25,880 Shares in Planet Labs PBC (NYSE:PL) Purchased by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System bought a new position in shares of Planet Labs PBC (NYSE:PL – Get Rating) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 25,880 shares of the company’s stock, valued at approximately $113,000.

A number of other institutional investors have also recently bought and sold shares of PL. Itau Unibanco Holding S.A. purchased a new position in Planet Labs PBC in the 3rd quarter worth about $30,000. Quantbot Technologies LP acquired a new stake in shares of Planet Labs PBC during the 1st quarter valued at about $45,000. Pictet Asset Management SA bought a new position in shares of Planet Labs PBC in the 3rd quarter valued at approximately $55,000. Renaissance Technologies LLC bought a new position in shares of Planet Labs PBC in the 1st quarter valued at approximately $58,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Planet Labs PBC in the 2nd quarter valued at approximately $64,000. Hedge funds and other institutional investors own 43.05% of the company’s stock.

Insider Transactions at Planet Labs PBC

In other Planet Labs PBC news, insider Kevin Weil purchased 274,000 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were bought at an average price of $3.64 per share, with a total value of $997,360.00. Following the completion of the transaction, the insider now directly owns 439,580 shares in the company, valued at approximately $1,600,071.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. Citigroup started coverage on Planet Labs PBC in a research report on Tuesday, April 18th. They issued a “buy” rating and a $6.00 price target on the stock. JMP Securities began coverage on Planet Labs PBC in a research note on Tuesday, May 2nd. They issued an “outperform” rating and a $5.50 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price target on shares of Planet Labs PBC in a report on Thursday, April 20th. Benchmark decreased their price target on Planet Labs PBC from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, March 30th. Finally, The Goldman Sachs Group decreased their price target on Planet Labs PBC from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, April 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Planet Labs PBC currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.28.

Planet Labs PBC Trading Down 0.2 %

NYSE:PL opened at $4.34 on Wednesday. Planet Labs PBC has a 1-year low of $3.29 and a 1-year high of $7.51. The business’s 50-day moving average price is $3.95 and its two-hundred day moving average price is $4.56. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.11 and a beta of 0.69.

Planet Labs PBC (NYSE:PL – Get Rating) last released its quarterly earnings results on Wednesday, March 29th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The company had revenue of $52.98 million for the quarter, compared to analyst estimates of $52.56 million. Planet Labs PBC had a negative return on equity of 26.83% and a negative net margin of 84.68%. Planet Labs PBC’s revenue was up 42.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.26) earnings per share. Sell-side analysts predict that Planet Labs PBC will post -0.54 earnings per share for the current year.

Planet Labs PBC Profile

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Planet Labs PBC designs, constructs, and launches constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company offers Open Geospatial Consortium, a cloud-native proprietary technology that performs critical processing and overall harmonizing of images for time series and data fusion and analysis; and space-based hardware and related software systems.