Planet Labs PBC (NYSE:PL) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. boosted its stake in Planet Labs PBC (NYSE:PL - Free Report) by 119.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 895,109 shares of the company's stock after buying an additional 487,958 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.30% of Planet Labs PBC worth $1,996,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Algert Global LLC acquired a new stake in Planet Labs PBC during the second quarter worth approximately $38,000. Valeo Financial Advisors LLC acquired a new stake in shares of Planet Labs PBC during the third quarter worth $45,000. Vontobel Holding Ltd. grew its position in shares of Planet Labs PBC by 81.5% in the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company's stock valued at $50,000 after purchasing an additional 10,000 shares during the period. nVerses Capital LLC acquired a new position in Planet Labs PBC in the third quarter valued at $61,000. Finally, SG Americas Securities LLC lifted its position in Planet Labs PBC by 234.6% during the second quarter. SG Americas Securities LLC now owns 44,442 shares of the company's stock worth $83,000 after buying an additional 31,160 shares during the period. Hedge funds and other institutional investors own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on PL shares. Craig Hallum lifted their price target on Planet Labs PBC from $2.00 to $2.50 and gave the company a "hold" rating in a report on Friday, September 6th. Needham & Company LLC cut their price target on shares of Planet Labs PBC from $7.00 to $5.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. The Goldman Sachs Group lowered their price objective on shares of Planet Labs PBC from $3.50 to $3.10 and set a "buy" rating for the company in a research note on Tuesday, September 10th. JMP Securities reiterated a "market outperform" rating and set a $4.00 target price on shares of Planet Labs PBC in a report on Thursday, September 26th. Finally, Wedbush restated an "outperform" rating and issued a $5.00 price target on shares of Planet Labs PBC in a report on Friday, August 16th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Planet Labs PBC has a consensus rating of "Moderate Buy" and an average price target of $3.93.

Planet Labs PBC Price Performance

Planet Labs PBC stock traded up $0.07 during midday trading on Friday, hitting $4.16. 4,684,007 shares of the company were exchanged, compared to its average volume of 4,951,129. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week high of $4.99. The company's fifty day moving average price is $2.79 and its 200-day moving average price is $2.36. The company has a market cap of $1.22 billion, a PE ratio of -8.85 and a beta of 1.34.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its earnings results on Thursday, September 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Planet Labs PBC had a negative net margin of 57.71% and a negative return on equity of 26.87%. The firm had revenue of $61.09 million during the quarter, compared to analysts' expectations of $61.57 million. On average, analysts expect that Planet Labs PBC will post -0.41 EPS for the current fiscal 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.