Walleye Capital LLC Has $48,000 Stock Position in Planet Labs PBC (NYSE:PL)

Walleye Capital LLC cut its stake in Planet Labs PBC (NYSE:PL - Free Report) by 86.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,950 shares of the company's stock after selling 74,313 shares during the period. Walleye Capital LLC's holdings in Planet Labs PBC were worth $48,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its holdings in shares of Planet Labs PBC by 790.6% during the fourth quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock valued at $28,000 after purchasing an additional 6,072 shares during the period. Monterey Private Wealth Inc. acquired a new position in Planet Labs PBC during the fourth quarter worth about $40,000. Wedbush Securities Inc. bought a new stake in Planet Labs PBC in the fourth quarter worth about $41,000. SBI Securities Co. Ltd. bought a new position in shares of Planet Labs PBC during the 4th quarter valued at about $42,000. Finally, Sciencast Management LP acquired a new stake in Planet Labs PBC during the fourth quarter valued at approximately $43,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $6.30 target price on shares of Planet Labs PBC in a research note on Friday, March 21st. Needham & Company LLC restated a "buy" rating and issued a $8.00 price target on shares of Planet Labs PBC in a research report on Monday, March 24th. Craig Hallum upgraded 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. JMP Securities upped 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 research report on Thursday, January 30th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $3.50 price target (down previously from $6.00) on shares of Planet Labs PBC in a research report on Friday, April 11th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Planet Labs PBC has a consensus rating of "Moderate Buy" and a consensus target price of $5.98.

Planet Labs PBC Trading Up 0.6 %

PL stock traded up $0.02 during midday trading on Tuesday, reaching $3.43. The company had a trading volume of 2,228,485 shares, compared to its average volume of 3,556,862. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $6.71. The company has a market capitalization of $1.04 billion, a P/E ratio of -8.37 and a beta of 1.56. The company has a 50 day moving average of $3.73 and a two-hundred day moving average of $3.89.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. The company had revenue of $61.55 million during the quarter, compared to analysts' expectations of $61.89 million. During the same quarter in the previous year, the company earned ($0.06) EPS. On average, sell-side analysts anticipate that Planet Labs PBC will post -0.37 earnings per share 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.