Raymond James Financial Inc. Takes Position in Planet Labs PBC (NYSE:PL)

Raymond James Financial Inc. acquired a new stake in Planet Labs PBC (NYSE:PL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 408,037 shares of the company's stock, valued at approximately $1,648,000. Raymond James Financial Inc. owned about 0.14% of Planet Labs PBC as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Planet Labs PBC by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,770,146 shares of the company's stock worth $7,151,000 after purchasing an additional 37,600 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Planet Labs PBC during the fourth quarter worth about $42,000. Crown Wealth Group LLC bought a new position in Planet Labs PBC in the 4th quarter valued at about $78,000. Bank of New York Mellon Corp raised its position in shares of Planet Labs PBC by 4.3% in the 4th quarter. Bank of New York Mellon Corp now owns 573,055 shares of the company's stock valued at $2,315,000 after buying an additional 23,861 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Planet Labs PBC by 5.0% during the 4th quarter. Rhumbline Advisers now owns 287,258 shares of the company's stock worth $1,161,000 after acquiring an additional 13,580 shares during the period. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Price Performance

Shares of PL stock traded down $0.24 on Thursday, reaching $3.35. 3,652,015 shares of the company were exchanged, compared to its average volume of 3,372,961. The company has a 50-day moving average of $4.84 and a 200-day moving average of $3.75. The company has a market cap of $992.49 million, a price-to-earnings ratio of -8.16 and a beta of 1.45. Planet Labs PBC has a one year low of $1.67 and a one year high of $6.71.

Remove Ads

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) 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 firm had revenue of $61.55 million during the quarter, compared to analyst estimates of $61.89 million. During the same period last year, the business posted ($0.06) EPS. As a group, sell-side analysts predict that Planet Labs PBC will post -0.37 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on PL shares. The Goldman Sachs Group boosted their price objective on shares of Planet Labs PBC from $5.00 to $6.40 and gave the company a "buy" rating in a research report on Monday, February 3rd. Cantor Fitzgerald restated an "overweight" rating and set a $6.30 price objective on shares of Planet Labs PBC in a research report on Friday, March 21st. Craig Hallum upgraded Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 target price on the stock in a research report on Thursday, January 30th. JMP Securities lifted their price target 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $8.00 price target on shares of Planet Labs PBC in a research note on Monday, March 24th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $6.27.

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.