UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 79,418 Shares of Planet Labs PBC (NYSE:PL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Planet Labs PBC (NYSE:PL) by 21.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 298,104 shares of the company’s stock after selling 79,418 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.10% of Planet Labs PBC worth $1,204,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Sterling Capital Management LLC increased its holdings in Planet Labs PBC by 790.6% during the fourth 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 during the period. Wedbush Securities Inc. acquired a new position in shares of Planet Labs PBC in the fourth quarter worth about $41,000. SBI Securities Co. Ltd. acquired a new position in shares of Planet Labs PBC in the fourth quarter worth about $42,000. Sciencast Management LP purchased a new stake in shares of Planet Labs PBC during the fourth quarter worth about $43,000. Finally, Cetera Investment Advisers purchased a new stake in Planet Labs PBC during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Up 0.2%

NYSE PL opened at $5.85 on Tuesday. The company has a 50 day moving average price of $3.66 and a two-hundred day moving average price of $4.18. Planet Labs PBC has a 12-month low of $1.73 and a 12-month high of $6.71. The stock has a market capitalization of $1.77 billion, a PE ratio of -14.27 and a beta of 1.61.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. 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 $66.27 million for the quarter, compared to analyst estimates of $62.25 million. As a group, equities analysts anticipate that Planet Labs PBC will post -0.37 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on PL shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $3.50 price target (down previously from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Citigroup raised their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company a “buy” rating in a report on Friday. Wall Street Zen upgraded shares of Planet Labs PBC from a “sell” rating to a “hold” rating in a report on Friday. Wedbush increased their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, June 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.30 target price on shares of Planet Labs PBC in a research report on Friday, March 21st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Planet Labs PBC presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.38.

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.