Mitsubishi UFJ Asset Management Co. Ltd. Has $3.94 Million Stock Holdings in Planet Labs PBC (NYSE:PL)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Planet Labs PBC (NYSE:PL - Free Report) by 67.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 933,888 shares of the company's stock after buying an additional 375,256 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.31% of Planet Labs PBC worth $3,941,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Monterey Private Wealth Inc. bought a new position in shares of Planet Labs PBC in the fourth quarter worth $40,000. SBI Securities Co. Ltd. bought a new stake in shares of Planet Labs PBC during the 4th quarter worth about $42,000. Sciencast Management LP bought a new position in shares of Planet Labs PBC in the fourth quarter valued at approximately $43,000. PFG Investments LLC acquired a new position in shares of Planet Labs PBC during the fourth quarter valued at approximately $55,000. Finally, Xponance Inc. raised its holdings in Planet Labs PBC by 12.0% during the fourth quarter. Xponance Inc. now owns 14,959 shares of the company's stock worth $60,000 after purchasing an additional 1,608 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

Planet Labs PBC Price Performance

Shares of PL stock traded down $0.19 on Friday, hitting $3.17. The company's stock had a trading volume of 5,632,127 shares, compared to its average volume of 3,398,183. The stock has a market capitalization of $956.62 million, a price-to-earnings ratio of -7.72 and a beta of 1.56. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week high of $6.71. The firm's fifty day moving average price is $4.76 and its 200-day moving average price is $3.77.

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Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) earnings per share 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 the consensus estimate 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 business posted ($0.06) earnings per share. Analysts predict that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Cantor Fitzgerald restated an "overweight" rating and issued a $6.30 price objective on shares of Planet Labs PBC in a report on Friday, March 21st. Northland Securities increased their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Craig Hallum raised 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 research note on Thursday, January 30th. Citigroup lifted their price objective on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Finally, The Goldman Sachs Group increased their target price on Planet Labs PBC from $5.00 to $6.40 and gave the company a "buy" rating in a report on Monday, February 3rd. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, Planet Labs PBC currently has an average rating of "Buy" and a consensus target price of $6.27.

Planet Labs PBC Company 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.