Planet Labs PBC (NYSE:PL) Shares Purchased by Barclays PLC

Barclays PLC grew its stake in shares of Planet Labs PBC (NYSE:PL) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 367,735 shares of the company’s stock after purchasing an additional 41,588 shares during the quarter. Barclays PLC owned 0.12% of Planet Labs PBC worth $1,485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in Planet Labs PBC by 790.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company’s stock worth $28,000 after acquiring an additional 6,072 shares in the last quarter. Monterey Private Wealth Inc. acquired a new position in shares of Planet Labs PBC during the fourth quarter worth $40,000. Wedbush Securities Inc. purchased a new position in shares of Planet Labs PBC in the fourth quarter valued at $41,000. SBI Securities Co. Ltd. acquired a new stake in Planet Labs PBC during the 4th quarter valued at $42,000. Finally, Sciencast Management LP purchased a new stake in Planet Labs PBC during the 4th quarter worth $43,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $8.00 target price on shares of Planet Labs PBC in a research note on Monday, March 24th. Northland Securities raised their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. JMP Securities upped their target price on Planet Labs PBC from $4.50 to $6.50 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $6.30 price target on shares of Planet Labs PBC in a research report on Friday, March 21st. Finally, Benchmark upped their price target 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. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Planet Labs PBC has a consensus rating of “Moderate Buy” and a consensus price target of $5.98.

Planet Labs PBC Price Performance

PL stock opened at $3.51 on Friday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -8.56 and a beta of 1.56. Planet Labs PBC has a 1-year low of $1.73 and a 1-year high of $6.71. The firm has a fifty day moving average price of $3.65 and a two-hundred day moving average price of $3.92.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. The business had revenue of $61.55 million for the quarter, compared to the consensus estimate of $61.89 million. During the same period in the prior year, the company earned ($0.06) EPS. As a group, analysts expect that Planet Labs PBC will post -0.37 EPS 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.