Investors Buy Large Volume of Call Options on Planet Labs PBC (NYSE:PL)

Planet Labs PBC (NYSE:PL) was the target of some unusual options trading on Tuesday. Investors purchased 12,533 call options on the company. This represents an increase of approximately 85% compared to the typical volume of 6,758 call options.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Xponance Inc. raised its holdings in Planet Labs PBC by 12.0% in the 4th quarter. Xponance Inc. now owns 14,959 shares of the company’s stock worth $60,000 after purchasing an additional 1,608 shares during the period. Summit Investment Advisors Inc. increased its position in Planet Labs PBC by 19.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 22,577 shares of the company’s stock worth $91,000 after buying an additional 3,753 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Planet Labs PBC by 4.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 122,655 shares of the company’s stock worth $496,000 after buying an additional 5,785 shares during the period. Sterling Capital Management LLC lifted its position in shares of Planet Labs PBC by 790.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company’s stock valued at $28,000 after buying an additional 6,072 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Planet Labs PBC by 2.3% during the 1st quarter. Rhumbline Advisers now owns 293,950 shares of the company’s stock valued at $994,000 after buying an additional 6,692 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Performance

Planet Labs PBC stock opened at $3.20 on Thursday. The stock has a market cap of $967.20 million, a PE ratio of -7.80 and a beta of 1.56. The stock has a fifty day moving average of $4.23 and a 200 day moving average of $3.82. Planet Labs PBC has a one year low of $1.67 and a one year high of $6.71.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The business had revenue of $61.55 million during the quarter, compared to the consensus estimate 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 last year, the company earned ($0.06) EPS. As a group, sell-side analysts predict that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PL shares. Cantor Fitzgerald restated an “overweight” rating and set a $6.30 price target on shares of Planet Labs PBC in a report on Friday, March 21st. Northland Securities upped their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Benchmark increased their price target on shares of Planet Labs PBC from $4.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Craig Hallum raised Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Thursday, January 30th. Finally, JMP Securities lifted their target price on Planet Labs PBC from $4.50 to $6.50 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Planet Labs PBC has an average rating of “Moderate Buy” and a consensus target price of $5.98.

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.