Planet Labs PBC (NYSE:PL) Shares Purchased by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its position in shares of Planet Labs PBC (NYSE:PL) by 31.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 208,101 shares of the company’s stock after acquiring an additional 49,217 shares during the quarter. Alliancebernstein L.P.’s holdings in Planet Labs PBC were worth $841,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PL. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Planet Labs PBC during the fourth quarter worth about $793,000. Pictet Asset Management Holding SA boosted its holdings in shares of Planet Labs PBC by 82.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 37,337 shares of the company’s stock valued at $151,000 after acquiring an additional 16,824 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Planet Labs PBC by 227.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,269,095 shares of the company’s stock worth $5,127,000 after purchasing an additional 880,966 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Planet Labs PBC by 67.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 933,888 shares of the company’s stock valued at $3,941,000 after purchasing an additional 375,256 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Planet Labs PBC during the 4th quarter valued at about $96,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Price Performance

Shares of Planet Labs PBC stock opened at $3.23 on Friday. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $6.71. The stock has a market cap of $974.76 million, a P/E ratio of -7.87 and a beta of 1.56. The stock’s 50 day simple moving average is $4.11 and its 200-day simple moving average is $3.84.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $3.50 target price (down from $6.00) on shares of Planet Labs PBC in a report on Friday, April 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.30 price target on shares of Planet Labs PBC in a research report on Friday, March 21st. Northland Securities boosted their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Benchmark increased their target price on Planet Labs PBC from $4.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Finally, Craig Hallum raised shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $5.98.

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.