UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 79,418 Shares of Planet Labs PBC (NYSE:PL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Planet Labs PBC (NYSE:PL - Free Report) by 21.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 298,104 shares of the company's stock after selling 79,418 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.10% of Planet Labs PBC worth $1,204,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. WS Management Lllp acquired a new position in shares of Planet Labs PBC in the 4th quarter valued at $1,010,000. Squarepoint Ops LLC acquired a new stake in Planet Labs PBC during the 4th quarter worth approximately $321,000. Toronto Dominion Bank acquired a new position in Planet Labs PBC in the 4th quarter valued at $64,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Planet Labs PBC during the 4th quarter worth $106,000. Finally, ProShare Advisors LLC grew its position in Planet Labs PBC by 50.6% during the 4th quarter. ProShare Advisors LLC now owns 60,777 shares of the company's stock worth $246,000 after acquiring an additional 20,426 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PL shares. Wedbush upped their target price on Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. Wall Street Zen raised Planet Labs PBC from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Citigroup lifted their price target on Planet Labs PBC from $5.00 to $7.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $8.00 price target on shares of Planet Labs PBC in a research note on Thursday, June 5th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $3.50 target price (down previously from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $6.38.

Planet Labs PBC Trading Down 1.9%

Shares of NYSE:PL traded down $0.11 during midday trading on Friday, hitting $5.36. The stock had a trading volume of 8,392,855 shares, compared to its average volume of 4,372,679. The company has a market capitalization of $1.62 billion, a PE ratio of -13.06 and a beta of 1.61. Planet Labs PBC has a 1 year low of $1.73 and a 1 year high of $6.71. The stock has a 50 day moving average price of $3.79 and a two-hundred day moving average price of $4.21.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm 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 48.88% and a negative return on equity of 24.16%. As a group, equities analysts expect that Planet Labs PBC will post -0.37 EPS for the current year.

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.