Price T Rowe Associates Inc. MD Raises Stake in Planet Labs PBC (NYSE:PL)

Price T Rowe Associates Inc. MD boosted its position in Planet Labs PBC (NYSE:PL) by 18.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 84,803 shares of the company’s stock after purchasing an additional 13,414 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Planet Labs PBC were worth $343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in Planet Labs PBC by 90.2% in the third quarter. JPMorgan Chase & Co. now owns 388,129 shares of the company’s stock valued at $866,000 after acquiring an additional 184,111 shares during the period. Aspiring Ventures LLC purchased a new stake in shares of Planet Labs PBC during the fourth quarter worth approximately $849,000. Barclays PLC increased its stake in shares of Planet Labs PBC by 25.0% in the 3rd quarter. Barclays PLC now owns 326,147 shares of the company’s stock worth $728,000 after acquiring an additional 65,181 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Planet Labs PBC by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 15,952,394 shares of the company’s stock worth $64,448,000 after acquiring an additional 397,153 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Planet Labs PBC in the 4th quarter worth $793,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Trading Up 3.2%

NYSE:PL opened at $3.90 on Thursday. The stock’s 50 day simple moving average is $3.54 and its 200-day simple moving average is $3.98. Planet Labs PBC has a 12-month low of $1.73 and a 12-month high of $6.71. The firm has a market cap of $1.18 billion, a P/E ratio of -9.51 and a beta of 1.56.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The business 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 period in the prior year, the company earned ($0.06) EPS. Research analysts forecast that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PL. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price target on shares of Planet Labs PBC in a report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.30 price objective on shares of Planet Labs PBC in a research note on Friday, March 21st. 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 note on Thursday, January 30th. JMP Securities boosted their target price on 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. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $3.50 price target (down previously from $6.00) on shares of Planet Labs PBC in a research report on Friday, April 11th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $5.98.

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.