XTX Topco Ltd Raises Stock Holdings in Planet Labs PBC (NYSE:PL)

XTX Topco Ltd grew its position in Planet Labs PBC (NYSE:PL - Free Report) by 51.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 257,074 shares of the company's stock after purchasing an additional 87,869 shares during the quarter. XTX Topco Ltd owned approximately 0.09% of Planet Labs PBC worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Xponance Inc. boosted its stake in Planet Labs PBC by 12.0% in the 4th quarter. Xponance Inc. now owns 14,959 shares of the company's stock worth $60,000 after purchasing an additional 1,608 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Planet Labs PBC by 19.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 22,577 shares of the company's stock worth $91,000 after acquiring an additional 3,753 shares during the last quarter. Sterling Capital Management LLC grew its stake in 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 acquiring an additional 6,072 shares in the last quarter. Monterey Private Wealth Inc. bought a new stake in Planet Labs PBC in the 4th quarter valued at $40,000. Finally, Wedbush Securities Inc. purchased a new stake in Planet Labs PBC in the 4th quarter worth $41,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Benchmark lifted their target price on Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 price objective on shares of Planet Labs PBC in a research note on Monday, March 24th. JMP Securities raised their target price on shares of Planet Labs PBC from $4.50 to $6.50 and gave the company a "market outperform" rating in a report on Thursday, January 30th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $3.50 price target (down previously from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Finally, Northland Securities upped their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $5.98.

Planet Labs PBC Trading Up 1.1 %

Shares of NYSE PL traded up $0.04 during midday trading on Friday, hitting $3.23. The company's stock had a trading volume of 2,322,803 shares, compared to its average volume of 3,508,505. Planet Labs PBC has a 12-month low of $1.67 and a 12-month high of $6.71. The firm has a market cap of $974.76 million, a P/E ratio of -7.87 and a beta of 1.56. The business's 50 day moving average is $4.11 and its two-hundred day moving average is $3.84.

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 for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The business had revenue of $61.55 million for the quarter, compared to the consensus estimate of $61.89 million. Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. During the same quarter last year, the business posted ($0.06) earnings per share. On average, analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

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.