60,601 Shares in Planet Labs PBC (NYSE:PL) Bought by Intech Investment Management LLC

Intech Investment Management LLC bought a new position in shares of Planet Labs PBC (NYSE:PL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 60,601 shares of the company’s stock, valued at approximately $135,000.

Several other institutional investors and hedge funds have also bought and sold shares of PL. Valeo Financial Advisors LLC bought a new position in shares of Planet Labs PBC in the third quarter valued at $45,000. Algert Global LLC bought a new position in shares of Planet Labs PBC in the second quarter valued at $38,000. Vontobel Holding Ltd. lifted its stake in shares of Planet Labs PBC by 81.5% in the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock valued at $50,000 after buying an additional 10,000 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Planet Labs PBC in the third quarter valued at $61,000. Finally, SG Americas Securities LLC lifted its stake in shares of Planet Labs PBC by 234.6% in the second quarter. SG Americas Securities LLC now owns 44,442 shares of the company’s stock valued at $83,000 after buying an additional 31,160 shares in the last quarter. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Stock Performance

Shares of PL stock opened at $4.16 on Friday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -8.85 and a beta of 1.34. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $4.99. The firm’s 50-day simple moving average is $2.79 and its two-hundred day simple moving average is $2.35.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings results on Thursday, September 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Planet Labs PBC had a negative net margin of 57.71% and a negative return on equity of 26.87%. The business had revenue of $61.09 million during the quarter, compared to the consensus estimate of $61.57 million. Analysts forecast that Planet Labs PBC will post -0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Craig Hallum boosted their price target on shares of Planet Labs PBC from $2.00 to $2.50 and gave the stock a “hold” rating in a report on Friday, September 6th. JMP Securities restated a “market outperform” rating and set a $4.00 price target on shares of Planet Labs PBC in a report on Thursday, September 26th. Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Planet Labs PBC in a report on Friday, August 16th. Finally, Needham & Company LLC cut their price target on shares of Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, September 6th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Planet Labs PBC presently has an average rating of “Moderate Buy” and a consensus target price of $3.93.

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.