Rhumbline Advisers Has $1.16 Million Holdings in Planet Labs PBC (NYSE:PL)

Rhumbline Advisers grew its position in Planet Labs PBC (NYSE:PL) by 5.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 287,258 shares of the company’s stock after acquiring an additional 13,580 shares during the period. Rhumbline Advisers owned 0.10% of Planet Labs PBC worth $1,161,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PL. Monterey Private Wealth Inc. acquired a new position in Planet Labs PBC in the 4th quarter valued at approximately $40,000. The Manufacturers Life Insurance Company grew its stake in shares of Planet Labs PBC by 17.3% in the third quarter. The Manufacturers Life Insurance Company now owns 84,254 shares of the company’s stock worth $188,000 after purchasing an additional 12,404 shares during the last quarter. PFG Investments LLC acquired a new stake in Planet Labs PBC in the fourth quarter valued at $55,000. Van ECK Associates Corp raised its position in Planet Labs PBC by 45.7% during the 3rd quarter. Van ECK Associates Corp now owns 151,158 shares of the company’s stock worth $345,000 after purchasing an additional 47,390 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its holdings in Planet Labs PBC by 13.8% during the 3rd quarter. King Luther Capital Management Corp now owns 455,000 shares of the company’s stock worth $1,015,000 after buying an additional 55,000 shares during the period. Institutional investors and hedge funds own 41.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PL. Northland Securities increased their price target on Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft increased their target price 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. Needham & Company LLC boosted their price target on shares of Planet Labs PBC from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Craig Hallum raised shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Thursday, January 30th. Finally, Benchmark upped their price target on shares of Planet Labs PBC from $4.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $6.27.

Planet Labs PBC Stock Performance

PL stock opened at $4.39 on Thursday. The stock’s 50 day simple moving average is $4.91 and its 200 day simple moving average is $3.55. The company has a market cap of $1.30 billion, a P/E ratio of -10.70 and a beta of 1.40. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week high of $6.71.

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.