Invesco Ltd. Grows Holdings in Planet Labs PBC (NYSE:PL)

Invesco Ltd. grew its position in shares of Planet Labs PBC (NYSE:PL) by 14.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 287,843 shares of the company’s stock after purchasing an additional 35,990 shares during the quarter. Invesco Ltd. owned approximately 0.10% of Planet Labs PBC worth $1,163,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Xponance Inc. increased 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. Monterey Private Wealth Inc. bought a new position in Planet Labs PBC in the fourth quarter worth $40,000. Wedbush Securities Inc. purchased a new position in Planet Labs PBC during the fourth quarter valued at $41,000. SBI Securities Co. Ltd. purchased a new stake in shares of Planet Labs PBC in the 4th quarter worth about $42,000. Finally, Sciencast Management LP bought a new position in shares of Planet Labs PBC during the fourth quarter valued at approximately $43,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PL. JMP Securities boosted their price target on Planet Labs PBC from $4.50 to $6.50 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Craig Hallum raised Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Thursday, January 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.30 price target on shares of Planet Labs PBC in a report on Friday, March 21st. Benchmark boosted their price objective on shares of Planet Labs PBC from $4.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $3.50 price objective (down previously from $6.00) on shares of Planet Labs PBC in a research report on Friday, April 11th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $5.98.

Planet Labs PBC Stock Up 2.3 %

Shares of PL opened at $3.37 on Friday. Planet Labs PBC has a 52 week low of $1.73 and a 52 week high of $6.71. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -8.21 and a beta of 1.56. The business has a 50-day simple moving average of $3.67 and a two-hundred day simple moving average of $3.90.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The business had revenue of $61.55 million during the quarter, compared to analysts’ expectations of $61.89 million. Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. On average, equities analysts anticipate 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.