WS Management Lllp Purchases Shares of 250,000 Planet Labs PBC (NYSE:PL)

WS Management Lllp purchased a new stake in Planet Labs PBC (NYSE:PL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 250,000 shares of the company's stock, valued at approximately $1,010,000. Planet Labs PBC makes up 0.1% of WS Management Lllp's holdings, making the stock its 27th largest holding. WS Management Lllp owned 0.08% of Planet Labs PBC as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its stake in shares of Planet Labs PBC by 790.6% in the fourth quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock worth $28,000 after acquiring an additional 6,072 shares during the last quarter. Monterey Private Wealth Inc. bought a new position in shares of Planet Labs PBC in the fourth quarter worth about $40,000. Wedbush Securities Inc. bought a new position in shares of Planet Labs PBC in the fourth quarter worth about $41,000. SBI Securities Co. Ltd. bought a new position in shares of Planet Labs PBC in the fourth quarter worth about $42,000. Finally, Sciencast Management LP bought a new position in shares of Planet Labs PBC in the fourth quarter worth about $43,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PL. Benchmark boosted their price target on shares of Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. The Goldman Sachs Group reissued a "neutral" rating and set a $3.50 price target (down from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Craig Hallum raised shares of Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price target for the company in a research note on Thursday, January 30th. Northland Securities boosted their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, JMP Securities boosted their price target on shares of Planet Labs PBC from $4.50 to $6.50 and gave the stock a "market outperform" rating in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Planet Labs PBC currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.98.

Planet Labs PBC Stock Performance

Shares of NYSE PL opened at $3.82 on Tuesday. The stock has a market cap of $1.15 billion, a P/E ratio of -9.32 and a beta of 1.56. The firm has a 50 day moving average price of $3.54 and a 200 day moving average price of $4.04. Planet Labs PBC has a 52-week low of $1.73 and a 52-week high of $6.71.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The company had revenue of $61.55 million during the quarter, compared to analyst estimates of $61.89 million. Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. During the same quarter last year, the company earned ($0.06) EPS. 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.

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