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

FNY Investment Advisers LLC raised its position in Planet Labs PBC (NYSE:PL) by 418.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,500 shares of the company’s stock after buying an additional 63,350 shares during the period. FNY Investment Advisers LLC’s holdings in Planet Labs PBC were worth $1,018,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in shares of Planet Labs PBC by 671.1% in the 1st quarter. AQR Capital Management LLC now owns 92,693 shares of the company’s stock worth $313,000 after buying an additional 80,672 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Planet Labs PBC during the first quarter valued at approximately $189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 during the period. Goldman Sachs Group Inc. boosted its position in 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 purchasing an additional 653,173 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Planet Labs PBC in the second quarter worth $68,000. Institutional investors own 41.71% of the company’s stock.

Analyst Ratings Changes

PL has been the subject of several research analyst reports. Wedbush raised their target price on Planet Labs PBC from $20.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, January 13th. Needham & Company LLC boosted their price target on shares of Planet Labs PBC from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Cantor Fitzgerald restated an “overweight” rating on shares of Planet Labs PBC in a research report on Thursday, December 11th. Morgan Stanley raised their price objective on shares of Planet Labs PBC from $20.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Finally, National Bank Financial set a $12.30 price objective on shares of Planet Labs PBC in a research report on Tuesday, December 16th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.88.

Planet Labs PBC Price Performance

Shares of NYSE PL opened at $24.80 on Thursday. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 1.28. The stock has a fifty day simple moving average of $24.85 and a two-hundred day simple moving average of $17.59. Planet Labs PBC has a 1-year low of $2.79 and a 1-year high of $30.90. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of -59.04 and a beta of 1.95.

Insider Transactions at Planet Labs PBC

In other news, CFO Ashley F. Johnson sold 150,731 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $27.01, for a total transaction of $4,071,244.31. Following the transaction, the chief financial officer owned 1,956,101 shares of the company’s stock, valued at $52,834,288.01. This represents a 7.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kristen Robinson sold 47,835 shares of the stock in a transaction on Wednesday, January 21st. The stock was 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 of the company’s stock, valued at $6,009,303.12. The trade was a 17.67% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 292,348 shares of company stock valued at $7,323,958. Corporate insiders own 17.53% of the company’s stock.

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.