Planet Labs PBC (NYSE:PL) Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC increased its holdings in shares of Planet Labs PBC (NYSE:PL) by 16.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 554,332 shares of the company’s stock after buying an additional 78,410 shares during the period. Penserra Capital Management LLC’s holdings in Planet Labs PBC were worth $1,236,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Perkins Coie Trust Co bought a new position in shares of Planet Labs PBC during the second quarter valued at approximately $28,000. Algert Global LLC bought a new stake in shares of Planet Labs PBC in the 2nd quarter worth approximately $38,000. Valeo Financial Advisors LLC acquired a new position in Planet Labs PBC during the 3rd quarter valued at approximately $45,000. Vontobel Holding Ltd. grew its stake in Planet Labs PBC by 81.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after buying an additional 10,000 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Planet Labs PBC in the first quarter worth $52,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PL. JMP Securities reissued a “market outperform” rating and set a $4.00 price target on shares of Planet Labs PBC in a report on Thursday, September 26th. Needham & Company LLC reduced their target price 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. The Goldman Sachs Group dropped 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. Craig Hallum lifted their price target on Planet Labs PBC from $2.00 to $2.50 and gave the company a “hold” rating in a report on Friday, September 6th. Finally, Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Planet Labs PBC in a report on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Planet Labs PBC has a consensus rating of “Moderate Buy” and a consensus price target of $3.93.

Planet Labs PBC Trading Down 2.8 %

Planet Labs PBC stock opened at $3.68 on Wednesday. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $3.89. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -7.82 and a beta of 0.97. The company’s 50-day moving average price is $2.47 and its two-hundred day moving average price is $2.24.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Planet Labs PBC had a negative net margin of 57.71% and a negative return on equity of 26.87%. The company had revenue of $61.09 million during the quarter, compared to the consensus estimate of $61.57 million. Research analysts expect that Planet Labs PBC will post -0.41 earnings per share for the current fiscal 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.