BHK Investment Advisors LLC Buys New Holdings in Planet Labs PBC $PL

BHK Investment Advisors LLC bought a new position in shares of Planet Labs PBC (NYSE:PL) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 70,000 shares of the company’s stock, valued at approximately $1,380,000. Planet Labs PBC makes up 0.5% of BHK Investment Advisors LLC’s portfolio, making the stock its 28th largest holding.

A number of other institutional investors also recently modified their holdings of PL. Barclays PLC raised its holdings in Planet Labs PBC by 758.1% during the 3rd quarter. Barclays PLC now owns 3,727,743 shares of the company’s stock worth $48,386,000 after purchasing an additional 3,293,333 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Planet Labs PBC by 265.6% in the 3rd quarter. Invesco Ltd. now owns 3,450,479 shares of the company’s stock valued at $44,787,000 after acquiring an additional 2,506,595 shares in the last quarter. Two Sigma Investments LP lifted its stake in Planet Labs PBC by 257.5% in the third quarter. Two Sigma Investments LP now owns 2,362,275 shares of the company’s stock valued at $30,662,000 after acquiring an additional 1,701,535 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Planet Labs PBC by 9.7% during the 3rd quarter. Vanguard Group Inc. now owns 18,551,697 shares of the company’s stock worth $240,801,000 after acquiring an additional 1,637,880 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Planet Labs PBC by 10,305.7% during the second quarter. Marshall Wace LLP now owns 1,509,248 shares of the company’s stock worth $9,206,000 after acquiring an additional 1,494,744 shares during the period. 41.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Robert H. Schingler sold 73,683 shares of Planet Labs PBC stock in a transaction that occurred 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 in the company, valued at $8,995,034.16. The trade was a 22.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 directly 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 position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 17.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PL. Northland Securities set a $28.00 price objective on Planet Labs PBC in a research note on Tuesday, January 13th. Wedbush raised their price target on shares of Planet Labs PBC from $30.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, March 20th. Zacks Research raised shares of Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft set a $38.00 price target on shares of Planet Labs PBC and gave the company a “buy” rating in a research report on Friday, March 27th. Finally, Needham & Company LLC boosted their target price on Planet Labs PBC to $40.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.94.

Planet Labs PBC Stock Up 11.0%

Shares of Planet Labs PBC stock opened at $39.10 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.64 and a debt-to-equity ratio of 2.37. The company’s fifty day simple moving average is $31.74 and its two-hundred day simple moving average is $23.16. The company has a market cap of $13.53 billion, a P/E ratio of -50.13 and a beta of 1.91. Planet Labs PBC has a 12-month low of $3.47 and a 12-month high of $41.71.

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.