State Street Corp Acquires 230,076 Shares of Planet Labs PBC (NYSE:PL)

State Street Corp boosted its holdings in shares of Planet Labs PBC (NYSE:PL - Free Report) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,272,633 shares of the company's stock after purchasing an additional 230,076 shares during the period. State Street Corp owned about 1.46% of Planet Labs PBC worth $9,528,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC bought a new stake in shares of Planet Labs PBC in the 3rd quarter worth about $45,000. Algert Global LLC bought a new stake in Planet Labs PBC during the 2nd quarter worth approximately $38,000. Vontobel Holding Ltd. increased its holdings in Planet Labs PBC by 81.5% during the 3rd 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 in the last quarter. nVerses Capital LLC acquired a new position in Planet Labs PBC in the third quarter worth $61,000. Finally, Intech Investment Management LLC bought a new stake in shares of Planet Labs PBC during the third quarter worth $135,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PL has been the topic of a number of recent research reports. Craig Hallum increased their price objective on Planet Labs PBC from $2.50 to $3.50 and gave the company a "hold" rating in a research report on Tuesday, December 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $5.00 target price on shares of Planet Labs PBC in a research note on Tuesday, December 10th. Citigroup boosted their price target on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. JMP Securities reaffirmed a "market outperform" rating and issued a $4.50 price objective (up from $4.00) on shares of Planet Labs PBC in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a "buy" rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Planet Labs PBC has a consensus rating of "Moderate Buy" and a consensus price target of $4.33.

Planet Labs PBC Price Performance

NYSE:PL traded down $0.14 on Friday, hitting $4.38. 4,519,530 shares of the company's stock were exchanged, compared to its average volume of 2,273,225. The company has a market cap of $1.30 billion, a P/E ratio of -10.68 and a beta of 1.34. The firm has a 50-day moving average price of $3.34 and a 200-day moving average price of $2.58. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $4.99.

About Planet Labs PBC

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.