Voya Investment Management LLC Sells 1,056,062 Shares of Planet Labs PBC (NYSE:PL)

Voya Investment Management LLC lessened its holdings in Planet Labs PBC (NYSE:PL - Free Report) by 94.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,162 shares of the company's stock after selling 1,056,062 shares during the quarter. Voya Investment Management LLC's holdings in Planet Labs PBC were worth $255,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Planet Labs PBC by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 15,952,394 shares of the company's stock valued at $64,448,000 after buying an additional 397,153 shares during the period. Geode Capital Management LLC boosted its holdings in Planet Labs PBC by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 4,939,737 shares of the company's stock valued at $19,961,000 after acquiring an additional 69,245 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Planet Labs PBC by 101.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company's stock valued at $8,140,000 after purchasing an additional 1,013,234 shares during the period. Franklin Resources Inc. raised its holdings in Planet Labs PBC by 4.3% during the 4th quarter. Franklin Resources Inc. now owns 1,886,835 shares of the company's stock worth $7,623,000 after purchasing an additional 78,348 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Planet Labs PBC by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,770,146 shares of the company's stock worth $7,151,000 after purchasing an additional 37,600 shares during the period. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PL has been the topic of a number of analyst reports. JMP Securities upped 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 note on Thursday, January 30th. Craig Hallum raised shares of Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price target on the stock in a research report on Thursday, January 30th. The Goldman Sachs Group reissued a "neutral" rating and issued a $3.50 price objective (down from $6.00) on shares of Planet Labs PBC in a research report on Friday, April 11th. Northland Securities boosted their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $6.30 target price on shares of Planet Labs PBC in a research note on Friday, March 21st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Planet Labs PBC currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.98.

Planet Labs PBC Trading Up 0.9%

Planet Labs PBC stock traded up $0.04 during midday trading on Friday, reaching $3.93. The stock had a trading volume of 3,177,018 shares, compared to its average volume of 3,642,632. The company has a fifty day moving average price of $3.55 and a two-hundred day moving average price of $3.99. Planet Labs PBC has a 12 month low of $1.73 and a 12 month high of $6.71. The company has a market capitalization of $1.19 billion, a P/E ratio of -9.57 and a beta of 1.56.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $61.55 million for the quarter, compared to the consensus estimate of $61.89 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. On average, equities research analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Planet Labs PBC Company 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.