Planet Labs PBC Target of Unusually High Options Trading (NYSE:PL)

Planet Labs PBC (NYSE:PL - Get Free Report) was the target of unusually large options trading on Thursday. Stock investors purchased 16,374 call options on the company. This is an increase of approximately 310% compared to the typical daily volume of 3,996 call options.

Institutional Investors Weigh In On Planet Labs PBC

A number of large investors have recently modified their holdings of PL. Xponance Inc. boosted its position in Planet Labs PBC by 12.0% during the 4th quarter. Xponance Inc. now owns 14,959 shares of the company's stock valued at $60,000 after acquiring an additional 1,608 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of 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 purchasing an additional 3,245 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of Planet Labs PBC by 19.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 22,577 shares of the company's stock valued at $91,000 after purchasing an additional 3,753 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Planet Labs PBC by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 122,655 shares of the company's stock valued at $496,000 after purchasing an additional 5,785 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in 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 period. Institutional investors own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PL. The Goldman Sachs Group reiterated a "neutral" rating and set a $3.50 price target (down from $6.00) on shares of Planet Labs PBC in a research report on Friday, April 11th. Wedbush increased their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Needham & Company LLC restated a "buy" rating and set a $8.00 price objective on shares of Planet Labs PBC in a research report on Thursday, June 5th. Wall Street Zen upgraded shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $8.50 target price (up previously from $6.30) on shares of Planet Labs PBC in a research note on Tuesday, June 24th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $6.60.

Planet Labs PBC Stock Down 0.2%

Shares of NYSE:PL traded down $0.02 during midday trading on Friday, hitting $6.05. 26,416,731 shares of the stock traded hands, compared to its average volume of 4,675,178. Planet Labs PBC has a one year low of $1.73 and a one year high of $6.71. The stock has a market capitalization of $1.83 billion, a PE ratio of -16.79 and a beta of 1.61. The business's 50 day moving average is $4.26 and its two-hundred day moving average is $4.32.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. Planet Labs PBC had a negative return on equity of 23.36% and a negative net margin of 42.58%. The company had revenue of $66.27 million during the quarter, compared to analyst estimates of $62.25 million. As a group, sell-side analysts forecast 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.