Quinn Opportunity Partners LLC trimmed its stake in shares of Planet Labs PBC (NYSE:PL - Free Report) by 45.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 185,000 shares of the company's stock after selling 156,062 shares during the quarter. Quinn Opportunity Partners LLC owned about 0.06% of Planet Labs PBC worth $747,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of PL. JPMorgan Chase & Co. raised its holdings in Planet Labs PBC by 90.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 388,129 shares of the company's stock worth $866,000 after purchasing an additional 184,111 shares during the last quarter. Aspiring Ventures LLC acquired a new stake in shares of Planet Labs PBC during the 4th quarter worth approximately $849,000. Barclays PLC increased its stake in shares of Planet Labs PBC by 25.0% in the 3rd quarter. Barclays PLC now owns 326,147 shares of the company's stock valued at $728,000 after acquiring an additional 65,181 shares in the last quarter. State Street Corp boosted its stake in Planet Labs PBC by 5.7% during the third quarter. State Street Corp now owns 4,272,633 shares of the company's stock worth $9,528,000 after acquiring an additional 230,076 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Planet Labs PBC by 16.5% in the third quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company's stock valued at $10,864,000 after purchasing an additional 689,888 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on PL shares. JMP Securities increased their target price on shares of Planet Labs PBC from $4.50 to $6.50 and gave the company a "market outperform" rating in a report on Thursday, January 30th. Northland Securities upped their target price on Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Needham & Company LLC restated a "buy" rating and issued a $8.00 price objective on shares of Planet Labs PBC in a research note on Monday, March 24th. Benchmark raised their price objective on shares of Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $6.30 price target on shares of Planet Labs PBC in a research report on Friday, March 21st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $5.98.
Read Our Latest Research Report on Planet Labs PBC
Planet Labs PBC Trading Up 1.1 %
PL stock traded up $0.04 during midday trading on Thursday, hitting $3.23. The company had a trading volume of 1,079,167 shares, compared to its average volume of 3,481,862. The stock has a market cap of $974.76 million, a price-to-earnings ratio of -7.84 and a beta of 1.56. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $6.71. The stock's 50 day moving average price is $4.23 and its 200 day moving average price is $3.82.
Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly 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). Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. The business had revenue of $61.55 million for the quarter, compared to analysts' expectations of $61.89 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. Analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current year.
Planet Labs PBC Company Profile
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Free Report)
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.
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