222,256 Shares in Planet Labs PBC (NYSE:PL) Purchased by Aspiring Ventures LLC

Aspiring Ventures LLC bought a new position in shares of Planet Labs PBC (NYSE:PL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 222,256 shares of the company's stock, valued at approximately $849,000. Planet Labs PBC makes up 0.6% of Aspiring Ventures LLC's holdings, making the stock its 19th biggest holding. Aspiring Ventures LLC owned 0.07% of Planet Labs PBC at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Monterey Private Wealth Inc. bought a new position in Planet Labs PBC during the fourth quarter worth about $40,000. JPMorgan Chase & Co. increased its holdings in shares of Planet Labs PBC by 90.2% during the third quarter. JPMorgan Chase & Co. now owns 388,129 shares of the company's stock worth $866,000 after buying an additional 184,111 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Planet Labs PBC by 4.1% in the third quarter. Franklin Resources Inc. now owns 1,808,487 shares of the company's stock valued at $4,105,000 after acquiring an additional 71,719 shares during the last quarter. Barclays PLC boosted its holdings in shares of Planet Labs PBC by 25.0% in the 3rd quarter. Barclays PLC now owns 326,147 shares of the company's stock worth $728,000 after acquiring an additional 65,181 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Planet Labs PBC by 16.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company's stock worth $10,864,000 after acquiring an additional 689,888 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PL shares. Citigroup boosted their price objective on 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 raised their price objective on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a "buy" rating in a research report on Tuesday, December 17th. Craig Hallum boosted their target price on shares of Planet Labs PBC from $2.50 to $3.50 and gave the stock a "hold" rating in a research note on Tuesday, December 10th. JMP Securities reiterated a "market outperform" rating and issued a $4.50 price objective (up from $4.00) on shares of Planet Labs PBC in a research report on Monday, December 9th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $5.00 price target on shares of Planet Labs PBC in a research report on Friday, January 17th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $4.54.

Planet Labs PBC Stock Performance

NYSE:PL traded up $0.69 during trading hours on Friday, hitting $5.43. The stock had a trading volume of 14,427,786 shares, compared to its average volume of 3,408,513. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -13.23 and a beta of 1.32. Planet Labs PBC has a one year low of $1.67 and a one year high of $5.55. The business's 50 day moving average is $4.00 and its 200-day moving average is $2.89.

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.