JPMorgan Chase & Co. Buys 184,111 Shares of Planet Labs PBC (NYSE:PL)

JPMorgan Chase & Co. boosted its stake in Planet Labs PBC (NYSE:PL) by 90.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 388,129 shares of the company’s stock after purchasing an additional 184,111 shares during the quarter. JPMorgan Chase & Co. owned about 0.13% of Planet Labs PBC worth $866,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PL. Franklin Resources Inc. grew its stake in shares of Planet Labs PBC by 4.1% in the 3rd quarter. Franklin Resources Inc. now owns 1,808,487 shares of the company’s stock valued at $4,105,000 after buying an additional 71,719 shares during the period. Barclays PLC grew its position in shares of Planet Labs PBC by 25.0% during the 3rd quarter. Barclays PLC now owns 326,147 shares of the company’s stock valued at $728,000 after acquiring an additional 65,181 shares during the period. Geode Capital Management LLC increased its position in Planet Labs PBC by 16.5% in the third quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock worth $10,864,000 after buying an additional 689,888 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Planet Labs PBC in the third quarter valued at $406,000. Finally, XTX Topco Ltd raised its position in shares of Planet Labs PBC by 56.8% in the third quarter. XTX Topco Ltd now owns 169,205 shares of the company’s stock valued at $377,000 after purchasing an additional 61,274 shares during the period. Institutional investors and hedge funds own 41.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PL. Citigroup increased their target price on Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Craig Hallum increased 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 report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Cantor Fitzgerald initiated coverage on Planet Labs PBC in a report on Friday. They issued an “overweight” rating and a $6.30 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $5.00 target price on shares of Planet Labs PBC in a report on Friday, January 17th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.54.

Planet Labs PBC Trading Up 14.5 %

NYSE:PL opened at $5.43 on Friday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -13.23 and a beta of 1.32. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $5.55. The stock has a fifty day simple moving average of $4.00 and a 200-day simple moving average of $2.89.

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.