Van ECK Associates Corp Has $2.10 Million Stock Holdings in Planet Labs PBC (NYSE:PL)

Van ECK Associates Corp raised its position in shares of Planet Labs PBC (NYSE:PL) by 244.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 520,364 shares of the company’s stock after purchasing an additional 369,206 shares during the period. Van ECK Associates Corp owned approximately 0.18% of Planet Labs PBC worth $2,102,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vontobel Holding Ltd. increased its position in Planet Labs PBC by 81.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after purchasing an additional 10,000 shares in the last quarter. Monterey Private Wealth Inc. bought a new stake in shares of Planet Labs PBC during the fourth quarter worth $40,000. The Manufacturers Life Insurance Company increased its holdings in shares of Planet Labs PBC by 17.3% during the third quarter. The Manufacturers Life Insurance Company now owns 84,254 shares of the company’s stock worth $188,000 after buying an additional 12,404 shares in the last quarter. PFG Investments LLC bought a new position in shares of Planet Labs PBC in the 4th quarter valued at $55,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Planet Labs PBC by 65.9% during the 3rd quarter. SG Americas Securities LLC now owns 73,723 shares of the company’s stock valued at $164,000 after acquiring an additional 29,281 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Trading Down 3.3 %

Shares of Planet Labs PBC stock opened at $5.45 on Friday. The company has a market cap of $1.62 billion, a P/E ratio of -13.28 and a beta of 1.40. The business has a 50-day moving average price of $4.83 and a two-hundred day moving average price of $3.39. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $6.71.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Northland Securities upped their target price on Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. The Goldman Sachs Group raised their price objective on shares of Planet Labs PBC from $5.00 to $6.40 and gave the company a “buy” rating in a report on Monday, February 3rd. Needham & Company LLC boosted their target price on shares of Planet Labs PBC from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Finally, Citigroup lifted their price target on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $6.27.

About Planet Labs PBC

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.