Raymond James Financial Inc. Takes $1.65 Million Position in Planet Labs PBC (NYSE:PL)

Raymond James Financial Inc. purchased a new position in shares of Planet Labs PBC (NYSE:PL - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 408,037 shares of the company's stock, valued at approximately $1,648,000. Raymond James Financial Inc. owned 0.14% of Planet Labs PBC at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PL. Monterey Private Wealth Inc. bought a new stake in shares of Planet Labs PBC during the fourth quarter worth $40,000. Wedbush Securities Inc. bought a new position in Planet Labs PBC during the 4th quarter worth about $41,000. SBI Securities Co. Ltd. acquired a new stake in shares of Planet Labs PBC in the 4th quarter valued at about $42,000. Sciencast Management LP bought a new stake in shares of Planet Labs PBC in the fourth quarter valued at about $43,000. Finally, PFG Investments LLC acquired a new position in shares of Planet Labs PBC during the fourth quarter worth about $55,000. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Trading Up 2.9 %

NYSE:PL traded up $0.10 during mid-day trading on Thursday, hitting $3.56. 657,109 shares of the company's stock were exchanged, compared to its average volume of 5,005,967. Planet Labs PBC has a fifty-two week low of $1.73 and a fifty-two week high of $6.71. The company has a 50 day simple moving average of $3.58 and a 200-day simple moving average of $3.93. The firm has a market capitalization of $1.08 billion, a P/E ratio of -8.68 and a beta of 1.56.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. The company 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) earnings per share. As a group, analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PL shares. Northland Securities boosted their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. 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 report on Thursday, January 30th. 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. The Goldman Sachs Group reissued a "neutral" rating and issued a $3.50 target price (down from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Finally, Benchmark upped their price target on shares of Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $5.98.

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.