Wells Fargo & Company MN increased its position in Planet Labs PBC (NYSE:PL - Free Report) by 129.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 346,631 shares of the company's stock after purchasing an additional 195,471 shares during the quarter. Wells Fargo & Company MN owned approximately 0.12% of Planet Labs PBC worth $1,400,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in Planet Labs PBC by 227.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,269,095 shares of the company's stock valued at $5,127,000 after buying an additional 880,966 shares in the last quarter. Geode Capital Management LLC boosted its position in Planet Labs PBC by 16.5% in the third quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company's stock valued at $10,864,000 after buying an additional 689,888 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Planet Labs PBC in the fourth quarter valued at about $1,648,000. Vanguard Group Inc. boosted its position in Planet Labs PBC by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 15,952,394 shares of the company's stock valued at $64,448,000 after buying an additional 397,153 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Planet Labs PBC by 67.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 933,888 shares of the company's stock valued at $3,941,000 after buying an additional 375,256 shares in the last quarter. 41.71% of the stock is owned by institutional investors.
Planet Labs PBC Price Performance
PL opened at $3.39 on Monday. 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 market cap of $1.02 billion, a price-to-earnings ratio of -8.27 and a beta of 1.56. The firm has a 50 day simple moving average of $3.81 and a 200 day simple moving average of $3.89.
Planet Labs PBC (NYSE:PL - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. The firm had revenue of $61.55 million during the quarter, compared to the consensus estimate of $61.89 million. During the same period in the previous year, the company posted ($0.06) EPS. As a group, analysts expect that Planet Labs PBC will post -0.37 EPS for the current year.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. Northland Securities boosted 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. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $3.50 target price (down from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $6.30 target price on shares of Planet Labs PBC in a research note on Friday, March 21st. JMP Securities boosted their target price 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 raised 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 analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $5.98.
View Our Latest Report on PL
Planet Labs PBC Company Profile
(
Free Report)
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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