Walleye Capital LLC trimmed its stake in shares of Planet Labs PBC (NYSE:PL - Free Report) by 86.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 11,950 shares of the company's stock after selling 74,313 shares during the quarter. Walleye Capital LLC's holdings in Planet Labs PBC were worth $48,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of PL. JPMorgan Chase & Co. increased its stake in shares of Planet Labs PBC by 90.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 388,129 shares of the company's stock valued at $866,000 after purchasing an additional 184,111 shares during the last quarter. Aspiring Ventures LLC bought a new position in Planet Labs PBC in the fourth quarter valued at about $849,000. Barclays PLC raised its stake in Planet Labs PBC by 25.0% during the third quarter. Barclays PLC now owns 326,147 shares of the company's stock worth $728,000 after acquiring an additional 65,181 shares in the last quarter. Geode Capital Management LLC raised its stake in Planet Labs PBC by 16.5% during the third quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company's stock worth $10,864,000 after acquiring an additional 689,888 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Planet Labs PBC by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 15,952,394 shares of the company's stock valued at $64,448,000 after purchasing an additional 397,153 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.
Planet Labs PBC Stock Performance
Planet Labs PBC stock traded up $0.18 during mid-day trading on Friday, reaching $3.53. The stock had a trading volume of 1,502,645 shares, compared to its average volume of 3,557,771. The firm has a market capitalization of $1.07 billion, a PE ratio of -8.60 and a beta of 1.56. Planet Labs PBC has a fifty-two week low of $1.73 and a fifty-two week high of $6.71. The stock's 50-day simple moving average is $3.67 and its 200-day simple moving average is $3.90.
Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. The business had revenue of $61.55 million for the quarter, compared to the consensus estimate of $61.89 million. During the same quarter last year, the firm posted ($0.06) EPS. On average, research analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on PL shares. Craig Hallum raised shares of Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 target price on the stock in a research note on Thursday, January 30th. Benchmark boosted their price objective on Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Northland Securities upped their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $6.30 price target on shares of Planet Labs PBC in a research note on Friday, March 21st. Finally, JMP Securities lifted their target price 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 investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Planet Labs PBC presently has an average rating of "Moderate Buy" and an average target price of $5.98.
View Our Latest Stock Analysis on Planet Labs PBC
Planet Labs PBC Profile
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Free Report)
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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