Legal & General Group Plc Acquires 26,333 Shares of Planet Labs PBC (NYSE:PL)

Legal & General Group Plc raised its holdings in Planet Labs PBC (NYSE:PL) by 12.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 231,595 shares of the company’s stock after acquiring an additional 26,333 shares during the quarter. Legal & General Group Plc’s holdings in Planet Labs PBC were worth $936,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. grew its position in shares of Planet Labs PBC by 14.3% during the 4th quarter. Invesco Ltd. now owns 287,843 shares of the company’s stock worth $1,163,000 after buying an additional 35,990 shares in the last quarter. Polymer Capital Management US LLC bought a new position in shares of Planet Labs PBC during the 4th quarter worth $140,000. Wedbush Securities Inc. bought a new position in shares of Planet Labs PBC during the 4th quarter worth $41,000. Wells Fargo & Company MN grew its position in shares of Planet Labs PBC by 129.3% during the 4th quarter. Wells Fargo & Company MN now owns 346,631 shares of the company’s stock worth $1,400,000 after buying an additional 195,471 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of Planet Labs PBC during the 4th quarter worth $1,497,000. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Up 1.2 %

PL stock opened at $3.39 on Monday. The firm has a 50 day moving average of $3.81 and a 200 day moving average of $3.89. The stock has a market capitalization of $1.02 billion, a PE ratio of -8.27 and a beta of 1.56. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $6.71.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. The business had revenue of $61.55 million for the quarter, compared to analyst estimates of $61.89 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. On average, equities research analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group restated a “neutral” rating and set a $3.50 price objective (down from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Cantor Fitzgerald restated an “overweight” rating and set a $6.30 price objective on shares of Planet Labs PBC in a research note on Friday, March 21st. Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of Planet Labs PBC in a research note on Monday, March 24th. Benchmark upped their price objective on Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, Northland Securities upped their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Planet Labs PBC presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.98.

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.