157,942 Shares in Planet Labs PBC (NYSE:PL) Acquired by Jennison Associates LLC

Jennison Associates LLC acquired a new position in shares of Planet Labs PBC (NYSE:PL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 157,942 shares of the company's stock, valued at approximately $638,000. Jennison Associates LLC owned about 0.05% of Planet Labs PBC at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Squarepoint Ops LLC raised its holdings in Planet Labs PBC by 343.7% during the 2nd quarter. Squarepoint Ops LLC now owns 172,092 shares of the company's stock worth $320,000 after purchasing an additional 133,307 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Planet Labs PBC by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company's stock worth $134,000 after buying an additional 5,395 shares during the last quarter. Algert Global LLC bought a new position in Planet Labs PBC in the second quarter valued at approximately $38,000. SG Americas Securities LLC grew its holdings in Planet Labs PBC by 65.9% during the 3rd quarter. SG Americas Securities LLC now owns 73,723 shares of the company's stock worth $164,000 after acquiring an additional 29,281 shares during the period. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Planet Labs PBC during the 3rd quarter valued at $45,000. Institutional investors own 41.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PL shares. JMP Securities raised their price target 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. Craig Hallum upgraded shares of Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price objective for the company in a report on Thursday, January 30th. The Goldman Sachs Group lifted their price target on shares of Planet Labs PBC from $5.00 to $6.40 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Benchmark upped their price objective on shares of Planet Labs PBC from $4.00 to $7.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Finally, Citigroup raised their price target on Planet Labs PBC from $4.05 to $5.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $6.27.

Planet Labs PBC Stock Performance

Planet Labs PBC stock traded down $0.31 during mid-day trading on Tuesday, reaching $6.19. The company's stock had a trading volume of 4,868,794 shares, compared to its average volume of 6,774,798. The business's 50 day simple moving average is $4.52 and its 200 day simple moving average is $3.20. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $6.71. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -15.09 and a beta of 1.40.

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.