Wealth Enhancement Advisory Services LLC Invests $186,000 in Planet Labs PBC $PL

Key Points

• Wealth Enhancement Advisory Services LLC has invested approximately $186,000 in Planet Labs PBC by acquiring 30,483 shares in the second quarter.
• A number of institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., have also increased their stakes in Planet Labs PBC significantly during the first quarter.
• Planet Labs PBC's recent earnings report showed a revenue increase of 20.1% year-over-year, though it reported a loss of ($0.07) per share which was below the consensus estimate of ($0.04).

Wealth Enhancement Advisory Services LLC bought a new position in shares of Planet Labs PBC (NYSE:PL - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 30,483 shares of the company's stock, valued at approximately $186,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in Planet Labs PBC by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 16,213,565 shares of the company's stock valued at $54,802,000 after acquiring an additional 261,171 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Planet Labs PBC by 54.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company's stock worth $6,274,000 after buying an additional 653,173 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Planet Labs PBC by 41.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,323,263 shares of the company's stock valued at $4,473,000 after purchasing an additional 389,375 shares during the last quarter. Liontrust Investment Partners LLP increased its position in shares of Planet Labs PBC by 175.0% in the 1st quarter. Liontrust Investment Partners LLP now owns 1,066,133 shares of the company's stock valued at $3,604,000 after purchasing an additional 678,486 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Planet Labs PBC by 144.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 709,657 shares of the company's stock valued at $2,399,000 after buying an additional 419,773 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

PL has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $8.50 price target (up previously from $6.30) on shares of Planet Labs PBC in a research note on Tuesday, June 24th. Wedbush raised their target price on shares of Planet Labs PBC from $11.00 to $17.00 and gave the company an "outperform" rating in a report on Thursday, October 2nd. Citigroup reiterated an "outperform" rating on shares of Planet Labs PBC in a report on Tuesday, September 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Planet Labs PBC in a report on Wednesday. Finally, The Goldman Sachs Group started coverage on shares of Planet Labs PBC in a research report on Monday, June 30th. They issued a "neutral" rating and a $4.60 target price on the stock. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Planet Labs PBC currently has an average rating of "Moderate Buy" and a consensus target price of $8.56.

Planet Labs PBC Price Performance

Shares of PL opened at $14.73 on Friday. The company has a 50-day moving average of $9.43 and a two-hundred day moving average of $6.32. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of -49.10 and a beta of 1.99. Planet Labs PBC has a one year low of $2.10 and a one year high of $16.78.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings data on Monday, September 8th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.25%. The business had revenue of $73.39 million for the quarter, compared to the consensus estimate of $65.88 million. During the same period in the previous year, the business posted ($0.06) EPS. Planet Labs PBC's revenue was up 20.1% compared to the same quarter last year. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Analysts anticipate that Planet Labs PBC will post -0.37 earnings per share 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.

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