OMERS ADMINISTRATION Corp Purchases Shares of 71,500 Planet Labs PBC (NYSE:PL)

OMERS ADMINISTRATION Corp purchased a new stake in Planet Labs PBC (NYSE:PL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 71,500 shares of the company’s stock, valued at approximately $289,000.

Other hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Planet Labs PBC by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 122,655 shares of the company’s stock worth $496,000 after acquiring an additional 5,785 shares during the last quarter. Laird Norton Wetherby Trust Company LLC grew its position in shares of Planet Labs PBC by 33.3% during the fourth quarter. Laird Norton Wetherby Trust Company LLC now owns 40,148 shares of the company’s stock worth $162,000 after acquiring an additional 10,037 shares during the last quarter. Graham Capital Management L.P. purchased a new position in shares of Planet Labs PBC during the fourth quarter worth approximately $460,000. Deutsche Bank AG grew its position in shares of Planet Labs PBC by 48.9% during the fourth quarter. Deutsche Bank AG now owns 208,412 shares of the company’s stock worth $842,000 after acquiring an additional 68,465 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of Planet Labs PBC during the fourth quarter worth approximately $46,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Planet Labs PBC Stock Performance

Planet Labs PBC stock opened at $3.82 on Tuesday. Planet Labs PBC has a one year low of $1.73 and a one year high of $6.71. The business has a fifty day moving average of $3.54 and a two-hundred day moving average of $4.04. The company has a market cap of $1.15 billion, a P/E ratio of -9.32 and a beta of 1.56.

Planet Labs PBC (NYSE:PL) last released its earnings results on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. The business had revenue of $61.55 million during the quarter, compared to analyst estimates of $61.89 million. During the same period last year, the business posted ($0.06) EPS. Sell-side analysts predict that Planet Labs PBC will post -0.37 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PL shares. Northland Securities raised their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. JMP Securities raised their target price on shares of Planet Labs PBC from $4.50 to $6.50 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price target on shares of Planet Labs PBC in a report on Wednesday, May 14th. Benchmark increased their price target on Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $3.50 price target (down from $6.00) on shares of Planet Labs PBC in a report on Friday, April 11th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.98.

Planet Labs PBC Profile

Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company’s platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.