Strs Ohio Has $653,000 Position in Planet Labs PBC $PL

Strs Ohio reduced its holdings in Planet Labs PBC (NYSE:PL) by 62.8% during the 4th quarter, HoldingsChannel reports. The firm owned 33,100 shares of the company’s stock after selling 55,900 shares during the quarter. Strs Ohio’s holdings in Planet Labs PBC were worth $653,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baillie Gifford & Co. acquired a new stake in shares of Planet Labs PBC in the fourth quarter valued at about $32,000. GAMMA Investing LLC grew its position in shares of Planet Labs PBC by 146.4% in the fourth quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock valued at $40,000 after purchasing an additional 1,195 shares during the last quarter. North Star Investment Management Corp. grew its position in shares of Planet Labs PBC by 1,111.1% in the fourth quarter. North Star Investment Management Corp. now owns 2,180 shares of the company’s stock valued at $43,000 after purchasing an additional 2,000 shares during the last quarter. MCF Advisors LLC acquired a new stake in shares of Planet Labs PBC in the third quarter valued at about $32,000. Finally, Larson Financial Group LLC acquired a new stake in shares of Planet Labs PBC in the third quarter valued at about $39,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PL shares. Morgan Stanley raised their price target on Planet Labs PBC from $26.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 25th. Citigroup raised their price target on Planet Labs PBC from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Northland Securities set a $28.00 price target on Planet Labs PBC in a research report on Tuesday, January 13th. Cantor Fitzgerald lifted their target price on Planet Labs PBC from $20.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Finally, Weiss Ratings downgraded Planet Labs PBC from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Planet Labs PBC presently has an average rating of “Hold” and an average price target of $29.94.

Planet Labs PBC Stock Up 11.0%

PL stock opened at $39.10 on Friday. Planet Labs PBC has a twelve month low of $3.47 and a twelve month high of $41.71. The company has a market cap of $13.53 billion, a PE ratio of -50.13 and a beta of 1.91. The business’s 50-day simple moving average is $31.74 and its 200 day simple moving average is $23.16. The company has a quick ratio of 1.64, a current ratio of 1.65 and a debt-to-equity ratio of 2.37.

Insider Transactions at Planet Labs PBC

In other Planet Labs PBC news, CFO Ashley F. Johnson sold 200,000 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the completion of the transaction, the chief financial officer owned 1,895,162 shares in the company, valued at $66,520,186.20. This trade represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert H. Schingler sold 73,683 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the transaction, the insider owned 256,488 shares of the company’s stock, valued at approximately $8,995,034.16. This represents a 22.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.53% of the stock is owned by company insiders.

Planet Labs PBC 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.