Cibc World Markets Corp Makes New $82,000 Investment in Planet Labs PBC (NYSE:PL)

Cibc World Markets Corp purchased a new stake in Planet Labs PBC (NYSE:PL) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 20,197 shares of the company’s stock, valued at approximately $82,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swiss National Bank grew its stake in shares of Planet Labs PBC by 2.7% in the 4th quarter. Swiss National Bank now owns 401,700 shares of the company’s stock valued at $1,623,000 after buying an additional 10,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Planet Labs PBC by 313.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 289,884 shares of the company’s stock valued at $1,171,000 after acquiring an additional 219,702 shares during the period. King Luther Capital Management Corp increased its holdings in shares of Planet Labs PBC by 9.9% during the fourth quarter. King Luther Capital Management Corp now owns 500,000 shares of the company’s stock valued at $2,020,000 after acquiring an additional 45,000 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Planet Labs PBC during the fourth quarter worth approximately $1,648,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Planet Labs PBC by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,770,146 shares of the company’s stock worth $7,151,000 after purchasing an additional 37,600 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PL has been the topic of several research reports. Cantor Fitzgerald restated an “overweight” rating and set a $6.30 price objective on shares of Planet Labs PBC in a report on Friday, March 21st. Needham & Company LLC restated a “buy” rating and issued a $8.00 target price on shares of Planet Labs PBC in a report on Monday. The Goldman Sachs Group lifted their price target on Planet Labs PBC from $5.00 to $6.40 and gave the company a “buy” rating in a research note on Monday, February 3rd. Benchmark increased their price objective on Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, Craig Hallum raised Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Thursday, January 30th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $6.27.

Planet Labs PBC Trading Down 3.0 %

Shares of PL opened at $3.72 on Friday. The stock has a 50 day moving average of $4.89 and a 200 day moving average of $3.69. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -9.06 and a beta of 1.45. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $6.71.

Planet Labs PBC (NYSE:PL) last announced its earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The business had revenue of $61.55 million for the quarter, compared to analysts’ expectations of $61.89 million. Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. During the same period in the prior year, the business earned ($0.06) earnings per share. As a group, equities research analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current year.

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.