Planet Labs PBC (NYSE:PL) Shares Purchased by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC lifted its position in Planet Labs PBC (NYSE:PL - Free Report) by 28.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,817,000 shares of the company's stock after purchasing an additional 400,000 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 0.62% of Planet Labs PBC worth $4,052,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PL. Perkins Coie Trust Co purchased a new position in shares of Planet Labs PBC during the second quarter worth about $28,000. Valeo Financial Advisors LLC acquired a new position in shares of Planet Labs PBC in the third quarter valued at approximately $45,000. Algert Global LLC purchased a new stake in shares of Planet Labs PBC during the second quarter worth approximately $38,000. Virtu Financial LLC acquired a new stake in shares of Planet Labs PBC in the 1st quarter worth $52,000. Finally, Vontobel Holding Ltd. increased its position in Planet Labs PBC by 81.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company's stock worth $50,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 41.71% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on PL shares. Needham & Company LLC cut their price objective on Planet Labs PBC from $7.00 to $5.00 and set a "buy" rating for the company in a research report on Friday, September 6th. The Goldman Sachs Group lowered their target price on shares of Planet Labs PBC from $3.50 to $3.10 and set a "buy" rating on the stock in a research report on Tuesday, September 10th. JMP Securities reissued a "market outperform" rating and set a $4.00 price target on shares of Planet Labs PBC in a research note on Thursday, September 26th. Wedbush reiterated an "outperform" rating and set a $5.00 target price on shares of Planet Labs PBC in a research report on Friday, August 16th. Finally, Craig Hallum raised their price target on Planet Labs PBC from $2.00 to $2.50 and gave the company a "hold" rating in a research report on Friday, September 6th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $3.93.

Planet Labs PBC Trading Down 2.7 %

Shares of NYSE:PL traded down $0.12 on Tuesday, hitting $4.39. The company had a trading volume of 12,077,078 shares, compared to its average volume of 1,960,939. The company has a market cap of $1.29 billion, a PE ratio of -9.15 and a beta of 1.33. The business has a 50 day moving average of $2.58 and a 200 day moving average of $2.28. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $4.99.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.02). The firm had revenue of $61.09 million for the quarter, compared to analysts' expectations of $61.57 million. Planet Labs PBC had a negative return on equity of 26.87% and a negative net margin of 57.71%. As a group, equities analysts predict that Planet Labs PBC will post -0.41 EPS for the current year.

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.