AtonRa Partners Reduces Stake in Planet Labs PBC (NYSE:PL)

AtonRa Partners cut its stake in shares of Planet Labs PBC (NYSE:PL) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,863 shares of the company’s stock after selling 16,192 shares during the period. AtonRa Partners’ holdings in Planet Labs PBC were worth $232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. 180 Wealth Advisors LLC lifted its holdings in shares of Planet Labs PBC by 4.1% in the 4th quarter. 180 Wealth Advisors LLC now owns 119,561 shares of the company’s stock worth $285,000 after acquiring an additional 4,747 shares during the last quarter. Swiss National Bank lifted its stake in Planet Labs PBC by 1.4% in the third quarter. Swiss National Bank now owns 420,300 shares of the company’s stock worth $1,093,000 after purchasing an additional 5,800 shares during the last quarter. Perigon Wealth Management LLC boosted its position in shares of Planet Labs PBC by 7.2% during the third quarter. Perigon Wealth Management LLC now owns 113,100 shares of the company’s stock valued at $294,000 after buying an additional 7,600 shares during the period. Xponance Inc. purchased a new position in shares of Planet Labs PBC during the fourth quarter valued at approximately $25,000. Finally, Brandywine Global Investment Management LLC grew its stake in shares of Planet Labs PBC by 2.0% during the third quarter. Brandywine Global Investment Management LLC now owns 543,400 shares of the company’s stock valued at $1,413,000 after buying an additional 10,500 shares during the last quarter. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Stock Down 1.6 %

Shares of NYSE:PL traded down $0.03 during midday trading on Tuesday, reaching $1.71. The company’s stock had a trading volume of 319,697 shares, compared to its average volume of 1,291,115. Planet Labs PBC has a twelve month low of $1.68 and a twelve month high of $5.00. The firm has a market capitalization of $497.34 million, a PE ratio of -3.41 and a beta of 0.78. The stock has a fifty day moving average of $2.13 and a 200 day moving average of $2.24.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $58.85 million for the quarter, compared to the consensus estimate of $57.64 million. Planet Labs PBC had a negative return on equity of 26.14% and a negative net margin of 63.67%. Sell-side analysts anticipate that Planet Labs PBC will post -0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Benchmark decreased their price target on Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Citigroup decreased their target price on Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating for the company in a research report on Thursday, April 4th. The Goldman Sachs Group cut their price target on shares of Planet Labs PBC from $4.80 to $4.20 and set a “buy” rating on the stock in a report on Friday, April 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price target on shares of Planet Labs PBC in a research note on Monday, April 1st. Finally, JMP Securities lowered their price objective on shares of Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating for the company in a research report on Monday, April 1st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.68.

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.