Perigon Wealth Management LLC Decreases Holdings in Planet Labs PBC (NYSE:PL)

Perigon Wealth Management LLC trimmed its stake in shares of Planet Labs PBC (NYSE:PL) by 14.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 97,000 shares of the company’s stock after selling 16,100 shares during the quarter. Perigon Wealth Management LLC’s holdings in Planet Labs PBC were worth $240,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank lifted its holdings in Planet Labs PBC by 1.4% during the third quarter. Swiss National Bank now owns 420,300 shares of the company’s stock valued at $1,093,000 after purchasing an additional 5,800 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Planet Labs PBC by 8.9% during the third quarter. Exchange Traded Concepts LLC now owns 928,654 shares of the company’s stock valued at $2,414,000 after purchasing an additional 75,820 shares in the last quarter. Barclays PLC lifted its holdings in Planet Labs PBC by 263.5% during the third quarter. Barclays PLC now owns 262,813 shares of the company’s stock valued at $683,000 after purchasing an additional 190,510 shares in the last quarter. Bleakley Financial Group LLC purchased a new position in Planet Labs PBC during the fourth quarter valued at $28,000. Finally, Jeppson Wealth Management LLC purchased a new position in Planet Labs PBC during the fourth quarter valued at $44,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PL. JMP Securities decreased their price target on shares of Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating on the stock in a research note on Monday, April 1st. Benchmark decreased their price target on shares of Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. Needham & Company LLC reissued a “buy” rating and issued a $7.00 price target on shares of Planet Labs PBC in a research note on Monday, April 1st. Citigroup decreased their price target on shares of Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group decreased their price target on shares of Planet Labs PBC from $4.80 to $4.20 and set a “buy” rating on the stock in a research note on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.68.

Planet Labs PBC Trading Up 1.2 %

Planet Labs PBC stock opened at $1.75 on Thursday. Planet Labs PBC has a 12-month low of $1.71 and a 12-month high of $5.00. The stock has a market cap of $508.59 million, a P/E ratio of -3.43 and a beta of 0.79. The company has a 50-day moving average price of $2.21 and a 200 day moving average price of $2.29.

Planet Labs PBC Company Profile

Planet Labs PBC designs, constructs, and launches constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company offers planet monitoring, basemap, tasking, apps, variables, hyperspectral, analytic feeds, and platform, as well as planet professional services including launch program, architectural workshop, planet training, integration and data services, and quick start services; and technical support services, which includes planet help center, developer resource center, and planet community and university.