IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 189,125 Shares of Planet Labs PBC (NYSE:PL)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its position in shares of Planet Labs PBC (NYSE:PL - Free Report) by 55.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,667 shares of the company's stock after selling 189,125 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.05% of Planet Labs PBC worth $609,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Monterey Private Wealth Inc. bought a new position in Planet Labs PBC during the fourth quarter valued at $40,000. SBI Securities Co. Ltd. bought a new position in shares of Planet Labs PBC in the 4th quarter valued at about $42,000. Sciencast Management LP purchased a new position in Planet Labs PBC in the fourth quarter worth about $43,000. PFG Investments LLC bought a new stake in Planet Labs PBC during the fourth quarter worth approximately $55,000. Finally, Xponance Inc. raised its position in Planet Labs PBC by 12.0% during the fourth quarter. Xponance Inc. now owns 14,959 shares of the company's stock valued at $60,000 after purchasing an additional 1,608 shares during the period. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Price Performance

PL stock traded up $0.15 during mid-day trading on Wednesday, reaching $3.58. The company had a trading volume of 1,489,852 shares, compared to its average volume of 3,349,479. The company has a market capitalization of $1.06 billion, a PE ratio of -8.74 and a beta of 1.45. The firm has a 50 day moving average of $4.85 and a 200 day moving average of $3.75. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $6.71.

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Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly 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). The firm had revenue of $61.55 million during the quarter, compared to analysts' expectations 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 quarter in the previous year, the firm posted ($0.06) EPS. Analysts anticipate that Planet Labs PBC will post -0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PL shares. 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. Benchmark lifted their price objective on shares of Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. JMP Securities increased their target price on shares of Planet Labs PBC from $4.50 to $6.50 and gave the company a "market outperform" rating in a research note on Thursday, January 30th. Citigroup lifted their price target on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $6.30 price target on shares of Planet Labs PBC in a report on Friday, March 21st. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Planet Labs PBC presently has an average rating of "Buy" and a consensus target price of $6.27.

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.