Public Employees Retirement System of Ohio Takes $2.63 Million Position in Planet Labs PBC $PL

Key Points

• Ohio’s public employees’ retirement system purchased 79,530 Planet Labs shares worth approximately $2.63 million, while institutional investors collectively own 41.71% of the company.
• Planet Labs reported fiscal Q2 revenue of $116.1 million, up 58% year over year and above estimates, while adjusted EPS of $0.02 beat expectations for a loss.
• Despite strong quarterly results and improving analyst sentiment, fiscal Q3 revenue guidance of $101 million-$105 million fell below consensus, and the stock carries a consensus “Hold” rating with a $31.72 target price.

Public Employees Retirement System of Ohio purchased a new position in shares of Planet Labs PBC (NYSE:PL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 79,530 shares of the company's stock, valued at approximately $2,635,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Calamos Advisors LLC bought a new position in shares of Planet Labs PBC in the first quarter valued at approximately $2,973,000. Principal Financial Group Inc. increased its position in shares of Planet Labs PBC by 103.4% during the first quarter. Principal Financial Group Inc. now owns 565,537 shares of the company's stock valued at $15,807,000 after acquiring an additional 287,544 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Planet Labs PBC by 574.7% during the first quarter. Quantinno Capital Management LP now owns 145,751 shares of the company's stock worth $4,074,000 after acquiring an additional 124,150 shares during the period. Oddo BHF Asset Management Sas bought a new stake in Planet Labs PBC during the first quarter worth $5,472,000. Finally, Renaissance Technologies LLC grew its stake in Planet Labs PBC by 36.5% in the 1st quarter. Renaissance Technologies LLC now owns 1,021,180 shares of the company's stock valued at $28,542,000 after purchasing an additional 273,300 shares during the period. 41.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Berenberg Bank started coverage on Planet Labs PBC in a research report on Wednesday. They set a "buy" rating and a $25.00 target price for the company. Weiss Ratings raised shares of Planet Labs PBC from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, June 15th. Craig Hallum set a $35.00 target price on shares of Planet Labs PBC in a research note on Friday. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $36.00 target price on shares of Planet Labs PBC in a research note on Monday, June 15th. Finally, Citigroup downgraded shares of Planet Labs PBC from a "market perform" rating to a "hold" rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $31.72.

Planet Labs PBC Stock Performance

Shares of PL opened at $18.12 on Friday. Planet Labs PBC has a 52-week low of $6.26 and a 52-week high of $51.76. The stock's 50-day simple moving average is $23.66 and its 200 day simple moving average is $30.03. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.78 and a current ratio of 2.81. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of -16.47 and a beta of 2.10.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. Planet Labs PBC had a negative return on equity of 109.97% and a negative net margin of 95.13%.The firm had revenue of $116.05 million for the quarter, compared to analysts' expectations of $104.53 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The company's revenue was up 58.2% on a year-over-year basis. Research analysts forecast that Planet Labs PBC will post -0.92 EPS for the current fiscal year.

Key Planet Labs PBC News

Here are the key news stories impacting Planet Labs PBC this week:

• Positive Sentiment: Planet posted record fiscal Q2 revenue of $116.1 million, up 58% year over year and well above the $104.5 million consensus estimate. Adjusted earnings of $0.02 per share also exceeded expectations for a $0.02 loss. Planet Reports Financial Results for Second Quarter of Fiscal Year 2027
• Positive Sentiment: Management raised fiscal 2027 guidance and highlighted a satellite-services pipeline exceeding $4 billion, along with accelerating investment in its Owl satellite initiative. These developments support the longer-term growth case. PL Q2 Earnings Call Highlights Satellite Services Expansion
• Positive Sentiment: Planet announced a seven-figure agreement with a European defense and intelligence customer, adding to investor interest in its government and defense business. Planet Signs 7-Figure Agreement with European Defense and Intelligence Customer
• Positive Sentiment: Analyst sentiment improved: Berenberg upgraded Planet to “strong buy,” while Needham maintained a Buy rating despite reducing its price target to $40.
• Neutral Sentiment: New Street Research upgraded PL from Sell to Neutral with a $22 price target, and Citizens JMP reaffirmed its Market Perform rating, signaling improving but still cautious sentiment. New Street Upgrades Planet Labs PBC to Neutral From Sell
• Negative Sentiment: Fiscal Q3 revenue guidance of $101 million-$105 million was below the approximately $114 million analyst consensus. The weaker near-term outlook may be prompting selling despite the Q2 beat.

Insider Buying and Selling

In other news, Director John W. Raymond sold 6,494 shares of the business's stock in a transaction on Monday, July 13th. The shares were sold at an average price of $26.16, for a total transaction of $169,883.04. Following the completion of the transaction, the director directly owned 37,114 shares in the company, valued at $970,902.24. The trade was a 14.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert H. Schingler sold 25,000 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $25.92, for a total value of $648,000.00. Following the completion of the sale, the insider owned 225,171 shares in the company, valued at $5,836,432.32. This trade represents a 9.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 171,122 shares of company stock valued at $4,148,906. Company insiders own 16.42% of the company's stock.

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.

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