SG Americas Securities LLC Acquires New Shares in Planet Labs PBC (NYSE:PL)

SG Americas Securities LLC acquired a new stake in shares of Planet Labs PBC (NYSE:PL) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 53,305 shares of the company’s stock, valued at approximately $132,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Planet Labs PBC by 175.6% in the 3rd quarter. Vanguard Group Inc. now owns 16,887,991 shares of the company’s stock valued at $91,702,000 after purchasing an additional 10,759,901 shares during the period. BlackRock Inc. purchased a new position in shares of Planet Labs PBC in the 1st quarter valued at approximately $23,671,000. State Street Corp lifted its stake in shares of Planet Labs PBC by 580.7% in the 2nd quarter. State Street Corp now owns 4,064,196 shares of the company’s stock valued at $17,598,000 after purchasing an additional 3,467,126 shares during the period. Northern Trust Corp lifted its stake in shares of Planet Labs PBC by 352.8% in the 2nd quarter. Northern Trust Corp now owns 1,418,888 shares of the company’s stock valued at $6,144,000 after purchasing an additional 1,105,535 shares during the period. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Planet Labs PBC in the 1st quarter valued at approximately $4,657,000. 41.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Benchmark lowered their target price on Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. JMP Securities reduced their price objective on Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating for the company in a research report on Monday, April 1st. The Goldman Sachs Group reduced their price objective on Planet Labs PBC from $4.80 to $4.20 and set a “buy” rating for the company in a research report on Friday, April 12th. Citigroup reduced their price objective on Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating for the company in a research report on Thursday, April 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price objective on shares of Planet Labs PBC in a research report on Monday, April 1st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Planet Labs PBC has an average rating of “Moderate Buy” and an average target price of $4.68.

Planet Labs PBC Trading Up 1.2 %

Planet Labs PBC stock opened at $1.75 on Thursday. The firm has a market cap of $508.59 million, a price-to-earnings ratio of -3.43 and a beta of 0.79. The stock has a fifty day simple moving average of $2.21 and a two-hundred day simple moving average of $2.29. Planet Labs PBC has a 12 month low of $1.71 and a 12 month high of $5.00.

Planet Labs PBC 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.