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Planet Labs PBC (PL) Is Now En Route to Higher Prices

Planet Labs PBC (NYSE: PL) is -8.91% lower on its value in year-to-date trading and has touched a low of $1.99 and a high of $5.00 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The PL stock was last observed hovering at around $2.55 in the last trading session, with the day’s loss setting it -0.3%.

Currently trading at $2.25, the stock is -2.26% and -0.60% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.32 million and changing -11.76% at the moment leaves the stock -14.90% off its SMA200. PL registered -36.44% loss for a year compared to 6-month loss of -13.13%. The firm has a 50-day simple moving average (SMA 50) of $2.01 and a 200-day simple moving average (SMA200) of -$4.82.

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The stock witnessed a 2.74% gain in the last 1 month and extending the period to 3 months gives it a -12.11%, and is -5.86% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.82% over the week and 5.19% over the month.

Planet Labs PBC (PL) has around 1180 employees, a market worth around $642.74M and $220.70M in sales. Profit margin for the company is -63.67%. Distance from 52-week low is 13.07% and -55.00% from its 52-week high. The company has generated returns on investments over the last 12 months (-26.26%).

Planet Labs PBC quarterly earnings per share for the current quarter are estimated at -$0.06 with sales reaching $60.27M over the same period.The EPS is expected to grow by 11.53% this year, but quarterly earnings will post 17.70% year-over-year.

Planet Labs PBC (PL) Top Institutional Holders

239 institutions hold shares in Planet Labs PBC (PL), with institutional investors hold 56.17% of the company’s shares. The shares outstanding are 268.12M, and float is at 189.51M with Short Float at 3.85%. Institutions hold 53.88% of the Float.

The top institutional shareholder in the company is Alphabet Inc. with over 31.94 million shares valued at $102.86 million. The investor’s holdings represent 12.08% of the PL Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 17.85 million shares valued at $57.47 million to account for 6.75% of the shares outstanding. The other top investors are Blackrock Inc. which holds 13.81 million shares representing 5.22% and valued at over $44.47 million, while Canada Pension Plan Investment Board holds 2.95% of the shares totaling 7.8 million with a market value of $25.12 million.

Planet Labs PBC (PL) Insider Activity

The most recent transaction is an insider sale by Johnson Ashley F.,the company’sCFO & COO. SEC filings show that Johnson Ashley F. sold 1,000 shares of the company’s common stock on Mar 01 ’24 at a price of $2.18 per share for a total of $2180.0. Following the sale, the insider now owns 0.84 million shares.

Planet Labs PBC disclosed in a document filed with the SEC on Feb 01 ’24 that Johnson Ashley F. (CFO & COO) sold a total of 1,000 shares of the company’s common stock. The trade occurred on Feb 01 ’24 and was made at $2.31 per share for $2310.0. Following the transaction, the insider now directly holds 0.84 million shares of the PL stock.

Still, SEC filings show that on Jan 02 ’24, Johnson Ashley F. (CFO & COO) disposed off 1,000 shares at an average price of $2.46 for $2460.0. The insider now directly holds 845,509 shares of Planet Labs PBC (PL).

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