Planet Labs PBC $PL Shares Acquired by Invesco Ltd.

Invesco Ltd. grew its holdings in Planet Labs PBC (NYSE:PL - Free Report) by 48.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 426,623 shares of the company's stock after purchasing an additional 138,780 shares during the quarter. Invesco Ltd. owned about 0.14% of Planet Labs PBC worth $1,442,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Planet Labs PBC by 1.6% in the first quarter. Vanguard Group Inc. now owns 16,213,565 shares of the company's stock valued at $54,802,000 after purchasing an additional 261,171 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings 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 valued at $8,140,000 after buying an additional 1,013,234 shares in the last quarter. Northern Trust Corp increased its stake in shares of Planet Labs PBC by 8.0% in the 4th quarter. Northern Trust Corp now owns 1,966,504 shares of the company's stock worth $7,945,000 after acquiring an additional 145,123 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Planet Labs PBC by 41.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,323,263 shares of the company's stock worth $4,473,000 after acquiring an additional 389,375 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Planet Labs PBC by 144.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 709,657 shares of the company's stock worth $2,399,000 after acquiring an additional 419,773 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Trading Up 1.1%

NYSE PL traded up $0.07 during trading hours on Friday, reaching $6.53. The company had a trading volume of 8,888,867 shares, compared to its average volume of 5,914,561. The stock has a 50-day moving average of $6.60 and a 200 day moving average of $4.95. Planet Labs PBC has a 1-year low of $1.76 and a 1-year high of $7.72. 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 posted its 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 net margin of 42.58% and a negative return on equity of 23.36%. The company had revenue of $66.27 million for the quarter, compared to analysts' expectations of $62.25 million. As a group, sell-side analysts predict that Planet Labs PBC will post -0.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PL shares. The Goldman Sachs Group began coverage on shares of Planet Labs PBC in a research report on Monday, June 30th. They set a "neutral" rating and a $4.60 price target on the stock. Wedbush lifted their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research note 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 stock a "market outperform" rating in a research note on Tuesday, July 22nd. Wall Street Zen raised shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $8.50 target price (up 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 company's stock. According to MarketBeat, Planet Labs PBC currently has a consensus 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.