Vanguard Group Inc. Purchases 397,153 Shares of Planet Labs PBC (NYSE:PL)

Vanguard Group Inc. boosted its holdings in Planet Labs PBC (NYSE:PL - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,952,394 shares of the company's stock after buying an additional 397,153 shares during the quarter. Vanguard Group Inc. owned 5.38% of Planet Labs PBC worth $64,448,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in shares of Planet Labs PBC by 90.2% during the third quarter. JPMorgan Chase & Co. now owns 388,129 shares of the company's stock valued at $866,000 after acquiring an additional 184,111 shares during the period. Aspiring Ventures LLC acquired a new stake in Planet Labs PBC during the 4th quarter valued at $849,000. Barclays PLC boosted its position in shares of Planet Labs PBC by 25.0% in the third quarter. Barclays PLC now owns 326,147 shares of the company's stock worth $728,000 after buying an additional 65,181 shares during the period. State Street Corp grew its holdings in shares of Planet Labs PBC by 5.7% during the third quarter. State Street Corp now owns 4,272,633 shares of the company's stock valued at $9,528,000 after buying an additional 230,076 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Planet Labs PBC by 16.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company's stock worth $10,864,000 after acquiring an additional 689,888 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company's stock.

Planet Labs PBC Trading Down 1.1 %

PL traded down $0.04 during midday trading on Thursday, reaching $3.16. The company's stock had a trading volume of 460,721 shares, compared to its average volume of 5,432,625. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $6.71. The stock has a market cap of $953.60 million, a P/E ratio of -7.70 and a beta of 1.56. The company has a fifty day simple moving average of $4.23 and a 200 day simple moving average of $3.82.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced 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). The company had revenue of $61.55 million for the quarter, compared to the consensus estimate of $61.89 million. Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. During the same period last year, the firm posted ($0.06) EPS. Sell-side analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PL shares. The Goldman Sachs Group reiterated a "neutral" rating and issued a $3.50 target price (down previously from $6.00) on shares of Planet Labs PBC in a report on Friday, April 11th. Needham & Company LLC reissued a "buy" rating and set a $8.00 price objective on shares of Planet Labs PBC in a research report on Monday, March 24th. Northland Securities upped their target price on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. JMP Securities boosted their price target on 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. Finally, Craig Hallum raised shares of Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price objective on the stock in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $5.98.

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.