Florida Financial Advisors LLC Acquires Shares of 54,518 Planet Labs PBC $PL

Florida Financial Advisors LLC acquired a new stake in shares of Planet Labs PBC (NYSE:PL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 54,518 shares of the company’s stock, valued at approximately $1,074,000.

Other hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. purchased a new stake in shares of Planet Labs PBC during the fourth quarter valued at $32,000. GAMMA Investing LLC boosted its stake in shares of Planet Labs PBC by 146.4% during the fourth quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock valued at $40,000 after purchasing an additional 1,195 shares during the period. North Star Investment Management Corp. boosted its stake in shares of Planet Labs PBC by 1,111.1% during the fourth quarter. North Star Investment Management Corp. now owns 2,180 shares of the company’s stock valued at $43,000 after purchasing an additional 2,000 shares during the period. MCF Advisors LLC purchased a new stake in shares of Planet Labs PBC during the third quarter valued at $32,000. Finally, Larson Financial Group LLC purchased a new stake in shares of Planet Labs PBC during the third quarter valued at $39,000. Institutional investors own 41.71% of the company’s stock.

Insider Transactions at Planet Labs PBC

In related news, 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 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. This represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert H. Schingler sold 73,683 shares of the company’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $35.07, for a total transaction 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 trade represents a 22.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.42% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup boosted their target price on shares of Planet Labs PBC from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. New Street Research assumed coverage on shares of Planet Labs PBC in a research note on Wednesday, May 13th. They set a “sell” rating and a $28.00 target price for the company. Morgan Stanley boosted their target price on shares of Planet Labs PBC from $26.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 25th. Cantor Fitzgerald boosted their target price on shares of Planet Labs PBC from $20.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. Finally, Weiss Ratings raised shares of Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. Six 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. Based on data from MarketBeat, Planet Labs PBC has an average rating of “Hold” and an average target price of $30.61.

Planet Labs PBC Stock Up 0.1%

NYSE:PL opened at $51.18 on Monday. Planet Labs PBC has a 1-year low of $3.66 and a 1-year high of $51.76. The company has a 50-day moving average of $37.76 and a 200 day moving average of $26.66. The firm has a market cap of $17.71 billion, a PE ratio of -65.61 and a beta of 1.99. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.65 and a quick ratio of 1.64.

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.