Public Employees Retirement System of Ohio Invests $406,000 in Planet Labs PBC (NYSE:PL)

Public Employees Retirement System of Ohio bought a new stake in Planet Labs PBC (NYSE:PL) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 182,200 shares of the company’s stock, valued at approximately $406,000. Public Employees Retirement System of Ohio owned 0.06% of Planet Labs PBC at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC raised its stake in shares of Planet Labs PBC by 28.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,817,000 shares of the company’s stock valued at $4,052,000 after purchasing an additional 400,000 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Planet Labs PBC by 119.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 895,109 shares of the company’s stock valued at $1,996,000 after acquiring an additional 487,958 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Planet Labs PBC during the second quarter valued at approximately $632,000. Charles Schwab Investment Management Inc. raised its holdings in Planet Labs PBC by 13.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,732,546 shares of the company’s stock worth $3,864,000 after purchasing an additional 201,084 shares in the last quarter. Finally, FMR LLC lifted its position in Planet Labs PBC by 25.3% in the third quarter. FMR LLC now owns 454,339 shares of the company’s stock worth $1,013,000 after purchasing an additional 91,690 shares during the period. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Up 4.1 %

PL opened at $4.04 on Friday. Planet Labs PBC has a 12-month low of $1.67 and a 12-month high of $4.99. The firm has a market capitalization of $1.20 billion, a P/E ratio of -9.85 and a beta of 1.34. The stock has a fifty day moving average of $3.15 and a 200-day moving average of $2.50.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. The Goldman Sachs Group dropped their price objective on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price target on shares of Planet Labs PBC in a report on Tuesday, December 10th. Citigroup lifted their price objective on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Tuesday. Finally, JMP Securities restated a “market outperform” rating and issued a $4.50 price target (up previously from $4.00) on shares of Planet Labs PBC in a research report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Planet Labs PBC presently has an average rating of “Moderate Buy” and a consensus target price of $4.33.

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.