Lbp Am Sa Sells 64,986 Shares of Planet Labs PBC (NYSE:PL)

LBP AM SA decreased its holdings in shares of Planet Labs PBC (NYSE:PL - Free Report) by 7.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 798,478 shares of the company's stock after selling 64,986 shares during the quarter. LBP AM SA owned 0.26% of Planet Labs PBC worth $2,699,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Planet Labs PBC during the 1st quarter worth about $115,000. Rhumbline Advisers grew its position in Planet Labs PBC by 2.3% during the 1st quarter. Rhumbline Advisers now owns 293,950 shares of the company's stock worth $994,000 after acquiring an additional 6,692 shares during the last quarter. Deutsche Bank AG boosted its position in Planet Labs PBC by 48.9% in the 4th quarter. Deutsche Bank AG now owns 208,412 shares of the company's stock valued at $842,000 after buying an additional 68,465 shares during the last quarter. Vanguard Group Inc. boosted its position in Planet Labs PBC by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 15,952,394 shares of the company's stock valued at $64,448,000 after buying an additional 397,153 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Planet Labs PBC in the 1st quarter valued at $979,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PL. Wedbush lifted their target price on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Citigroup boosted their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a report on Friday, June 6th. The Goldman Sachs Group initiated coverage on Planet Labs PBC in a research note on Monday, June 30th. They issued a "neutral" rating and a $4.60 price target for the company. Needham & Company LLC restated a "buy" rating and set a $8.00 target price on shares of Planet Labs PBC in a research note on Thursday, June 5th. Finally, Wall Street Zen upgraded Planet Labs PBC from a "sell" rating to a "hold" rating in a 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 MarketBeat, Planet Labs PBC currently has an average rating of "Moderate Buy" and an average price target of $6.71.

Planet Labs PBC Stock Performance

NYSE:PL traded up $0.04 on Monday, hitting $6.18. The stock had a trading volume of 8,840,062 shares, compared to its average volume of 5,167,296. The stock has a market cap of $1.87 billion, a P/E ratio of -17.16 and a beta of 1.80. Planet Labs PBC has a 1 year low of $1.76 and a 1 year high of $7.72. The firm's fifty day simple moving average is $4.91 and its two-hundred day simple moving average is $4.49.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $62.25 million. Equities research analysts predict that Planet Labs PBC will post -0.37 EPS for the current year.

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.