Planet Labs PBC (NYSE:PL) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in shares of Planet Labs PBC (NYSE:PL - Free Report) by 13.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,732,546 shares of the company's stock after purchasing an additional 201,084 shares during the period. Charles Schwab Investment Management Inc. owned 0.59% of Planet Labs PBC worth $3,864,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Algert Global LLC acquired a new stake in Planet Labs PBC in the 2nd quarter valued at about $38,000. Valeo Financial Advisors LLC acquired a new stake in Planet Labs PBC in the 3rd quarter valued at about $45,000. Vontobel Holding Ltd. raised its holdings in Planet Labs PBC by 81.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company's stock valued at $50,000 after acquiring an additional 10,000 shares during the last quarter. nVerses Capital LLC acquired a new stake in Planet Labs PBC in the 3rd quarter valued at about $61,000. Finally, SG Americas Securities LLC raised its holdings in Planet Labs PBC by 234.6% in the 2nd quarter. SG Americas Securities LLC now owns 44,442 shares of the company's stock valued at $83,000 after acquiring an additional 31,160 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company's stock.

Planet Labs PBC Price Performance

Shares of PL traded up $0.12 during midday trading on Friday, reaching $4.01. The stock had a trading volume of 3,234,047 shares, compared to its average volume of 2,131,709. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $4.99. The company's fifty day simple moving average is $2.96 and its two-hundred day simple moving average is $2.43. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -9.78 and a beta of 1.34.

Wall Street Analyst Weigh In

PL has been the subject of a number of recent research reports. JMP Securities reiterated a "market outperform" rating and issued a $4.50 price objective (up previously from $4.00) on shares of Planet Labs PBC in a report on Monday, December 9th. The Goldman Sachs Group cut their price target on shares of Planet Labs PBC from $3.50 to $3.10 and set a "buy" rating for the company in a report on Tuesday, September 10th. Craig Hallum increased their price objective on shares of Planet Labs PBC from $2.50 to $3.50 and gave the stock a "hold" rating in a research report on Tuesday, December 10th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $5.00 price objective on shares of Planet Labs PBC in a research report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $4.14.

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.