Fmr LLC Acquires 91,690 Shares of Planet Labs PBC (NYSE:PL)

Fmr LLC lifted its holdings in shares of Planet Labs PBC (NYSE:PL) by 25.3% during the third quarter, Holdings Channel.com reports. The firm owned 454,339 shares of the company’s stock after acquiring an additional 91,690 shares during the quarter. Fmr LLC’s holdings in Planet Labs PBC were worth $1,013,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in Planet Labs PBC by 13.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,732,546 shares of the company’s stock worth $3,864,000 after purchasing an additional 201,084 shares during the last quarter. Teramo Advisors LLC increased its stake in shares of Planet Labs PBC by 3.0% in the second quarter. Teramo Advisors LLC now owns 1,132,700 shares of the company’s stock valued at $2,107,000 after buying an additional 32,700 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Planet Labs PBC by 9.7% in the second quarter. Bank of New York Mellon Corp now owns 636,374 shares of the company’s stock valued at $1,184,000 after buying an additional 56,124 shares during the period. Renaissance Technologies LLC raised its position in shares of Planet Labs PBC by 52.2% during the second quarter. Renaissance Technologies LLC now owns 600,800 shares of the company’s stock worth $1,117,000 after acquiring an additional 206,000 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its stake in shares of Planet Labs PBC by 16.5% in the third quarter. Penserra Capital Management LLC now owns 554,332 shares of the company’s stock worth $1,236,000 after acquiring an additional 78,410 shares during the period. Institutional investors own 41.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Craig Hallum increased their target price on shares of Planet Labs PBC from $2.50 to $3.50 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price objective on shares of Planet Labs PBC in a research report on Tuesday, December 10th. The Goldman Sachs Group lowered their target price on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Citigroup upped their price target on shares of Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a research report on Monday. Finally, JMP Securities reiterated a “market outperform” rating and set a $4.50 price target (up from $4.00) on shares of Planet Labs PBC in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $4.30.

Planet Labs PBC Stock Up 7.9 %

Planet Labs PBC stock opened at $4.33 on Tuesday. The company has a market capitalization of $1.28 billion, a PE ratio of -10.55 and a beta of 1.34. Planet Labs PBC has a 12-month low of $1.67 and a 12-month high of $4.99. The firm’s fifty day moving average is $3.00 and its 200 day moving average is $2.45.

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.