American Century Companies Inc. Raises Holdings in Planet Labs PBC $PL

Key Points

• American Century Companies Inc. increased its stake in Planet Labs PBC by 11.9%, acquiring an additional 58,763 shares, bringing its total to 550,981 shares valued at approximately $1.86 million.
• Several institutional investors, including Dimensional Fund Advisors LP and Liontrust Investment Partners LLP, have significantly increased their holdings in Planet Labs PBC, indicating strong institutional interest in the company.
• Analysts have mixed ratings on the stock, with reports ranging from a "neutral" rating by Goldman Sachs to a "buy" rating from Needham & Company, reflecting a diverse outlook on the company's performance.

American Century Companies Inc. increased its stake in shares of Planet Labs PBC (NYSE:PL - Free Report) by 11.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 550,981 shares of the company's stock after buying an additional 58,763 shares during the quarter. American Century Companies Inc. owned 0.18% of Planet Labs PBC worth $1,862,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PL. Dimensional Fund Advisors LP grew its holdings 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 buying an additional 1,013,234 shares in the last quarter. Liontrust Investment Partners LLP grew its holdings in Planet Labs PBC by 175.0% during the first quarter. Liontrust Investment Partners LLP now owns 1,066,133 shares of the company's stock worth $3,604,000 after buying an additional 678,486 shares in the last quarter. Baird Financial Group Inc. bought a new stake in Planet Labs PBC during the fourth quarter worth $2,568,000. Nuveen LLC bought a new stake in Planet Labs PBC during the first quarter worth $1,668,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Planet Labs PBC by 144.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 709,657 shares of the company's stock worth $2,399,000 after buying an additional 419,773 shares in the last quarter. Institutional investors own 41.71% of the company's stock.

Planet Labs PBC Price Performance

Shares of NYSE PL traded up $0.07 during trading on Friday, reaching $6.53. 8,888,867 shares of the stock traded hands, compared to its average volume of 5,914,561. Planet Labs PBC has a 52-week low of $1.76 and a 52-week high of $7.72. The company has a 50-day moving average of $6.60 and a 200-day moving average of $4.95. The stock has a market capitalization of $1.98 billion, a P/E ratio of -18.15 and a beta of 1.81.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. Planet Labs PBC had a negative return on equity of 23.36% and a negative net margin of 42.58%.The firm had revenue of $66.27 million for the quarter, compared to analysts' expectations of $62.25 million. Analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PL shares. The Goldman Sachs Group began coverage on Planet Labs PBC in a report on Monday, June 30th. They set a "neutral" rating and a $4.60 price target for the company. Citigroup upped their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Wedbush upped 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, June 5th. JMP Securities upped their price objective on Planet Labs PBC from $6.50 to $8.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 22nd. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $8.50 price objective (up previously from $6.30) on shares of Planet Labs PBC in a research note on Tuesday, June 24th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $6.86.

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.