ExodusPoint Capital Management LP Takes $1.50 Million Position in Planet Labs PBC (NYSE:PL)

ExodusPoint Capital Management LP bought a new position in shares of Planet Labs PBC (NYSE:PL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 370,578 shares of the company's stock, valued at approximately $1,497,000. ExodusPoint Capital Management LP owned 0.12% of Planet Labs PBC as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Monterey Private Wealth Inc. bought a new position in Planet Labs PBC during the 4th quarter valued at $40,000. SBI Securities Co. Ltd. bought a new position in shares of Planet Labs PBC during the fourth quarter valued at about $42,000. Sciencast Management LP purchased a new position in Planet Labs PBC during the fourth quarter worth about $43,000. PFG Investments LLC bought a new stake in Planet Labs PBC in the 4th quarter worth about $55,000. Finally, Xponance Inc. increased its stake in Planet Labs PBC by 12.0% in the 4th quarter. Xponance Inc. now owns 14,959 shares of the company's stock valued at $60,000 after buying an additional 1,608 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PL shares. The Goldman Sachs Group restated a "neutral" rating and issued a $3.50 target price (down previously from $6.00) on shares of Planet Labs PBC in a research note on Friday. Craig Hallum upgraded Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price objective for the company in a research note on Thursday, January 30th. Benchmark lifted their target price on Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Needham & Company LLC restated a "buy" rating and set a $8.00 price target on shares of Planet Labs PBC in a research report on Monday, March 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a "buy" rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $5.98.

Planet Labs PBC Trading Up 4.6 %

Shares of NYSE PL traded up $0.15 during midday trading on Tuesday, hitting $3.29. The company's stock had a trading volume of 1,440,901 shares, compared to its average volume of 3,480,068. The firm has a market capitalization of $992.89 million, a price-to-earnings ratio of -8.01 and a beta of 1.56. The stock has a fifty day moving average price of $4.35 and a 200 day moving average price of $3.83. Planet Labs PBC has a one year low of $1.67 and a one year high of $6.71.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). The business had revenue of $61.55 million for 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 in the previous 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.