Daiwa Securities Group Inc. Acquires 10,630 Shares of Planet Labs PBC (NYSE:PL)

Daiwa Securities Group Inc. lifted its holdings in shares of Planet Labs PBC (NYSE:PL) by 61.2% in the 4th quarter, HoldingsChannel reports. The fund owned 28,009 shares of the company’s stock after purchasing an additional 10,630 shares during the period. Daiwa Securities Group Inc.’s holdings in Planet Labs PBC were worth $69,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its holdings in Planet Labs PBC by 744.5% during the third quarter. Commonwealth Equity Services LLC now owns 118,321 shares of the company’s stock worth $308,000 after purchasing an additional 104,311 shares during the last quarter. Raymond James & Associates purchased a new position in Planet Labs PBC during the third quarter worth about $49,000. Perigon Wealth Management LLC boosted its holdings in Planet Labs PBC by 7.2% during the third quarter. Perigon Wealth Management LLC now owns 113,100 shares of the company’s stock worth $294,000 after purchasing an additional 7,600 shares during the last quarter. Arete Wealth Advisors LLC boosted its holdings in Planet Labs PBC by 118.8% during the third quarter. Arete Wealth Advisors LLC now owns 100,352 shares of the company’s stock worth $261,000 after purchasing an additional 54,487 shares during the last quarter. Finally, Windsor Advisory Group LLC purchased a new position in Planet Labs PBC during the third quarter worth about $57,000. 41.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PL. Benchmark cut 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 report on Tuesday, April 2nd. The Goldman Sachs Group dropped their target price 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. Citigroup dropped their target price 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. JMP Securities dropped their target price 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $7.00 target price on shares of Planet Labs PBC in a research note on Monday, April 1st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4.68.

Planet Labs PBC Trading Up 0.6 %

Shares of PL stock opened at $1.77 on Friday. The stock has a market capitalization of $514.40 million, a P/E ratio of -3.47 and a beta of 0.79. The firm’s 50 day moving average is $2.14 and its 200 day moving average is $2.25. Planet Labs PBC has a 12 month low of $1.68 and a 12 month high of $5.00.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings results on Thursday, March 28th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $58.85 million for the quarter, compared to analysts’ expectations of $57.64 million. Planet Labs PBC had a negative net margin of 63.67% and a negative return on equity of 26.14%. On average, equities analysts predict that Planet Labs PBC will post -0.41 EPS for the current year.

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.