State Street Corp Has $9.53 Million Position in Planet Labs PBC (NYSE:PL)

State Street Corp boosted its position in shares of Planet Labs PBC (NYSE:PL) by 5.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,272,633 shares of the company’s stock after buying an additional 230,076 shares during the quarter. State Street Corp’s holdings in Planet Labs PBC were worth $9,528,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PL. Algert Global LLC bought a new position in shares of Planet Labs PBC in the 2nd quarter valued at about $38,000. Valeo Financial Advisors LLC bought a new position in Planet Labs PBC in the third quarter valued at approximately $45,000. Vontobel Holding Ltd. boosted its stake in Planet Labs PBC by 81.5% in the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock valued at $50,000 after acquiring an additional 10,000 shares during the last quarter. nVerses Capital LLC acquired a new stake in Planet Labs PBC during the 3rd quarter worth $61,000. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Planet Labs PBC by 11.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock valued at $121,000 after acquiring an additional 6,910 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PL. Craig Hallum raised their price target on Planet Labs PBC from $2.50 to $3.50 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. JMP Securities restated a “market outperform” rating and set a $4.50 target price (up from $4.00) on shares of Planet Labs PBC in a research report on Monday, December 9th. The Goldman Sachs Group lowered their price target on 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 lifted their price objective on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.33.

Planet Labs PBC Stock Performance

Shares of PL opened at $4.52 on Friday. The stock has a 50 day simple moving average of $3.30 and a 200 day simple moving average of $2.57. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $4.99. The firm has a market capitalization of $1.34 billion, a PE ratio of -11.02 and a beta of 1.34.

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.