GSA Capital Partners LLP Trims Stock Position in Planet Labs PBC $PL

GSA Capital Partners LLP lessened its holdings in Planet Labs PBC (NYSE:PL) by 40.0% during the 4th quarter, Holdings Channel reports. The firm owned 58,470 shares of the company’s stock after selling 38,990 shares during the quarter. GSA Capital Partners LLP’s holdings in Planet Labs PBC were worth $1,153,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings raised Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Citigroup raised their price target on Planet Labs PBC from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Wedbush raised their price target on Planet Labs PBC from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Zacks Research downgraded Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Finally, Cantor Fitzgerald raised their price target 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. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.61.

Planet Labs PBC Price Performance

Shares of NYSE:PL opened at $42.59 on Friday. The company has a market cap of $14.74 billion, a P/E ratio of -54.60 and a beta of 1.91. The company has a quick ratio of 1.64, a current ratio of 1.65 and a debt-to-equity ratio of 2.37. Planet Labs PBC has a 52 week low of $3.47 and a 52 week high of $45.78. The business has a fifty day simple moving average of $34.99 and a 200-day simple moving average of $25.16.

Insiders Place Their Bets

In other news, CFO Ashley F. Johnson sold 200,000 shares of Planet Labs PBC stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $35.10, for a total value of $7,020,000.00. Following the completion of the sale, the chief financial officer owned 1,895,162 shares of the company’s stock, valued at $66,520,186.20. The trade was 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 the SEC website. Also, insider Robert H. Schingler sold 73,683 shares of Planet Labs PBC stock in a transaction on Monday, April 6th. The shares were sold at an average price of $35.07, for a total value of $2,584,062.81. Following the completion of the sale, the insider directly 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 insiders.

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.