Commonwealth Equity Services LLC Trims Holdings in Planet Labs PBC (NYSE:PL)

Commonwealth Equity Services LLC lessened its position in shares of Planet Labs PBC (NYSE:PL - Free Report) by 85.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,928 shares of the company's stock after selling 149,695 shares during the quarter. Commonwealth Equity Services LLC's holdings in Planet Labs PBC were worth $105,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Monterey Private Wealth Inc. bought a new stake in Planet Labs PBC in the fourth quarter worth $40,000. SBI Securities Co. Ltd. bought a new stake in shares of Planet Labs PBC in the 4th quarter worth about $42,000. Swiss National Bank lifted its holdings in shares of Planet Labs PBC by 2.7% in the 4th quarter. Swiss National Bank now owns 401,700 shares of the company's stock worth $1,623,000 after acquiring an additional 10,700 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Planet Labs PBC by 17.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 84,254 shares of the company's stock worth $188,000 after purchasing an additional 12,404 shares during the period. Finally, PFG Investments LLC bought a new position in Planet Labs PBC during the 4th quarter valued at about $55,000. Institutional investors own 41.71% of the company's stock.

Planet Labs PBC Stock Down 1.1 %

NYSE:PL traded down $0.04 on Thursday, hitting $3.16. The stock had a trading volume of 371,531 shares, compared to its average volume of 3,479,034. The company has a fifty day moving average price of $4.23 and a two-hundred day moving average price of $3.82. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $6.71. The stock has a market cap of $953.60 million, a price-to-earnings ratio of -7.70 and a beta of 1.56.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its 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). The company had revenue of $61.55 million during the quarter, compared to analyst estimates 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 company earned ($0.06) EPS. As a group, analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PL has been the subject of a number of recent analyst reports. Craig Hallum raised shares of Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 target price for the company in a research note on Thursday, January 30th. The Goldman Sachs Group restated a "neutral" rating and issued a $3.50 target price (down from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Benchmark raised their target price on shares of Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $6.30 price target on shares of Planet Labs PBC in a report on Friday, March 21st. Finally, Needham & Company LLC restated a "buy" rating and set a $8.00 price objective on shares of Planet Labs PBC in a report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Planet Labs PBC currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.98.

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.