Driehaus Capital Management Reduces $18M in Planet Labs PBC ($PL)
Key Points
- Driehaus Capital Management changed its Planet Labs PBC ($PL) stake by 7.0% last quarter, cutting to 7,918,693 shares worth $246.67 million.
- Wall Street's consensus rating on $PL is Buy and an average price target of $40.00.
- $PL last traded around $31.15.
Driehaus Capital Management trimmed its position in Planet Labs PBC ($PL) by 7.0% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,918,693 shares of Planet Labs PBC after selling 592,927 shares during the quarter. Driehaus Capital Management's holdings in Planet Labs PBC were worth $246.67 million as of its most recent filing.
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About Planet Labs PBC
Planet Labs PBC engages in the design, construction, and launch of constellations of satellites with the intent of providing high-cadence geospatial data delivered to customers through an online platform in the United States and internationally. The company offers SuperDove satellites to create an always-online scanner for the planet, with the goal of imaging the Earth every day at a ground sampling distance (GSD) resolution of up to 3.5 meters. This combines planet monitoring with other scientific-grade radiometric data from public satellite data programs; and SkySat and Pelican satellites to capture a specified location several times per day, achieving a GSD resolution of up to 50 centimeters after processing, powered by an application programming interface. It also provides Tanager, a hyperspectral imaging satellite that delivers full-spectrum imagery across the visible and shortwave infrared regions, and the Earth Observation platform, which enables customers and partners to access, analyze, and act on its proprietary data catalog by discovering image tasking capacity, relevant data layers, extracting useful information, and delivering insights through custom-built solutions or GIS workflows via APIs and browser-based applications. In addition, the company's satellite services arrangements include designing and manufacturing customer-owned satellites, mission systems engineering, launch procurement, ground station infrastructure, satellite operations, and maintenance, as well as dedicated image tasking capacity on company-owned or customer-owned satellites. It serves agriculture, mapping, energy, forestry, finance, and insurance companies, as well as government agencies. Planet Labs PBC was founded in 2010 and is headquartered in San Francisco, California.
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