nVerses Capital LLC Acquires Shares of 27,200 Planet Labs PBC (NYSE:PL)

nVerses Capital LLC bought a new position in shares of Planet Labs PBC (NYSE:PL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,200 shares of the company’s stock, valued at approximately $61,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PL. The Manufacturers Life Insurance Company raised its stake in shares of Planet Labs PBC by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company’s stock valued at $134,000 after buying an additional 5,395 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Planet Labs PBC by 14.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,678 shares of the company’s stock valued at $130,000 after acquiring an additional 6,215 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in Planet Labs PBC by 11.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock worth $121,000 after purchasing an additional 6,910 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of 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 during the period. Finally, 180 Wealth Advisors LLC increased its holdings in shares of Planet Labs PBC by 9.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 130,926 shares of the company’s stock valued at $334,000 after purchasing an additional 11,365 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Planet Labs PBC Stock Performance

Shares of PL stock opened at $2.29 on Tuesday. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week high of $2.89. The firm has a market capitalization of $664.41 million, a P/E ratio of -4.76 and a beta of 0.98. The stock’s fifty day moving average is $2.29 and its two-hundred day moving average is $2.09.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings results on Thursday, September 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The business had revenue of $61.09 million for the quarter, compared to analyst estimates of $61.57 million. Planet Labs PBC had a negative return on equity of 26.87% and a negative net margin of 57.71%. On average, equities analysts forecast that Planet Labs PBC will post -0.4 earnings per share for the current year.

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.