Renaissance Technologies LLC Boosts Position in Planet Labs PBC (NYSE:PL)

Renaissance Technologies LLC raised its stake in Planet Labs PBC (NYSE:PL - Free Report) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 850,600 shares of the company's stock after purchasing an additional 85,600 shares during the period. Renaissance Technologies LLC owned 0.29% of Planet Labs PBC worth $3,436,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Monterey Private Wealth Inc. acquired a new position in Planet Labs PBC during the fourth quarter worth approximately $40,000. Wedbush Securities Inc. acquired a new position in shares of Planet Labs PBC in the 4th quarter valued at $41,000. SBI Securities Co. Ltd. purchased a new stake in Planet Labs PBC in the 4th quarter valued at $42,000. Sciencast Management LP acquired a new stake in Planet Labs PBC during the 4th quarter worth $43,000. Finally, PFG Investments LLC purchased a new position in Planet Labs PBC during the 4th quarter worth $55,000. Institutional investors and hedge funds own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

PL has been the subject of several recent research reports. Northland Securities increased their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. JMP Securities lifted their target price on Planet Labs PBC from $4.50 to $6.50 and gave the company a "market outperform" rating in a research note on Thursday, January 30th. Benchmark upped their price target on Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. The Goldman Sachs Group reissued a "neutral" rating and issued a $3.50 price objective (down from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Finally, Craig Hallum upgraded shares of Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 target price for the company in a research note on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $5.98.

Planet Labs PBC Trading Up 3.0 %

Shares of PL opened at $3.05 on Wednesday. The firm's 50-day moving average is $3.98 and its two-hundred day moving average is $3.85. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $6.71. The firm has a market capitalization of $921.87 million, a P/E ratio of -7.44 and a beta of 1.56.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $61.55 million during the quarter, compared to analysts' expectations 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 earned ($0.06) earnings per share. Analysts predict that Planet Labs PBC will post -0.37 EPS for the current 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.

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