Planet Labs PBC (NYSE:PL) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG lifted its stake in shares of Planet Labs PBC (NYSE:PL) by 48.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,412 shares of the company’s stock after acquiring an additional 68,465 shares during the quarter. Deutsche Bank AG owned 0.07% of Planet Labs PBC worth $842,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Xponance Inc. increased its position in shares of Planet Labs PBC by 12.0% in the fourth quarter. Xponance Inc. now owns 14,959 shares of the company’s stock worth $60,000 after acquiring an additional 1,608 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Planet Labs PBC by 19.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 22,577 shares of the company’s stock valued at $91,000 after buying an additional 3,753 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Planet Labs PBC by 790.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company’s stock valued at $28,000 after buying an additional 6,072 shares in the last quarter. Wedbush Securities Inc. bought a new position in Planet Labs PBC during the fourth quarter valued at about $41,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Planet Labs PBC during the 4th quarter worth $42,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Stock Performance

Shares of NYSE PL opened at $3.70 on Tuesday. The firm has a 50 day moving average price of $3.50 and a 200 day moving average price of $4.08. The stock has a market cap of $1.12 billion, a P/E ratio of -9.02 and a beta of 1.56. Planet Labs PBC has a 52-week low of $1.73 and a 52-week high of $6.71.

Planet Labs PBC (NYSE:PL) last announced its earnings results on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The company had revenue of $61.55 million for the quarter, compared to analyst estimates of $61.89 million. Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. During the same quarter last year, the business posted ($0.06) earnings per share. Analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PL has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of Planet Labs PBC in a report on Wednesday, May 14th. 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 note on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.30 target price on shares of Planet Labs PBC in a research note on Friday, March 21st. Craig Hallum upgraded shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $3.50 price objective (down previously from $6.00) on shares of Planet Labs PBC in a report on Friday, April 11th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Planet Labs PBC currently has a consensus rating of “Moderate Buy” and an average target price of $5.98.

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.