SG Americas Securities LLC Grows Holdings in Planet Labs PBC (NYSE:PL)

SG Americas Securities LLC lifted its position in shares of Planet Labs PBC (NYSE:PL) by 37.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 85,821 shares of the company’s stock after buying an additional 23,300 shares during the period. SG Americas Securities LLC’s holdings in Planet Labs PBC were worth $290,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers lifted its position in Planet Labs PBC by 2.3% during the first quarter. Rhumbline Advisers now owns 293,950 shares of the company’s stock worth $994,000 after buying an additional 6,692 shares during the period. Toronto Dominion Bank purchased a new stake in Planet Labs PBC in the 4th quarter valued at about $64,000. WS Management Lllp purchased a new stake in Planet Labs PBC in the 4th quarter valued at about $1,010,000. Squarepoint Ops LLC acquired a new position in shares of Planet Labs PBC during the 4th quarter valued at about $321,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Planet Labs PBC during the 4th quarter valued at about $106,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Trading Up 11.5%

Shares of Planet Labs PBC stock opened at $6.05 on Friday. The company has a fifty day moving average price of $4.21 and a 200 day moving average price of $4.30. Planet Labs PBC has a twelve month low of $1.73 and a twelve month high of $6.71. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -16.79 and a beta of 1.61.

Planet Labs PBC (NYSE:PL) last issued 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 return on equity of 23.36% and a negative net margin of 42.58%. The company had revenue of $66.27 million during the quarter, compared to the consensus estimate of $62.25 million. Analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

PL has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $8.00 target price on shares of Planet Labs PBC in a research report on Thursday, June 5th. Wedbush upped their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, June 5th. Wall Street Zen upgraded Planet Labs PBC from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Citigroup boosted their price target on Planet Labs PBC from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $8.50 price target (up from $6.30) on shares of Planet Labs PBC in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.60.

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.