VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Position in Planet Labs PBC $PL

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Planet Labs PBC (NYSE:PL) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 23,000 shares of the company’s stock, valued at approximately $140,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Liontrust Investment Partners LLP grew its holdings in Planet Labs PBC by 175.0% during the 1st quarter. Liontrust Investment Partners LLP now owns 1,066,133 shares of the company’s stock valued at $3,604,000 after buying an additional 678,486 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Planet Labs PBC by 54.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock valued at $6,274,000 after buying an additional 653,173 shares in the last quarter. Nuveen LLC purchased a new position in Planet Labs PBC during the 1st quarter valued at about $1,668,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Planet Labs PBC by 144.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 709,657 shares of the company’s stock valued at $2,399,000 after buying an additional 419,773 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Planet Labs PBC by 41.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,323,263 shares of the company’s stock valued at $4,473,000 after buying an additional 389,375 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Planet Labs PBC in a report on Saturday. Citigroup reaffirmed an “outperform” rating on shares of Planet Labs PBC in a report on Tuesday, September 9th. Citizens Jmp cut Planet Labs PBC from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 21st. Wedbush boosted their target price on Planet Labs PBC from $11.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Finally, JMP Securities restated a “market perform” rating on shares of Planet Labs PBC in a research report on Tuesday, October 21st. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.26.

Planet Labs PBC Trading Up 4.7%

Shares of NYSE PL opened at $13.57 on Monday. Planet Labs PBC has a 12 month low of $2.18 and a 12 month high of $16.78. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of -45.22 and a beta of 1.99. The business has a 50-day moving average of $10.86 and a 200-day moving average of $7.07.

Planet Labs PBC (NYSE:PL) 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 business had revenue of $73.39 million for the quarter, compared to analysts’ expectations of $65.88 million. During the same period in the previous year, the firm posted ($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. On average, analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current year.

Insider Activity at Planet Labs PBC

In other news, insider Robert H. Schingler sold 81,656 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $15.50, for a total transaction of $1,265,668.00. Following the completion of the transaction, the insider owned 1,288,843 shares of the company’s stock, valued at approximately $19,977,066.50. The trade was a 5.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.53% of the company’s stock.

Planet Labs PBC Profile

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.