SBI Securities Co. Ltd. Makes New $42,000 Investment in Planet Labs PBC (NYSE:PL)

SBI Securities Co. Ltd. acquired a new stake in shares of Planet Labs PBC (NYSE:PL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,378 shares of the company’s stock, valued at approximately $42,000.

A number of other hedge funds have also made changes to their positions in the stock. Monterey Private Wealth Inc. bought a new position in shares of Planet Labs PBC during the 4th quarter worth approximately $40,000. The Manufacturers Life Insurance Company grew its stake 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 purchasing an additional 12,404 shares during the period. PFG Investments LLC acquired a new stake in shares of Planet Labs PBC during the fourth quarter worth $55,000. Rhumbline Advisers grew its stake in shares of Planet Labs PBC by 5.0% during the fourth quarter. Rhumbline Advisers now owns 287,258 shares of the company’s stock worth $1,161,000 after purchasing an additional 13,580 shares during the period. Finally, Crown Wealth Group LLC acquired a new stake in shares of Planet Labs PBC during the fourth quarter worth $78,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Stock Up 5.6 %

NYSE PL opened at $3.85 on Wednesday. The stock has a fifty day simple moving average of $4.87 and a 200 day simple moving average of $3.58. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $6.71. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -9.38 and a beta of 1.45.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PL shares. Cantor Fitzgerald started coverage on Planet Labs PBC in a report on Friday, January 24th. They set an “overweight” rating and a $6.30 target price on the stock. JMP Securities upped their target price on Planet Labs PBC from $4.50 to $6.50 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. Craig Hallum upgraded Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft boosted their price target on Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Finally, Northland Securities boosted their price target on Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Planet Labs PBC presently has a consensus rating of “Buy” and an average price target of $6.27.

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.