Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Planet Labs PBC (NYSE:PL - Free Report) by 313.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 289,884 shares of the company's stock after purchasing an additional 219,702 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.10% of Planet Labs PBC worth $1,171,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in PL. ArrowMark Colorado Holdings LLC lifted its holdings in Planet Labs PBC by 28.2% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,817,000 shares of the company's stock worth $4,052,000 after buying an additional 400,000 shares during the period. JPMorgan Chase & Co. raised its position 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 acquiring an additional 184,111 shares during the last quarter. Aspiring Ventures LLC acquired a new position in shares of Planet Labs PBC in the fourth quarter worth approximately $849,000. Barclays PLC boosted its holdings in Planet Labs PBC by 25.0% in the third quarter. Barclays PLC now owns 326,147 shares of the company's stock valued at $728,000 after acquiring an additional 65,181 shares during the last quarter. Finally, State Street Corp boosted its holdings in Planet Labs PBC by 5.7% in the third quarter. State Street Corp now owns 4,272,633 shares of the company's stock valued at $9,528,000 after acquiring an additional 230,076 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors.
Planet Labs PBC Trading Up 5.1 %
Shares of PL traded up $0.20 during mid-day trading on Monday, reaching $3.99. 5,311,069 shares of the stock traded hands, compared to its average volume of 3,283,615. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -9.72 and a beta of 1.45. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $6.71. The firm has a fifty day moving average price of $4.88 and a 200 day moving average price of $3.67.
Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. The firm had revenue of $61.55 million for the quarter, compared to the consensus estimate of $61.89 million. During the same period last year, the firm earned ($0.06) EPS. On average, sell-side analysts anticipate that Planet Labs PBC will post -0.37 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on PL shares. Benchmark boosted their price target 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. The Goldman Sachs Group increased their price target on Planet Labs PBC from $5.00 to $6.40 and gave the stock a "buy" rating in a report on Monday, February 3rd. Needham & Company LLC reissued a "buy" rating and issued a $8.00 price objective on shares of Planet Labs PBC in a research note on Monday. Cantor Fitzgerald restated an "overweight" rating and set a $6.30 target price on shares of Planet Labs PBC in a research report on Friday. Finally, Craig Hallum upgraded Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 target price for the company in a report on Thursday, January 30th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Planet Labs PBC has an average rating of "Buy" and an average target price of $6.27.
Get Our Latest Stock Analysis on PL
About Planet Labs PBC
(
Free Report)
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.
Featured Stories
Before you consider Planet Labs PBC, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Planet Labs PBC wasn't on the list.
While Planet Labs PBC currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
