American Century Companies Inc. Acquires 118,563 Shares of Planet Labs PBC (NYSE:PL)

American Century Companies Inc. lifted its position in Planet Labs PBC (NYSE:PL - Free Report) by 31.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 492,218 shares of the company's stock after buying an additional 118,563 shares during the quarter. American Century Companies Inc. owned about 0.17% of Planet Labs PBC worth $1,989,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Monterey Private Wealth Inc. bought a new stake in shares of Planet Labs PBC in the fourth quarter valued at approximately $40,000. SBI Securities Co. Ltd. bought a new stake in shares of Planet Labs PBC in the 4th quarter worth approximately $42,000. Sciencast Management LP acquired a new stake in shares of Planet Labs PBC during the 4th quarter valued at about $43,000. PFG Investments LLC bought a new stake in Planet Labs PBC in the fourth quarter valued at about $55,000. Finally, Xponance Inc. increased its stake in Planet Labs PBC by 12.0% in the fourth quarter. Xponance Inc. now owns 14,959 shares of the company's stock valued at $60,000 after acquiring an additional 1,608 shares during the period. Institutional investors and hedge funds own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. JMP Securities upped their price target on Planet Labs PBC from $4.50 to $6.50 and gave the company a "market outperform" rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Planet Labs PBC from $4.00 to $4.50 and gave the stock a "buy" rating in a report on Tuesday, December 17th. Craig Hallum raised Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price target for the company in a report on Thursday, January 30th. Citigroup boosted their price objective on 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, Benchmark increased their target price on Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Planet Labs PBC currently has an average rating of "Moderate Buy" and a consensus price target of $5.98.

Planet Labs PBC Stock Down 5.8 %

Shares of PL traded down $0.20 during mid-day trading on Friday, hitting $3.17. 4,173,474 shares of the company's stock were exchanged, compared to its average volume of 3,486,902. The firm has a market cap of $956.62 million, a price-to-earnings ratio of -7.72 and a beta of 1.56. The stock's 50-day simple moving average is $4.41 and its 200-day simple moving average is $3.82. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $6.71.

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 the consensus estimate 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 in the prior year, the business earned ($0.06) earnings per share. Analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

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.