54,518 Shares in Planet Labs PBC $PL Purchased by Florida Financial Advisors LLC

Florida Financial Advisors LLC acquired a new position in Planet Labs PBC (NYSE:PL) in the fourth quarter, HoldingsChannel reports. The fund acquired 54,518 shares of the company’s stock, valued at approximately $1,074,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Planet Labs PBC by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 19,358,515 shares of the company’s stock valued at $381,750,000 after buying an additional 806,818 shares during the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of Planet Labs PBC during the third quarter valued at about $13,564,000. New York State Common Retirement Fund lifted its position in shares of Planet Labs PBC by 45.3% during the third quarter. New York State Common Retirement Fund now owns 202,384 shares of the company’s stock valued at $2,627,000 after buying an additional 63,088 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Planet Labs PBC by 74.1% during the third quarter. Oppenheimer & Co. Inc. now owns 2,002,184 shares of the company’s stock valued at $25,988,000 after buying an additional 851,937 shares during the last quarter. Finally, Ranger Investment Management L.P. purchased a new stake in shares of Planet Labs PBC during the third quarter valued at about $2,688,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Robert H. Schingler sold 73,683 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were 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 in the company, valued at $8,995,034.16. This represents a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ashley F. Johnson sold 200,000 shares of the company’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 transaction, the chief financial officer owned 1,895,162 shares in the company, valued at approximately $66,520,186.20. This trade represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 16.42% of the company’s stock.

Planet Labs PBC Stock Performance

PL opened at $51.18 on Monday. Planet Labs PBC has a 52-week low of $3.66 and a 52-week high of $51.76. The company has a quick ratio of 1.64, a current ratio of 1.65 and a debt-to-equity ratio of 2.37. The company has a market cap of $17.71 billion, a P/E ratio of -65.61 and a beta of 1.99. The firm’s 50-day moving average price is $37.76 and its 200-day moving average price is $26.66.

Analyst Upgrades and Downgrades

Several analysts have commented on PL shares. Wedbush increased their price target on shares of Planet Labs PBC from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. The Goldman Sachs Group increased their price target on shares of Planet Labs PBC from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Morgan Stanley increased their price target on shares of 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. Zacks Research lowered shares of Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, New Street Research started coverage on shares of Planet Labs PBC in a research report on Wednesday, May 13th. They set a “sell” rating and a $28.00 price target for the company. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.61.

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.