Algert Global LLC Makes New Investment in Planet Labs PBC (NYSE:PL)

Algert Global LLC acquired a new stake in Planet Labs PBC (NYSE:PL - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 121,250 shares of the company's stock, valued at approximately $490,000.

Other large investors have also recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC lifted its stake in Planet Labs PBC by 14.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,078,958 shares of the company's stock worth $8,399,000 after purchasing an additional 261,958 shares in the last quarter. Northern Trust Corp lifted its stake in Planet Labs PBC by 8.0% during the fourth quarter. Northern Trust Corp now owns 1,966,504 shares of the company's stock worth $7,945,000 after purchasing an additional 145,123 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Planet Labs PBC by 18.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 84,803 shares of the company's stock worth $343,000 after purchasing an additional 13,414 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Planet Labs PBC by 22.7% during the fourth quarter. MetLife Investment Management LLC now owns 132,120 shares of the company's stock worth $534,000 after purchasing an additional 24,419 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Planet Labs PBC by 101.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company's stock worth $8,140,000 after purchasing an additional 1,013,234 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PL has been the topic of a number of research reports. Benchmark upped their price target on Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. The Goldman Sachs Group restated a "neutral" rating and set a $3.50 price target (down from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $6.30 price objective on shares of Planet Labs PBC in a research note on Friday, March 21st. JMP Securities increased their price objective 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. Finally, Northland Securities increased their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $5.98.

Planet Labs PBC Trading Up 0.4%

NYSE:PL traded up $0.02 during trading hours on Friday, hitting $3.91. The company's stock had a trading volume of 1,123,853 shares, compared to its average volume of 4,912,410. The stock has a market capitalization of $1.18 billion, a P/E ratio of -9.52 and a beta of 1.56. The stock has a fifty day moving average of $3.55 and a 200-day moving average of $3.99. Planet Labs PBC has a 52-week low of $1.73 and a 52-week high of $6.71.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted 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 business had revenue of $61.55 million during the quarter, compared to analysts' expectations of $61.89 million. Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. During the same period last year, the company earned ($0.06) EPS. On average, sell-side analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current year.

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.