Arrowstreet Capital Limited Partnership Purchases Shares of 196,381 Planet Labs PBC (NYSE:PL)

Arrowstreet Capital Limited Partnership bought a new stake in Planet Labs PBC (NYSE:PL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 196,381 shares of the company's stock, valued at approximately $793,000. Arrowstreet Capital Limited Partnership owned approximately 0.07% of Planet Labs PBC at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Monterey Private Wealth Inc. bought a new position in Planet Labs PBC during the fourth quarter worth $40,000. SBI Securities Co. Ltd. acquired a new position in Planet Labs PBC in the 4th quarter valued at about $42,000. Sciencast Management LP bought a new position in Planet Labs PBC in the 4th quarter valued at about $43,000. PFG Investments LLC acquired a new stake in Planet Labs PBC during the fourth quarter worth approximately $55,000. Finally, Xponance Inc. boosted its holdings in shares of Planet Labs PBC by 12.0% during the fourth quarter. Xponance Inc. now owns 14,959 shares of the company's stock worth $60,000 after acquiring an additional 1,608 shares during the period. Institutional investors own 41.71% of the company's stock.

Wall Street Analysts Forecast Growth

PL has been the topic of a number of research reports. Benchmark upped their price objective on Planet Labs PBC from $4.00 to $7.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Needham & Company LLC restated a "buy" rating and issued a $8.00 price target on shares of Planet Labs PBC in a research note on Monday, March 24th. JMP Securities increased their target price on shares of Planet Labs PBC from $4.50 to $6.50 and gave the stock a "market outperform" rating in a research report on Thursday, January 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $6.30 price target on shares of Planet Labs PBC in a research report on Friday, March 21st. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $3.50 price target (down previously from $6.00) on shares of Planet Labs PBC in a research report on Friday, April 11th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $5.98.

Planet Labs PBC Trading Down 0.8 %

PL traded down $0.03 during trading on Thursday, reaching $3.17. 519,363 shares of the company's stock were exchanged, compared to its average volume of 3,479,859. The firm has a fifty day moving average price of $4.23 and a two-hundred day moving average price of $3.82. The stock has a market capitalization of $956.62 million, a PE ratio of -7.75 and a beta of 1.56. 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 released its quarterly earnings results on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $61.55 million during the quarter, compared to the consensus estimate of $61.89 million. During the same quarter last year, the firm posted ($0.06) EPS. Sell-side analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current 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.