Connor Clark & Lunn Investment Management Ltd. increased its position in Planet Labs PBC (NYSE:PL - Free Report) by 144.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 709,657 shares of the company's stock after acquiring an additional 419,773 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.23% of Planet Labs PBC worth $2,399,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Planet Labs PBC in the first quarter valued at approximately $115,000. Rhumbline Advisers lifted its position in Planet Labs PBC by 2.3% during the first quarter. Rhumbline Advisers now owns 293,950 shares of the company's stock valued at $994,000 after purchasing an additional 6,692 shares during the last quarter. Principal Financial Group Inc. lifted its position in Planet Labs PBC by 1,316.8% during the first quarter. Principal Financial Group Inc. now owns 167,362 shares of the company's stock valued at $566,000 after purchasing an additional 155,549 shares during the last quarter. Deutsche Bank AG lifted its position in Planet Labs PBC by 48.9% during the fourth quarter. Deutsche Bank AG now owns 208,412 shares of the company's stock valued at $842,000 after purchasing an additional 68,465 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its position in Planet Labs PBC by 220.5% during the first quarter. Vontobel Holding Ltd. now owns 45,143 shares of the company's stock valued at $153,000 after purchasing an additional 31,057 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors.
Planet Labs PBC Stock Performance
PL stock opened at $6.81 on Friday. The company has a market capitalization of $2.06 billion, a PE ratio of -18.90 and a beta of 1.80. Planet Labs PBC has a one year low of $1.76 and a one year high of $7.72. The company's 50 day moving average price is $6.19 and its two-hundred day moving average price is $4.88.
Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $66.27 million for the quarter, compared to the consensus estimate of $62.25 million. Planet Labs PBC had a negative net margin of 42.58% and a negative return on equity of 23.36%. On average, research analysts predict that Planet Labs PBC will post -0.37 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on PL. Needham & Company LLC reiterated a "buy" rating and set a $8.00 target price on shares of Planet Labs PBC in a research report on Thursday, June 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $8.50 target price (up from $6.30) on shares of Planet Labs PBC in a research report on Tuesday, June 24th. Wedbush lifted their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. JMP Securities lifted their target price on shares of Planet Labs PBC from $6.50 to $8.00 and gave the company a "market outperform" rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen upgraded shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.86.
Get Our Latest Analysis on PL
About Planet Labs PBC
(
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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