Planet Labs PBC (NYSE:PL) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers increased its stake in Planet Labs PBC (NYSE:PL) by 2.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 293,950 shares of the company’s stock after acquiring an additional 6,692 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Planet Labs PBC worth $994,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Planet Labs PBC by 101.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company’s stock valued at $8,140,000 after purchasing an additional 1,013,234 shares during the period. JPMorgan Chase & Co. lifted its stake in Planet Labs PBC by 227.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,269,095 shares of the company’s stock valued at $5,127,000 after buying an additional 880,966 shares in the last quarter. Baird Financial Group Inc. purchased a new position in Planet Labs PBC in the 4th quarter valued at about $2,568,000. Raymond James Financial Inc. acquired a new stake in Planet Labs PBC in the 4th quarter worth about $1,648,000. Finally, Vanguard Group Inc. boosted its holdings in Planet Labs PBC by 2.6% in 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. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PL has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $6.30 target price on shares of Planet Labs PBC in a report on Friday, March 21st. The Goldman Sachs Group reissued a “neutral” rating and issued a $3.50 price objective (down from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Citigroup lifted their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. Wedbush upped their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, June 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $8.00 target price on shares of Planet Labs PBC in a research report on Thursday, June 5th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.38.

Planet Labs PBC Stock Up 0.1%

NYSE PL opened at $5.11 on Friday. The firm has a market cap of $1.55 billion, a PE ratio of -14.19 and a beta of 1.61. The business’s fifty day simple moving average is $3.98 and its 200-day simple moving average is $4.26. 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 released its quarterly earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Planet Labs PBC had a negative net margin of 42.58% and a negative return on equity of 23.36%. The business had revenue of $66.27 million for the quarter, compared to the consensus estimate of $62.25 million. Research analysts expect that Planet Labs PBC will post -0.37 EPS for the current year.

Planet Labs PBC 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.