Graham Capital Management L.P. Makes New Investment in Planet Labs PBC (NYSE:PL)

Graham Capital Management L.P. purchased a new position in Planet Labs PBC (NYSE:PL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 113,955 shares of the company's stock, valued at approximately $460,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC grew its holdings 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 purchasing an additional 6,072 shares during the last quarter. Monterey Private Wealth Inc. purchased a new position in Planet Labs PBC in the 4th quarter worth about $40,000. Wedbush Securities Inc. purchased a new position in Planet Labs PBC in the 4th quarter worth about $41,000. SBI Securities Co. Ltd. purchased a new position in Planet Labs PBC in the 4th quarter worth about $42,000. Finally, Sciencast Management LP purchased a new position in Planet Labs PBC in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

Planet Labs PBC Stock Down 2.8%

Shares of Planet Labs PBC stock traded down $0.11 during trading on Monday, reaching $3.82. The company's stock had a trading volume of 2,297,873 shares, compared to its average volume of 3,660,070. Planet Labs PBC has a 1-year low of $1.73 and a 1-year high of $6.71. The company has a 50-day simple moving average of $3.55 and a two-hundred day simple moving average of $4.02. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -9.32 and a beta of 1.56.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). The business had revenue of $61.55 million for the quarter, compared to analysts' expectations of $61.89 million. Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. During the same quarter in the previous year, the firm posted ($0.06) EPS. As a group, analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PL shares. The Goldman Sachs Group restated a "neutral" rating and set a $3.50 price target (down previously from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Cantor Fitzgerald restated an "overweight" rating and issued a $6.30 price target on shares of Planet Labs PBC in a report on Friday, March 21st. JMP Securities upped 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 report on Thursday, January 30th. Craig Hallum raised shares of Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price objective on the stock in a report on Thursday, January 30th. Finally, Benchmark upped their target price on Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $5.98.

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.