Investors Purchase Large Volume of Planet Labs PBC Call Options (NYSE:PL)

Planet Labs PBC (NYSE:PL - Get Free Report) was the target of unusually large options trading activity on Tuesday. Traders acquired 12,533 call options on the stock. This is an increase of approximately 85% compared to the typical volume of 6,758 call options.

Institutional Trading of Planet Labs PBC

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC lifted its holdings in Planet Labs PBC by 790.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock worth $28,000 after purchasing an additional 6,072 shares during the last quarter. Monterey Private Wealth Inc. bought a new stake in shares of Planet Labs PBC during the 4th quarter worth $40,000. Wedbush Securities Inc. acquired a new position in Planet Labs PBC in the 4th quarter valued at $41,000. SBI Securities Co. Ltd. acquired a new position in Planet Labs PBC during the 4th quarter worth $42,000. Finally, Sciencast Management LP bought a new stake in Planet Labs PBC during the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 41.71% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PL shares. The Goldman Sachs Group reissued a "neutral" rating and issued a $3.50 price objective (down previously from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 price target on shares of Planet Labs PBC in a report on Monday, March 24th. Northland Securities raised their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. JMP Securities boosted their target price on 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. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $6.30 price target on shares of Planet Labs PBC in a research note on Friday, March 21st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $5.98.

Planet Labs PBC Trading Up 1.1 %

PL stock traded up $0.04 during mid-day trading on Friday, hitting $3.23. The stock had a trading volume of 2,322,803 shares, compared to its average volume of 3,508,505. The stock has a market capitalization of $974.76 million, a price-to-earnings ratio of -7.87 and a beta of 1.56. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $6.71. The company has a fifty day moving average of $4.11 and a 200 day moving average of $3.84.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share (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 business had revenue of $61.55 million during the quarter, compared to analyst estimates of $61.89 million. During the same quarter last year, the firm earned ($0.06) earnings per share. As a group, sell-side analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

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.