Planet Labs PBC (NYSE:PL) Stock Holdings Increased by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in Planet Labs PBC (NYSE:PL - Free Report) by 244.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 520,364 shares of the company's stock after buying an additional 369,206 shares during the period. Van ECK Associates Corp owned approximately 0.18% of Planet Labs PBC worth $2,102,000 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. SG Americas Securities LLC increased its stake in Planet Labs PBC by 65.9% in the third quarter. SG Americas Securities LLC now owns 73,723 shares of the company's stock valued at $164,000 after purchasing an additional 29,281 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of Planet Labs PBC by 81.5% in the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company's stock valued at $50,000 after acquiring an additional 10,000 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in Planet Labs PBC by 24.5% during the third quarter. Conestoga Capital Advisors LLC now owns 495,450 shares of the company's stock worth $1,105,000 after buying an additional 97,350 shares during the period. King Luther Capital Management Corp increased its stake in Planet Labs PBC by 13.8% in the 3rd quarter. King Luther Capital Management Corp now owns 455,000 shares of the company's stock valued at $1,015,000 after purchasing an additional 55,000 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Planet Labs PBC in the 3rd quarter worth about $135,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

Planet Labs PBC Trading Down 5.7 %

PL traded down $0.29 on Monday, reaching $4.69. The company had a trading volume of 4,876,714 shares, compared to its average volume of 6,503,558. Planet Labs PBC has a one year low of $1.67 and a one year high of $6.71. The company has a fifty day moving average of $4.85 and a 200-day moving average of $3.45. The company has a market capitalization of $1.39 billion, a P/E ratio of -11.43 and a beta of 1.40.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective 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. Citigroup boosted their target price on shares of Planet Labs PBC from $4.05 to $5.00 and gave the company a "buy" rating in a report on Monday, December 16th. The Goldman Sachs Group boosted their target price on shares of Planet Labs PBC from $5.00 to $6.40 and gave the company a "buy" rating in a report on Monday, February 3rd. JMP Securities boosted their price objective on shares of Planet Labs PBC from $4.50 to $6.50 and gave the stock a "market outperform" rating in a research note on Thursday, January 30th. Finally, Craig Hallum upgraded shares of Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price objective for the company in a research note on Thursday, January 30th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $6.27.

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.