Dimensional Fund Advisors LP Trims Stock Position in Planet Labs PBC (NYSE:PL)

Dimensional Fund Advisors LP lowered its stake in Planet Labs PBC (NYSE:PL - Free Report) by 28.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 729,520 shares of the company's stock after selling 290,452 shares during the period. Dimensional Fund Advisors LP owned 0.25% of Planet Labs PBC worth $1,357,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Planet Labs PBC during the 2nd quarter valued at $632,000. Vanguard Group Inc. boosted its stake in shares of Planet Labs PBC by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 18,537,261 shares of the company's stock worth $47,270,000 after buying an additional 261,019 shares during the last quarter. PEAK6 Investments LLC boosted its stake in shares of Planet Labs PBC by 224.2% in the 1st quarter. PEAK6 Investments LLC now owns 300,120 shares of the company's stock worth $765,000 after buying an additional 207,558 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Planet Labs PBC by 26.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 511,976 shares of the company's stock worth $1,306,000 after buying an additional 106,083 shares during the last quarter. Finally, ARS Investment Partners LLC purchased a new position in shares of Planet Labs PBC in the 2nd quarter worth $164,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PL shares. Needham & Company LLC decreased their target price on Planet Labs PBC from $7.00 to $5.00 and set a "buy" rating on the stock in a report on Friday, September 6th. Wedbush reaffirmed an "outperform" rating and issued a $5.00 target price on shares of Planet Labs PBC in a report on Friday, August 16th. The Goldman Sachs Group decreased their target price on Planet Labs PBC from $3.50 to $3.10 and set a "buy" rating on the stock in a report on Tuesday, September 10th. JMP Securities reaffirmed a "market outperform" rating and issued a $4.00 target price on shares of Planet Labs PBC in a report on Thursday, September 26th. Finally, Craig Hallum raised their target price on Planet Labs PBC from $2.00 to $2.50 and gave the stock a "hold" rating in a report on Friday, September 6th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Planet Labs PBC currently has a consensus rating of "Moderate Buy" and a consensus price target of $3.93.

Planet Labs PBC Stock Up 7.6 %

NYSE:PL traded up $0.16 on Friday, reaching $2.26. 1,474,017 shares of the company's stock traded hands, compared to its average volume of 1,734,376. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $2.89. The stock has a 50-day simple moving average of $2.27 and a 200-day simple moving average of $2.09. The firm has a market cap of $663.26 million, a PE ratio of -4.81 and a beta of 0.98.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its earnings results on Thursday, September 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Planet Labs PBC had a negative return on equity of 26.87% and a negative net margin of 57.71%. The firm had revenue of $61.09 million during the quarter, compared to the consensus estimate of $61.57 million. On average, equities analysts anticipate that Planet Labs PBC will post -0.4 earnings per share for the current year.

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.