OMERS ADMINISTRATION Corp Takes $289,000 Position in Planet Labs PBC (NYSE:PL)

OMERS ADMINISTRATION Corp acquired a new stake in shares of Planet Labs PBC (NYSE:PL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 71,500 shares of the company's stock, valued at approximately $289,000.

Several other hedge funds also recently bought and sold shares of PL. Sterling Capital Management LLC boosted its stake in shares of Planet Labs PBC by 790.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock valued at $28,000 after purchasing an additional 6,072 shares in the last quarter. Monterey Private Wealth Inc. bought a new position in Planet Labs PBC in the 4th quarter worth $40,000. Wedbush Securities Inc. bought a new position in shares of Planet Labs PBC in the 4th quarter worth about $41,000. SBI Securities Co. Ltd. bought a new position in shares of Planet Labs PBC in the 4th quarter worth about $42,000. Finally, Sciencast Management LP bought a new stake in Planet Labs PBC during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PL. Northland Securities raised their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. The Goldman Sachs Group reissued a "neutral" rating and issued a $3.50 target price (down previously from $6.00) on shares of Planet Labs PBC in a report on Friday, April 11th. Needham & Company LLC restated a "buy" rating and issued a $8.00 price target on shares of Planet Labs PBC in a research report on Wednesday, May 14th. JMP Securities boosted their price objective on shares of Planet Labs PBC from $4.50 to $6.50 and gave the company a "market outperform" rating in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $6.30 price objective on shares of Planet Labs PBC in a research report on Friday, March 21st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $5.98.

Planet Labs PBC Stock Down 0.5%

NYSE:PL traded down $0.02 during mid-day trading on Thursday, reaching $3.69. The company's stock had a trading volume of 4,403,884 shares, compared to its average volume of 3,683,286. Planet Labs PBC has a 1 year low of $1.73 and a 1 year high of $6.71. The stock has a fifty day moving average of $3.53 and a 200-day moving average of $4.03. The firm has a market capitalization of $1.12 billion, a PE ratio of -9.00 and a beta of 1.56.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $61.55 million for the quarter, compared to analysts' expectations of $61.89 million. Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. During the same period in the previous year, the company posted ($0.06) earnings per share. On average, analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current year.

About Planet Labs PBC

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.