Vontobel Holding Ltd. Has $50,000 Stake in Planet Labs PBC (NYSE:PL)

Vontobel Holding Ltd. grew its position in Planet Labs PBC (NYSE:PL) by 81.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,270 shares of the company’s stock after acquiring an additional 10,000 shares during the period. Vontobel Holding Ltd.’s holdings in Planet Labs PBC were worth $50,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 180 Wealth Advisors LLC raised its stake in Planet Labs PBC by 9.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 130,926 shares of the company’s stock valued at $334,000 after acquiring an additional 11,365 shares during the period. Perigon Wealth Management LLC raised its position in shares of Planet Labs PBC by 15.5% in the first quarter. Perigon Wealth Management LLC now owns 112,000 shares of the company’s stock valued at $286,000 after purchasing an additional 15,000 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Planet Labs PBC during the 1st quarter worth about $164,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Planet Labs PBC by 2.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,269 shares of the company’s stock worth $1,495,000 after buying an additional 13,075 shares during the period. Finally, Vanguard Group Inc. grew its stake in Planet Labs PBC by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 18,537,261 shares of the company’s stock valued at $47,270,000 after buying an additional 261,019 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Trading Down 1.1 %

Shares of Planet Labs PBC stock opened at $2.29 on Thursday. The company has a market cap of $664.41 million, a PE ratio of -4.75 and a beta of 0.98. The company has a 50 day moving average of $2.30 and a 200-day moving average of $2.09. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $2.89.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on PL. Needham & Company LLC cut their price objective on shares of Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, September 6th. JMP Securities restated a “market outperform” rating and issued a $4.00 price target on shares of Planet Labs PBC in a research note on Thursday, September 26th. Craig Hallum increased their price objective on Planet Labs PBC from $2.00 to $2.50 and gave the stock a “hold” rating in a research report on Friday, September 6th. Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of Planet Labs PBC in a research report on Friday, August 16th. Finally, The Goldman Sachs Group lowered 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 research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $3.93.

Planet Labs PBC 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.