27,200 Shares in Planet Labs PBC (NYSE:PL) Acquired by nVerses Capital LLC

nVerses Capital LLC bought a new stake in Planet Labs PBC (NYSE:PL) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 27,200 shares of the company’s stock, valued at approximately $61,000.

Several other large investors have also modified their holdings of PL. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Planet Labs PBC in the 2nd quarter valued at about $632,000. Vanguard Group Inc. raised its stake in shares of Planet Labs PBC by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 18,537,261 shares of the company’s stock valued at $47,270,000 after acquiring an additional 261,019 shares during the period. PEAK6 Investments LLC lifted its holdings in shares of Planet Labs PBC by 224.2% in the 1st quarter. PEAK6 Investments LLC now owns 300,120 shares of the company’s stock worth $765,000 after acquiring an additional 207,558 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Planet Labs PBC by 52.2% during the 2nd quarter. Renaissance Technologies LLC now owns 600,800 shares of the company’s stock worth $1,117,000 after purchasing an additional 206,000 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in Planet Labs PBC by 343.7% in the 2nd quarter. Squarepoint Ops LLC now owns 172,092 shares of the company’s stock valued at $320,000 after purchasing an additional 133,307 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Stock Performance

Shares of PL opened at $2.29 on Tuesday. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $2.89. The stock has a market capitalization of $664.41 million, a PE ratio of -4.76 and a beta of 0.98. The stock has a 50-day simple moving average of $2.29 and a 200-day simple moving average of $2.09.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($0.13) earnings per share (EPS) 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 firm had revenue of $61.09 million during the quarter, compared to analysts’ expectations of $61.57 million. Analysts predict that Planet Labs PBC will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PL shares. JMP Securities restated a “market outperform” rating and set a $4.00 price target on shares of Planet Labs PBC in a research note on Thursday, September 26th. Craig Hallum raised their target price on Planet Labs PBC from $2.00 to $2.50 and gave the company a “hold” rating in a report on Friday, September 6th. The Goldman Sachs Group cut their price target on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Needham & Company LLC lowered their price objective 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. Finally, Wedbush reaffirmed an “outperform” rating and set a $5.00 target price 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 stock. According to data from MarketBeat, Planet Labs PBC currently has a consensus rating of “Moderate Buy” and an average price target of $3.93.

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.