Planet Labs PBC $PL Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Planet Labs PBC by 1.6%, owning approximately 16.2 million shares valued at about $54.8 million.
• Shares of Planet Labs PBC saw a price increase of 3.8% and have a current market capitalization of $2.14 billion.
• Analyst ratings for Planet Labs PBC are largely positive, with a consensus rating of "Moderate Buy" and a projected price target of $6.86.

Vanguard Group Inc. grew its holdings in Planet Labs PBC (NYSE:PL - Free Report) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,213,565 shares of the company's stock after acquiring an additional 261,171 shares during the period. Vanguard Group Inc. owned about 5.36% of Planet Labs PBC worth $54,802,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Forum Financial Management LP purchased a new position in shares of Planet Labs PBC in the 1st quarter valued at $39,000. Wellington Shields & Co. LLC purchased a new stake in Planet Labs PBC during the 1st quarter worth $39,000. Mackenzie Financial Corp boosted its position in Planet Labs PBC by 32.1% in the 1st quarter. Mackenzie Financial Corp now owns 13,364 shares of the company's stock valued at $45,000 after buying an additional 3,245 shares during the last quarter. Cetera Investment Advisers purchased a new position in Planet Labs PBC in the 4th quarter valued at about $46,000. Finally, Jump Financial LLC acquired a new stake in shares of Planet Labs PBC during the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PL shares. 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 raised their price objective on Planet Labs PBC from $6.50 to $8.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 22nd. Cantor Fitzgerald restated an "overweight" rating and set a $8.50 price objective (up previously from $6.30) on shares of Planet Labs PBC in a research note on Tuesday, June 24th. Wall Street Zen upgraded Planet Labs PBC from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Citigroup raised their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $6.86.

Planet Labs PBC Stock Performance

Shares of Planet Labs PBC stock traded up $0.15 during trading hours on Thursday, reaching $7.23. The company's stock had a trading volume of 7,791,513 shares, compared to its average volume of 5,405,033. The company's 50 day simple moving average is $6.46 and its 200 day simple moving average is $4.93. Planet Labs PBC has a one year low of $1.76 and a one year high of $7.72. The stock has a market cap of $2.19 billion, a P/E ratio of -20.07 and a beta of 1.80.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly 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 company 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%. Planet Labs PBC has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. On average, sell-side analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current fiscal 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.