Raymond James Financial Inc. Invests $1.65 Million in Planet Labs PBC (NYSE:PL)

Raymond James Financial Inc. purchased a new position in shares of Planet Labs PBC (NYSE:PL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 408,037 shares of the company's stock, valued at approximately $1,648,000. Raymond James Financial Inc. owned approximately 0.14% of Planet Labs PBC at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PL. Monterey Private Wealth Inc. acquired a new position in Planet Labs PBC during the 4th quarter valued at about $40,000. SBI Securities Co. Ltd. acquired a new position in shares of Planet Labs PBC during the fourth quarter valued at about $42,000. The Manufacturers Life Insurance Company raised its position in shares of Planet Labs PBC by 17.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 84,254 shares of the company's stock valued at $188,000 after purchasing an additional 12,404 shares during the last quarter. PFG Investments LLC acquired a new stake in Planet Labs PBC in the 4th quarter worth approximately $55,000. Finally, Rhumbline Advisers grew its position in 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 purchasing an additional 13,580 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company's stock.

Wall Street Analysts Forecast Growth

PL has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a "buy" rating in a research note on Tuesday, December 17th. Benchmark boosted their price target on Planet Labs PBC from $4.00 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. The Goldman Sachs Group raised their price objective on Planet Labs PBC from $5.00 to $6.40 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Citigroup upped their target price on Planet Labs PBC from $4.05 to $5.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Finally, Craig Hallum raised shares of Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price target for the company in a research report on Thursday, January 30th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Planet Labs PBC currently has an average rating of "Buy" and an average price target of $6.27.

Planet Labs PBC Stock Down 5.5 %

Shares of NYSE:PL traded down $0.19 during trading on Friday, reaching $3.17. 5,632,127 shares of the company's stock traded hands, compared to its average volume of 3,398,183. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week high of $6.71. The company has a 50-day simple moving average of $4.76 and a 200-day simple moving average of $3.77. The firm has a market cap of $956.62 million, a PE ratio of -7.72 and a beta of 1.56.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The business had revenue of $61.55 million during the quarter, compared to analyst estimates of $61.89 million. Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. During the same period in the previous year, the business posted ($0.06) earnings per share. On average, equities research analysts forecast that Planet Labs PBC will post -0.37 EPS for the current year.

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.