Walleye Capital LLC Has $526,000 Holdings in Planet Labs PBC $PL

Key Points

• Walleye Capital LLC significantly increased its holdings in Planet Labs PBC by 1,201.6% during the first quarter, owning 155,545 shares worth approximately $526,000.
• Planet Labs reported a revenue of $66.27 million for the quarter, exceeding analyst expectations, while the company had a negative net margin of 42.58%.
• Several analysts have expressed positive outlooks on Planet Labs, with target prices ranging from $7.00 to $8.50, indicating a consensus rating of "Moderate Buy."

Walleye Capital LLC raised its holdings in Planet Labs PBC (NYSE:PL - Free Report) by 1,201.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 155,545 shares of the company's stock after acquiring an additional 143,595 shares during the period. Walleye Capital LLC owned about 0.05% of Planet Labs PBC worth $526,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. HighTower Advisors LLC bought a new position in shares of Planet Labs PBC during the 1st quarter valued at about $37,000. Cetera Investment Advisers bought a new position in Planet Labs PBC in the fourth quarter valued at approximately $46,000. Forum Financial Management LP acquired a new position in shares of Planet Labs PBC in the first quarter valued at approximately $39,000. Wellington Shields & Co. LLC acquired a new position in shares of Planet Labs PBC in the first quarter valued at approximately $39,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in Planet Labs PBC by 143.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 13,249 shares of the company's stock valued at $45,000 after acquiring an additional 7,799 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

Planet Labs PBC Price Performance

Shares of PL opened at $7.10 on Tuesday. The company has a market cap of $2.15 billion, a PE ratio of -19.71 and a beta of 1.81. The firm has a 50-day moving average of $6.54 and a 200-day moving average of $4.92. Planet Labs PBC has a one year low of $1.76 and a one year high of $7.72.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its earnings results 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. Planet Labs PBC had a negative net margin of 42.58% and a negative return on equity of 23.36%. The business had revenue of $66.27 million during the quarter, compared to the consensus estimate of $62.25 million. Planet Labs PBC has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. Analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $8.00 target price on shares of Planet Labs PBC in a report on Thursday, June 5th. JMP Securities lifted their target price on Planet Labs PBC from $6.50 to $8.00 and gave the company a "market outperform" rating in a research report on Tuesday, July 22nd. Wedbush boosted their target price on Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Wall Street Zen raised shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $8.50 price objective (up previously from $6.30) on shares of Planet Labs PBC in a research report on Tuesday, June 24th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $6.86.

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.

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