Planet Labs PBC (NYSE:PL) Shares Bought by Northern Trust Corp

Northern Trust Corp raised its holdings in Planet Labs PBC (NYSE:PL) by 8.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,966,504 shares of the company’s stock after purchasing an additional 145,123 shares during the period. Northern Trust Corp owned about 0.66% of Planet Labs PBC worth $7,945,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PL. JPMorgan Chase & Co. raised its position in shares of Planet Labs PBC by 90.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 388,129 shares of the company’s stock valued at $866,000 after acquiring an additional 184,111 shares in the last quarter. Aspiring Ventures LLC bought a new position in Planet Labs PBC during the 4th quarter worth $849,000. Vanguard Group Inc. grew its stake in Planet Labs PBC by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 15,952,394 shares of the company’s stock worth $64,448,000 after buying an additional 397,153 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Planet Labs PBC during the 4th quarter worth $793,000. Finally, Barclays PLC grew its stake in Planet Labs PBC by 12.8% during the 4th quarter. Barclays PLC now owns 367,735 shares of the company’s stock worth $1,485,000 after buying an additional 41,588 shares during the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. The Goldman Sachs Group restated a “neutral” rating and set a $3.50 price objective (down from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. JMP Securities upped their price objective on Planet Labs PBC from $4.50 to $6.50 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.30 price target on shares of Planet Labs PBC in a research note on Friday, March 21st. Craig Hallum raised Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Thursday, January 30th. Finally, Northland Securities increased their price target on Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.98.

Planet Labs PBC Stock Performance

NYSE:PL opened at $3.93 on Monday. The business has a fifty day moving average of $3.55 and a 200-day moving average of $4.02. Planet Labs PBC has a 1 year low of $1.73 and a 1 year high of $6.71. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -9.57 and a beta of 1.56.

Planet Labs PBC (NYSE:PL) last announced its earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate 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 firm 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 business earned ($0.06) EPS. On average, equities research analysts predict that Planet Labs PBC will post -0.37 EPS for the current year.

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.