Vanguard Personalized Indexing Management LLC Boosts Holdings in Planet Labs PBC (NYSE:PL)

Vanguard Personalized Indexing Management LLC grew its holdings in Planet Labs PBC (NYSE:PL) by 11.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,256 shares of the company’s stock after purchasing an additional 6,910 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Planet Labs PBC were worth $121,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Perkins Coie Trust Co purchased a new position in shares of Planet Labs PBC in the second quarter valued at approximately $28,000. Virtu Financial LLC purchased a new position in shares of Planet Labs PBC in the first quarter valued at approximately $52,000. Quadrature Capital Ltd purchased a new position in shares of Planet Labs PBC in the first quarter valued at approximately $66,000. SG Americas Securities LLC boosted its stake in shares of Planet Labs PBC by 234.6% in the second quarter. SG Americas Securities LLC now owns 44,442 shares of the company’s stock valued at $83,000 after purchasing an additional 31,160 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Planet Labs PBC by 14.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,678 shares of the company’s stock valued at $130,000 after purchasing an additional 6,215 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PL. The Goldman Sachs Group decreased their price target 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. Craig Hallum lifted their price target on shares of Planet Labs PBC from $2.00 to $2.50 and gave the stock a “hold” rating in a research note on Friday, September 6th. Needham & Company LLC decreased their price target on shares of Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and issued a $4.00 price target on shares of Planet Labs PBC in a research note on Thursday, September 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $5.00 price target on shares of Planet Labs PBC in a research note on Friday, August 16th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.93.

Planet Labs PBC Trading Down 0.4 %

PL stock opened at $2.23 on Tuesday. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $2.89. The company’s 50 day moving average is $2.30 and its two-hundred day moving average is $2.10. The stock has a market cap of $648.42 million, a P/E ratio of -4.65 and a beta of 1.00.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Thursday, September 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Planet Labs PBC had a negative return on equity of 26.87% and a negative net margin of 57.71%. The company had revenue of $61.09 million for the quarter, compared to analyst estimates of $61.57 million. On average, equities research analysts predict that Planet Labs PBC will post -0.41 earnings per share for the current year.

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.