Deutsche Bank AG Buys 68,465 Shares of Planet Labs PBC (NYSE:PL)

Deutsche Bank AG boosted its holdings in Planet Labs PBC (NYSE:PL - Free Report) by 48.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 208,412 shares of the company's stock after acquiring an additional 68,465 shares during the quarter. Deutsche Bank AG owned 0.07% of Planet Labs PBC worth $842,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sterling Capital Management LLC raised its stake in Planet Labs PBC by 790.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock valued at $28,000 after buying an additional 6,072 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in Planet Labs PBC during the 4th quarter valued at $41,000. SBI Securities Co. Ltd. purchased a new stake in Planet Labs PBC during the 4th quarter valued at $42,000. Sciencast Management LP purchased a new stake in Planet Labs PBC during the 4th quarter valued at $43,000. Finally, Cetera Investment Advisers purchased a new stake in Planet Labs PBC during the 4th quarter valued at $46,000. 41.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PL has been the subject of a number of research reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $6.30 target price on shares of Planet Labs PBC in a research note on Friday, March 21st. The Goldman Sachs Group restated a "neutral" rating and issued a $3.50 price objective (down from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Needham & Company LLC restated a "buy" rating and issued a $8.00 price objective on shares of Planet Labs PBC in a research note on Wednesday, May 14th. Northland Securities upped their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, JMP Securities upped their price objective on Planet Labs PBC from $4.50 to $6.50 and gave the stock a "market outperform" rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $5.98.

Planet Labs PBC Trading Down 2.4%

Planet Labs PBC stock traded down $0.10 during mid-day trading on Friday, hitting $3.85. The stock had a trading volume of 2,754,785 shares, compared to its average volume of 3,743,908. The firm has a market capitalization of $1.16 billion, a P/E ratio of -9.35 and a beta of 1.56. The firm's 50 day moving average is $3.50 and its 200 day moving average is $4.09. Planet Labs PBC has a one year low of $1.73 and a one year high of $6.71.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. The firm had revenue of $61.55 million during the quarter, compared to the consensus estimate of $61.89 million. During the same period in the prior year, the company posted ($0.06) EPS. As a group, equities research analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current year.

About Planet Labs PBC

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.