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

Deutsche Bank AG lifted its position in shares of Planet Labs PBC (NYSE:PL - Free Report) by 48.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & 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 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake 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 worth $64,448,000 after purchasing an additional 397,153 shares in the last quarter. Geode Capital Management LLC lifted its position in Planet Labs PBC by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 4,939,737 shares of the company's stock valued at $19,961,000 after acquiring an additional 69,245 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its position in Planet Labs PBC by 14.4% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,078,958 shares of the company's stock valued at $8,399,000 after acquiring an additional 261,958 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Planet Labs PBC by 101.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company's stock valued at $8,140,000 after acquiring an additional 1,013,234 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Planet Labs PBC by 8.0% in the fourth quarter. Northern Trust Corp now owns 1,966,504 shares of the company's stock valued at $7,945,000 after acquiring an additional 145,123 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Planet Labs PBC Stock Performance

Shares of NYSE PL traded down $0.08 during midday trading on Friday, hitting $3.86. The company's stock had a trading volume of 4,268,642 shares, compared to its average volume of 3,771,348. Planet Labs PBC has a 1-year low of $1.73 and a 1-year high of $6.71. The firm has a market cap of $1.17 billion, a P/E ratio of -9.41 and a beta of 1.56. The firm's fifty day moving average price is $3.50 and its 200-day moving average price is $4.11.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share (EPS) 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 business had revenue of $61.55 million during the quarter, compared to analyst estimates of $61.89 million. During the same period last year, the company earned ($0.06) EPS. As a group, research analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on PL. Cantor Fitzgerald restated an "overweight" rating and issued a $6.30 price objective on shares of Planet Labs PBC in a research note on Friday, March 21st. The Goldman Sachs Group restated a "neutral" rating and set a $3.50 target price (down from $6.00) on shares of Planet Labs PBC in a research report on Friday, April 11th. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 price target on shares of Planet Labs PBC in a report on Wednesday, May 14th. Finally, Benchmark upped their price target on shares of Planet Labs PBC from $4.00 to $7.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $5.98.

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.