Oppenheimer & Co. Inc. bought a new position in shares of Planet Labs PBC (NYSE:PL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 289,604 shares of the company's stock, valued at approximately $979,000. Oppenheimer & Co. Inc. owned approximately 0.10% of Planet Labs PBC at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Planet Labs PBC by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 15,952,394 shares of the company's stock valued at $64,448,000 after purchasing an additional 397,153 shares during the period. Geode Capital Management LLC grew its holdings in Planet Labs PBC by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 4,939,737 shares of the company's stock valued at $19,961,000 after buying an additional 69,245 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of Planet Labs PBC by 14.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,078,958 shares of the company's stock valued at $8,399,000 after buying an additional 261,958 shares during the period. Dimensional Fund Advisors LP increased its position in shares of 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 valued at $8,140,000 after buying an additional 1,013,234 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Planet Labs PBC by 8.0% in the fourth quarter. Northern Trust Corp now owns 1,966,504 shares of the company's stock worth $7,945,000 after buying an additional 145,123 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company's stock.
Planet Labs PBC Stock Performance
NYSE PL opened at $6.05 on Monday. Planet Labs PBC has a 52-week low of $1.73 and a 52-week high of $6.71. The company has a fifty day moving average of $4.26 and a 200-day moving average of $4.32. The company has a market capitalization of $1.83 billion, a P/E ratio of -16.79 and a beta of 1.61.
Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share 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 business had revenue of $66.27 million for the quarter, compared to the consensus estimate of $62.25 million. As a group, analysts forecast that Planet Labs PBC will post -0.37 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. Wedbush boosted their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Needham & Company LLC restated a "buy" rating and set a $8.00 price target on shares of Planet Labs PBC in a research report on Thursday, June 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $8.50 price target (up previously from $6.30) on shares of Planet Labs PBC in a report on Tuesday, June 24th. Citigroup increased their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $3.50 price objective (down previously from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $6.60.
Read Our Latest Stock 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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