Planet Labs PBC (NYSE:PL) Shares Sold by Teramo Advisors LLC

Teramo Advisors LLC lessened its stake in Planet Labs PBC (NYSE:PL - Free Report) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,080,100 shares of the company's stock after selling 52,600 shares during the period. Planet Labs PBC makes up about 1.5% of Teramo Advisors LLC's holdings, making the stock its 3rd biggest holding. Teramo Advisors LLC owned 0.36% of Planet Labs PBC worth $3,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PL. Vanguard Group Inc. raised its holdings in 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 buying an additional 397,153 shares during the last quarter. Geode Capital Management LLC raised its holdings in Planet Labs PBC by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 4,939,737 shares of the company's stock worth $19,961,000 after purchasing an additional 69,245 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in Planet Labs PBC by 14.4% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,078,958 shares of the company's stock worth $8,399,000 after purchasing an additional 261,958 shares in the last quarter. Dimensional Fund Advisors LP raised 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 worth $8,140,000 after purchasing an additional 1,013,234 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in 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 purchasing an additional 145,123 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PL shares. Wedbush increased their price target 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. Citigroup increased their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Needham & Company LLC reiterated a "buy" rating and issued a $8.00 price target on shares of Planet Labs PBC in a research note on Thursday, June 5th. JMP Securities increased their price target 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $8.50 price target (up from $6.30) on shares of Planet Labs PBC in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Planet Labs PBC presently has an average rating of "Moderate Buy" and an average target price of $6.86.

Planet Labs PBC Stock Down 2.3%

Shares of NYSE:PL traded down $0.16 during trading on Friday, hitting $6.69. 4,335,382 shares of the stock traded hands, compared to its average volume of 6,908,497. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -18.57 and a beta of 1.80. The company has a fifty day moving average price of $5.45 and a two-hundred day moving average price of $4.64. Planet Labs PBC has a 52-week low of $1.76 and a 52-week high of $7.72.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. The business had revenue of $66.27 million during the quarter, compared to analyst estimates 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, equities research analysts predict that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Planet Labs PBC 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.