Fmr LLC Has $1.01 Million Stock Holdings in Planet Labs PBC (NYSE:PL)

Fmr LLC boosted its position in Planet Labs PBC (NYSE:PL) by 25.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 454,339 shares of the company’s stock after purchasing an additional 91,690 shares during the period. Fmr LLC owned about 0.15% of Planet Labs PBC worth $1,013,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Planet Labs PBC by 13.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,732,546 shares of the company’s stock valued at $3,864,000 after purchasing an additional 201,084 shares during the period. Teramo Advisors LLC grew its stake in Planet Labs PBC by 3.0% in the 2nd quarter. Teramo Advisors LLC now owns 1,132,700 shares of the company’s stock valued at $2,107,000 after buying an additional 32,700 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Planet Labs PBC by 9.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 636,374 shares of the company’s stock valued at $1,184,000 after acquiring an additional 56,124 shares during the period. Renaissance Technologies LLC lifted its position in Planet Labs PBC by 52.2% during the second quarter. Renaissance Technologies LLC now owns 600,800 shares of the company’s stock worth $1,117,000 after acquiring an additional 206,000 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its position in Planet Labs PBC by 16.5% during the third quarter. Penserra Capital Management LLC now owns 554,332 shares of the company’s stock worth $1,236,000 after acquiring an additional 78,410 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Stock Performance

Shares of PL opened at $4.33 on Tuesday. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $4.99. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -10.55 and a beta of 1.34. The stock has a fifty day moving average of $3.00 and a 200-day moving average of $2.45.

Analysts Set New Price Targets

PL has been the subject of several research reports. JMP Securities reissued a “market outperform” rating and set a $4.50 price target (up from $4.00) on shares of Planet Labs PBC in a report on Monday, December 9th. The Goldman Sachs Group reduced their target price on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Craig Hallum upped their price target on shares of Planet Labs PBC from $2.50 to $3.50 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Citigroup boosted their price objective on shares of Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a report on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of Planet Labs PBC in a report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.30.

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.