635,682 Shares in Planet Labs PBC (NYSE:PL) Acquired by Baird Financial Group Inc.

Baird Financial Group Inc. purchased a new position in shares of Planet Labs PBC (NYSE:PL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 635,682 shares of the company's stock, valued at approximately $2,568,000. Baird Financial Group Inc. owned about 0.21% of Planet Labs PBC at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Sterling Capital Management LLC lifted its holdings in shares of Planet Labs PBC by 790.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock valued at $28,000 after purchasing an additional 6,072 shares during the last quarter. Monterey Private Wealth Inc. purchased a new stake in shares of Planet Labs PBC in the 4th quarter valued at about $40,000. Wedbush Securities Inc. purchased a new stake in shares of Planet Labs PBC in the 4th quarter valued at about $41,000. SBI Securities Co. Ltd. purchased a new stake in shares of Planet Labs PBC in the 4th quarter valued at about $42,000. Finally, Sciencast Management LP purchased a new stake in shares of Planet Labs PBC in the 4th quarter valued at about $43,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Planet Labs PBC Stock Up 0.9%

PL traded up $0.04 on Friday, hitting $3.93. 3,177,018 shares of the company traded hands, compared to its average volume of 3,665,522. The company has a 50 day moving average of $3.55 and a 200-day moving average of $4.01. Planet Labs PBC has a 12-month low of $1.73 and a 12-month high of $6.71. The stock has a market capitalization of $1.19 billion, a PE ratio of -9.57 and a beta of 1.56.

Planet Labs PBC (NYSE:PL - Get Free Report) last released 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 business had revenue of $61.55 million for the quarter, compared to analyst estimates of $61.89 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. On average, research analysts anticipate that Planet Labs PBC will post -0.37 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on PL. Craig Hallum raised Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 target price for the company in a report on Thursday, January 30th. Benchmark boosted their target price on Planet Labs PBC from $4.00 to $7.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Needham & Company LLC reissued a "buy" rating and issued a $8.00 target price on shares of Planet Labs PBC in a report on Wednesday. JMP Securities upped 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, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $3.50 price objective (down from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $5.98.

About Planet Labs PBC

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.