Dimensional Fund Advisors LP Sells 290,452 Shares of Planet Labs PBC (NYSE:PL)

Dimensional Fund Advisors LP cut its position in Planet Labs PBC (NYSE:PL) by 28.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 729,520 shares of the company’s stock after selling 290,452 shares during the period. Dimensional Fund Advisors LP owned 0.25% of Planet Labs PBC worth $1,357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PL. American Century Companies Inc. boosted its position in shares of Planet Labs PBC by 15.7% during the second quarter. American Century Companies Inc. now owns 316,535 shares of the company’s stock valued at $589,000 after buying an additional 42,847 shares during the last quarter. Teramo Advisors LLC grew its stake in shares of Planet Labs PBC by 3.0% in the 2nd quarter. Teramo Advisors LLC now owns 1,132,700 shares of the company’s stock worth $2,107,000 after acquiring an additional 32,700 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Planet Labs PBC by 12.0% in the second quarter. Rhumbline Advisers now owns 268,380 shares of the company’s stock valued at $499,000 after purchasing an additional 28,835 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Planet Labs PBC by 13.0% during the second quarter. Van ECK Associates Corp now owns 103,768 shares of the company’s stock valued at $193,000 after purchasing an additional 11,951 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Planet Labs PBC during the second quarter worth about $632,000. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Trading Up 7.6 %

NYSE:PL opened at $2.26 on Friday. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $2.89. The company has a 50-day moving average price of $2.27 and a 200-day moving average price of $2.09. The stock has a market cap of $663.26 million, a price-to-earnings ratio of -4.81 and a beta of 0.98.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $61.09 million during the quarter, compared to analysts’ expectations of $61.57 million. Planet Labs PBC had a negative return on equity of 26.87% and a negative net margin of 57.71%. Equities analysts forecast that Planet Labs PBC will post -0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. The Goldman Sachs Group dropped their price target on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Wedbush restated an “outperform” rating and set a $5.00 price objective on shares of Planet Labs PBC in a report on Friday, August 16th. Needham & Company LLC reduced their target price on shares of Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $4.00 price target on shares of Planet Labs PBC in a report on Thursday, September 26th. Finally, Craig Hallum raised their target price on Planet Labs PBC from $2.00 to $2.50 and gave the stock a “hold” rating in a research report on Friday, September 6th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3.93.

About Planet Labs PBC

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.