New York State Common Retirement Fund Purchases 63,088 Shares of Planet Labs PBC $PL

New York State Common Retirement Fund grew its position in shares of Planet Labs PBC (NYSE:PL) by 45.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 202,384 shares of the company’s stock after acquiring an additional 63,088 shares during the period. New York State Common Retirement Fund owned about 0.07% of Planet Labs PBC worth $2,627,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Valeo Financial Advisors LLC raised its position in Planet Labs PBC by 4.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 21,641 shares of the company’s stock valued at $281,000 after purchasing an additional 925 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Planet Labs PBC in the 3rd quarter worth approximately $1,295,000. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Planet Labs PBC by 231.0% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,056,440 shares of the company’s stock valued at $13,713,000 after buying an additional 737,269 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Planet Labs PBC by 2.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 31,264 shares of the company’s stock valued at $406,000 after acquiring an additional 781 shares in the last quarter. Finally, Greenspring Advisors LLC purchased a new stake in Planet Labs PBC in the third quarter worth $216,000. 41.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PL shares. Zacks Research downgraded shares of Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research report on Monday, December 22nd. Needham & Company LLC boosted their price target on shares of Planet Labs PBC from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $16.40 price objective on shares of Planet Labs PBC in a report on Tuesday, January 20th. JMP Securities reiterated a “market perform” rating on shares of Planet Labs PBC in a report on Tuesday, October 21st. Finally, Craig Hallum reissued a “buy” rating and issued a $30.00 target price on shares of Planet Labs PBC in a research report on Tuesday, January 13th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.88.

Insider Buying and Selling

In related news, Director Kristen Robinson sold 47,835 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $26.96, for a total value of $1,289,631.60. Following the transaction, the director owned 222,897 shares in the company, valued at $6,009,303.12. The trade was a 17.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert H. Schingler sold 73,782 shares of Planet Labs PBC stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $19.35, for a total transaction of $1,427,681.70. Following the completion of the transaction, the insider directly owned 1,164,729 shares of the company’s stock, valued at $22,537,506.15. This trade represents a 5.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 292,368 shares of company stock worth $7,324,211 in the last 90 days. 17.53% of the stock is owned by company insiders.

Planet Labs PBC Price Performance

Shares of PL opened at $22.25 on Monday. The firm’s 50-day simple moving average is $21.03 and its two-hundred day simple moving average is $14.16. Planet Labs PBC has a fifty-two week low of $2.79 and a fifty-two week high of $30.90. The stock has a market cap of $6.98 billion, a PE ratio of -52.98 and a beta of 1.94. The company has a debt-to-equity ratio of 1.28, a quick ratio of 4.00 and a current ratio of 4.00.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings results on Wednesday, December 10th. The company reported $0.00 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.02. Planet Labs PBC had a negative return on equity of 31.01% and a negative net margin of 45.87%.The firm had revenue of $81.25 million for the quarter, compared to analysts’ expectations of $72.02 million. During the same period in the previous year, the firm posted ($0.02) EPS. The business’s revenue for the quarter was up 32.6% compared to the same quarter last year. Analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Planet Labs PBC Company Profile

Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company’s multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet’s imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.

Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.