Planet Labs PBC (NYSE:PL) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its position in Planet Labs PBC (NYSE:PL) by 17.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,009 shares of the company’s stock after selling 3,592 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Planet Labs PBC were worth $69,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PL. King Luther Capital Management Corp boosted its stake in shares of Planet Labs PBC by 13.8% during the 3rd quarter. King Luther Capital Management Corp now owns 455,000 shares of the company’s stock valued at $1,015,000 after buying an additional 55,000 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Planet Labs PBC during the 3rd quarter valued at approximately $135,000. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 valued at $3,864,000 after buying an additional 201,084 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of Planet Labs PBC by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 554,332 shares of the company’s stock valued at $1,236,000 after buying an additional 78,410 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Planet Labs PBC by 17.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 84,254 shares of the company’s stock valued at $188,000 after buying an additional 12,404 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Stock Performance

PL stock opened at $4.18 on Tuesday. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -10.18 and a beta of 1.45. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $6.71. The stock’s fifty day moving average is $4.87 and its two-hundred day moving average is $3.62.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Needham & Company LLC increased their target price on Planet Labs PBC from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Northland Securities raised their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group raised their price objective on Planet Labs PBC from $5.00 to $6.40 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Cantor Fitzgerald assumed coverage on Planet Labs PBC in a research note on Friday, January 24th. They set an “overweight” rating and a $6.30 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $6.27.

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.