ArrowMark Colorado Holdings LLC increased its holdings in shares of Planet Labs PBC (NYSE:PL - Free Report) by 14.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,078,958 shares of the company's stock after buying an additional 261,958 shares during the period. ArrowMark Colorado Holdings LLC owned about 0.70% of Planet Labs PBC worth $8,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp grew its position 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 valued at $7,945,000 after acquiring an additional 145,123 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Planet Labs PBC by 18.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 84,803 shares of the company's stock valued at $343,000 after purchasing an additional 13,414 shares during the period. MetLife Investment Management LLC raised its holdings 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 valued at $534,000 after buying an additional 24,419 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Planet Labs PBC by 101.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company's stock worth $8,140,000 after buying an additional 1,013,234 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in shares of Planet Labs PBC in the 4th quarter valued at $59,000. Institutional investors and hedge funds own 41.71% of the company's stock.
Planet Labs PBC Stock Performance
NYSE:PL traded down $0.05 during trading hours on Wednesday, hitting $3.46. 2,316,905 shares of the company's stock traded hands, compared to its average volume of 3,587,256. The stock's fifty day moving average price is $3.61 and its two-hundred day moving average price is $3.93. Planet Labs PBC has a twelve month low of $1.73 and a twelve month high of $6.71. The firm has a market cap of $1.04 billion, a P/E ratio of -8.43 and a beta of 1.56.
Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). The company had revenue of $61.55 million for the quarter, compared to analyst estimates of $61.89 million. Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. During the same period last year, the firm earned ($0.06) earnings per share. On average, equities research analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on PL. Craig Hallum upgraded Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price objective on the stock in a report on Thursday, January 30th. Needham & Company LLC reiterated a "buy" rating and set a $8.00 price target on shares of Planet Labs PBC in a report on Monday, March 24th. Northland Securities boosted their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. JMP Securities upped their price objective on shares of Planet Labs PBC from $4.50 to $6.50 and gave the stock a "market outperform" rating in a report on Thursday, January 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $6.30 target price on shares of Planet Labs PBC in a research note on Friday, March 21st. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $5.98.
Get Our Latest Analysis on Planet Labs PBC
Planet Labs PBC Profile
(
Free Report)
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.
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