Voya Investment Management LLC Reduces Stock Holdings in Planet Labs PBC (NYSE:PL)

Voya Investment Management LLC trimmed its position in Planet Labs PBC (NYSE:PL) by 94.4% during the 4th quarter, HoldingsChannel reports. The firm owned 63,162 shares of the company’s stock after selling 1,056,062 shares during the period. Voya Investment Management LLC’s holdings in Planet Labs PBC were worth $255,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of PL. Price T Rowe Associates Inc. MD lifted its position in shares of Planet Labs PBC by 18.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 84,803 shares of the company’s stock valued at $343,000 after buying an additional 13,414 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Planet Labs PBC by 22.7% during the 4th quarter. MetLife Investment Management LLC now owns 132,120 shares of the company’s stock valued at $534,000 after buying an additional 24,419 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 buying an additional 1,013,234 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Planet Labs PBC during the 4th quarter valued at about $59,000. Finally, Jump Financial LLC purchased a new position in shares of Planet Labs PBC during the 4th quarter valued at about $48,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Planet Labs PBC Stock Up 4.9%

Shares of Planet Labs PBC stock opened at $3.74 on Tuesday. The stock’s fifty day moving average is $3.55 and its two-hundred day moving average is $3.98. The company has a market capitalization of $1.13 billion, a PE ratio of -9.11 and a beta of 1.56. Planet Labs PBC has a 52 week low of $1.73 and a 52 week high of $6.71.

Planet Labs PBC (NYSE:PL) last announced 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). The business had revenue of $61.55 million during the quarter, compared to the consensus estimate 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 last year, the company earned ($0.06) EPS. As a group, research analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PL. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.30 price objective on shares of Planet Labs PBC in a research report on Friday, March 21st. JMP Securities lifted their target price on 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 Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Thursday, January 30th. Benchmark upped their price objective 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 objective (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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.