The Manufacturers Life Insurance Company Purchases 12,404 Shares of Planet Labs PBC (NYSE:PL)

The Manufacturers Life Insurance Company grew its holdings in shares of Planet Labs PBC (NYSE:PL) by 17.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,254 shares of the company’s stock after purchasing an additional 12,404 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Planet Labs PBC were worth $188,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Valeo Financial Advisors LLC purchased a new stake in Planet Labs PBC during the third quarter valued at about $45,000. Algert Global LLC bought a new stake in shares of Planet Labs PBC in the second quarter valued at approximately $38,000. Vontobel Holding Ltd. raised its position in shares of Planet Labs PBC by 81.5% in the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock valued at $50,000 after purchasing an additional 10,000 shares during the period. nVerses Capital LLC purchased a new stake in shares of Planet Labs PBC during the 3rd quarter valued at approximately $61,000. Finally, SG Americas Securities LLC boosted its holdings in Planet Labs PBC by 234.6% in the 2nd quarter. SG Americas Securities LLC now owns 44,442 shares of the company’s stock worth $83,000 after buying an additional 31,160 shares during the period. 41.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JMP Securities reissued a “market outperform” rating and set a $4.50 target price (up previously from $4.00) on shares of Planet Labs PBC in a report on Monday, December 9th. Citigroup boosted their price objective on Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group cut their target price on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of Planet Labs PBC in a report on Tuesday, December 10th. Finally, Craig Hallum increased their price target on shares of Planet Labs PBC from $2.50 to $3.50 and gave the stock a “hold” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.30.

Planet Labs PBC Stock Performance

NYSE PL opened at $4.33 on Tuesday. The company has a fifty day moving average of $3.00 and a 200-day moving average of $2.45. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $4.99. The company has a market capitalization of $1.28 billion, a P/E ratio of -10.55 and a beta of 1.34.

Planet Labs PBC Company Profile

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.