Dimensional Fund Advisors LP Purchases 1,013,234 Shares of Planet Labs PBC (NYSE:PL)

Dimensional Fund Advisors LP grew its position in Planet Labs PBC (NYSE:PL - Free Report) by 101.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,013,845 shares of the company's stock after purchasing an additional 1,013,234 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.68% of Planet Labs PBC worth $8,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. NewEdge Advisors LLC bought a new position in shares of Planet Labs PBC during the 4th quarter valued at approximately $59,000. Jump Financial LLC bought a new stake in Planet Labs PBC during the 4th quarter valued at $48,000. XTX Topco Ltd increased its position in Planet Labs PBC by 51.9% during the 4th quarter. XTX Topco Ltd now owns 257,074 shares of the company's stock valued at $1,039,000 after purchasing an additional 87,869 shares during the period. Mariner LLC boosted its position in Planet Labs PBC by 67.3% during the 4th quarter. Mariner LLC now owns 65,767 shares of the company's stock valued at $266,000 after acquiring an additional 26,457 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Planet Labs PBC by 12.8% during the fourth quarter. Barclays PLC now owns 367,735 shares of the company's stock valued at $1,485,000 after buying an additional 41,588 shares during the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Benchmark upped their target price on Planet Labs PBC from $4.00 to $7.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Northland Securities boosted their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "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. JMP Securities increased their price target on shares of 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, Craig Hallum raised Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price objective for the company 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $5.98.

Planet Labs PBC Stock Performance

Shares of NYSE PL traded down $0.01 during mid-day trading on Thursday, reaching $3.89. The company had a trading volume of 1,379,033 shares, compared to its average volume of 3,628,589. Planet Labs PBC has a 12-month low of $1.73 and a 12-month high of $6.71. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -9.45 and a beta of 1.56. The stock has a fifty day moving average of $3.54 and a two-hundred day moving average of $3.98.

Planet Labs PBC (NYSE:PL - Get Free Report) last released 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). Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. The company 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 company earned ($0.06) earnings per share. Sell-side analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

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.