MetLife Investment Management LLC Has $534,000 Stock Position in Planet Labs PBC (NYSE:PL)

MetLife Investment Management LLC raised its holdings in shares of Planet Labs PBC (NYSE:PL) by 22.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,120 shares of the company’s stock after buying an additional 24,419 shares during the quarter. MetLife Investment Management LLC’s holdings in Planet Labs PBC were worth $534,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC increased its position in Planet Labs PBC by 790.6% during the fourth quarter. Sterling Capital Management LLC now owns 6,840 shares of the company’s stock worth $28,000 after acquiring an additional 6,072 shares during the period. Monterey Private Wealth Inc. acquired a new position in shares of Planet Labs PBC during the fourth quarter valued at about $40,000. Wedbush Securities Inc. bought a new stake in shares of Planet Labs PBC in the fourth quarter valued at about $41,000. SBI Securities Co. Ltd. bought a new stake in shares of Planet Labs PBC in the fourth quarter valued at about $42,000. Finally, Sciencast Management LP acquired a new stake in Planet Labs PBC during the fourth quarter worth about $43,000. 41.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PL has been the subject of a number of research reports. Craig Hallum upgraded Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Thursday, January 30th. JMP Securities lifted their price target on shares of Planet Labs PBC from $4.50 to $6.50 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Benchmark increased their price objective on shares of Planet Labs PBC from $4.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group reiterated a “neutral” rating and set a $3.50 target price (down from $6.00) on shares of Planet Labs PBC in a research report on Friday, April 11th. Finally, Northland Securities raised their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Planet Labs PBC has a consensus rating of “Moderate Buy” and an average price target of $5.98.

Planet Labs PBC Price Performance

Shares of PL opened at $3.47 on Tuesday. The company has a market capitalization of $1.05 billion, a P/E ratio of -8.45 and a beta of 1.56. Planet Labs PBC has a one year low of $1.73 and a one year high of $6.71. The business’s 50 day simple moving average is $3.62 and its 200-day simple moving average is $3.94.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. The business had revenue of $61.55 million during the quarter, compared to analyst estimates of $61.89 million. During the same period in the prior year, the firm posted ($0.06) EPS. On average, sell-side analysts anticipate that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

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.