FNY Investment Advisers LLC Acquires 63,350 Shares of Planet Labs PBC $PL

FNY Investment Advisers LLC lifted its holdings in shares of Planet Labs PBC (NYSE:PL) by 418.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 78,500 shares of the company’s stock after acquiring an additional 63,350 shares during the quarter. FNY Investment Advisers LLC’s holdings in Planet Labs PBC were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in Planet Labs PBC by 671.1% in the 1st quarter. AQR Capital Management LLC now owns 92,693 shares of the company’s stock valued at $313,000 after buying an additional 80,672 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Planet Labs PBC during the first quarter worth $189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Planet Labs PBC by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 130,798 shares of the company’s stock worth $442,000 after acquiring an additional 8,143 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Planet Labs PBC by 54.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock worth $6,274,000 after acquiring an additional 653,173 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Planet Labs PBC in the second quarter worth $68,000. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Stock Down 8.4%

PL opened at $24.80 on Thursday. The firm has a market capitalization of $7.78 billion, a P/E ratio of -59.04 and a beta of 1.95. Planet Labs PBC has a one year low of $2.79 and a one year high of $30.90. The company has a fifty day moving average price of $24.85 and a 200-day moving average price of $17.59. The company has a debt-to-equity ratio of 1.28, a current ratio of 4.00 and a quick ratio of 4.00.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PL. National Bank Financial set a $12.30 price target on Planet Labs PBC in a research report on Tuesday, December 16th. Citigroup increased their price objective on Planet Labs PBC from $19.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a research note on Thursday, January 22nd. Northland Securities set a $28.00 target price on Planet Labs PBC in a report on Tuesday, January 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Planet Labs PBC in a research report on Thursday, December 11th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.88.

Insiders Place Their Bets

In other Planet Labs PBC news, Director Vijaya Gadde sold 20,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $26.77, for a total value of $535,400.00. Following the transaction, the director directly owned 250,169 shares in the company, valued at $6,697,024.13. This represents a 7.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert H. Schingler sold 73,782 shares of the firm’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $19.35, for a total value of $1,427,681.70. Following the completion of the sale, the insider directly owned 1,164,729 shares in the company, valued at approximately $22,537,506.15. The trade was a 5.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 292,348 shares of company stock worth $7,323,958 over the last three months. Corporate insiders own 17.53% of the company’s stock.

About Planet Labs PBC

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.