Planet Labs PBC (NYSE:PL) Position Lessened by Teramo Advisors LLC

Teramo Advisors LLC reduced its stake in Planet Labs PBC (NYSE:PL - Free Report) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,080,100 shares of the company's stock after selling 52,600 shares during the quarter. Planet Labs PBC accounts for 1.5% of Teramo Advisors LLC's investment portfolio, making the stock its 3rd biggest holding. Teramo Advisors LLC owned about 0.36% of Planet Labs PBC worth $3,651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sterling Capital Management LLC boosted its position in shares of Planet Labs PBC by 790.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock worth $28,000 after purchasing an additional 6,072 shares in the last quarter. Forum Financial Management LP purchased a new stake in shares of Planet Labs PBC during the 1st quarter worth $39,000. Wedbush Securities Inc. purchased a new stake in shares of Planet Labs PBC during the 4th quarter worth $41,000. Cetera Investment Advisers purchased a new stake in shares of Planet Labs PBC during the 4th quarter worth $46,000. Finally, Jump Financial LLC purchased a new stake in shares of Planet Labs PBC during the 4th quarter worth $48,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Planet Labs PBC Stock Down 2.8%

Shares of PL traded down $0.19 during mid-day trading on Friday, reaching $6.65. 5,453,962 shares of the company's stock were exchanged, compared to its average volume of 11,631,154. The company has a 50-day simple moving average of $5.51 and a two-hundred day simple moving average of $4.66. Planet Labs PBC has a 52-week low of $1.76 and a 52-week high of $7.72. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -18.47 and a beta of 1.80.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business 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%. As a group, equities research analysts predict that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. 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. JMP Securities boosted their price target on Planet Labs PBC from $6.50 to $8.00 and gave the stock a "market outperform" rating in a research note on Tuesday. Wedbush boosted their price target on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. Cantor Fitzgerald reissued an "overweight" rating and set a $8.50 price target (up previously from $6.30) on shares of Planet Labs PBC in a research note on Tuesday, June 24th. Finally, Needham & Company LLC reissued a "buy" rating and set a $8.00 price target on shares of Planet Labs PBC in a research note on Thursday, June 5th. 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.