EntryPoint Capital LLC Takes $96,000 Position in Planet Labs PBC (NYSE:PL)

EntryPoint Capital LLC purchased a new position in shares of Planet Labs PBC (NYSE:PL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 23,793 shares of the company’s stock, valued at approximately $96,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PL. Vanguard Group Inc. increased its position in shares of Planet Labs PBC by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 15,952,394 shares of the company’s stock valued at $64,448,000 after purchasing an additional 397,153 shares during the last quarter. Geode Capital Management LLC grew its position in Planet Labs PBC by 16.5% during the third quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock valued at $10,864,000 after buying an additional 689,888 shares during the period. State Street Corp increased its holdings in Planet Labs PBC by 5.7% during the third quarter. State Street Corp now owns 4,272,633 shares of the company’s stock worth $9,528,000 after buying an additional 230,076 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its position in Planet Labs PBC by 28.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,817,000 shares of the company’s stock worth $4,052,000 after acquiring an additional 400,000 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Planet Labs PBC by 4.1% in the third quarter. Franklin Resources Inc. now owns 1,808,487 shares of the company’s stock valued at $4,105,000 after acquiring an additional 71,719 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Trading Down 7.2 %

Shares of Planet Labs PBC stock opened at $3.45 on Monday. The company’s 50-day moving average price is $4.89 and its 200-day moving average price is $3.73. Planet Labs PBC has a 12-month low of $1.67 and a 12-month high of $6.71. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -8.42 and a beta of 1.45.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $61.55 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned ($0.06) earnings per share. On average, sell-side analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current year.

Analyst Ratings Changes

PL has been the topic of a number of research reports. Craig Hallum raised shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Thursday, January 30th. Northland Securities boosted their target price on Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. JMP Securities increased their price target 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. The Goldman Sachs Group boosted their price objective on Planet Labs PBC from $5.00 to $6.40 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of Planet Labs PBC in a research report on Monday, March 24th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $6.27.

Planet Labs PBC Company 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.