nd quarter. Marshall Wace LLP now owns 1,509,248 shares of the company's stock valued at $9,206,000 after purchasing an additional 1,494,744 shares during the period. Jump Financial LLC acquired a new stake in Planet Labs PBC in the 2nd quarter valued at about $7,723,000. Bank of America Corp DE lifted its stake in Planet Labs PBC by 477.9% in the 2nd quarter. Bank of America Corp DE now owns 1,349,603 shares of the company's stock valued at $8,233,000 after purchasing an additional 1,116,055 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in Planet Labs PBC by 415.4% during the second quarter. Qube Research & Technologies Ltd now owns 1,326,337 shares of the company's stock worth $8,091,000 after purchasing an additional 1,068,978 shares during the period. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Stock Performance

PL traded up $3.17 on Monday, hitting $9.70. 63,199,254 shares of the company were exchanged, compared to its average volume of 7,076,232. The stock's fifty day moving average is $6.60 and its 200-day moving average is $4.94. Planet Labs PBC has a 12 month low of $1.79 and a 12 month high of $9.71. The company has a market cap of $2.94 billion, a PE ratio of -26.93 and a beta of 1.81.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly earnings results on Monday, September 8th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Planet Labs PBC had a negative return on equity of 23.36% and a negative net margin of 42.58%.The company had revenue of $73.39 million for the quarter, compared to analyst estimates of $65.88 million. During the same period last year, the firm earned ($0.06) EPS. The firm's revenue for the quarter was up 20.1% compared to the same quarter last year. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities research analysts expect that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PL has been the topic of several research analyst reports. Wedbush raised their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Needham & Company LLC reissued a "buy" rating and set a $8.00 price objective on shares of Planet Labs PBC in a research report on Thursday, June 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $8.50 price objective (up from $6.30) on shares of Planet Labs PBC in a research report on Tuesday, June 24th. Citigroup upped their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, The Goldman Sachs Group initiated coverage on Planet Labs PBC in a research note on Monday, June 30th. They issued a "neutral" rating and a $4.60 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Planet Labs PBC has an average rating of "Moderate Buy" and a consensus price target of $6.86.

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.

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