Squarepoint Ops LLC Makes New Investment in Planet Labs PBC (NYSE:PL)

Squarepoint Ops LLC purchased a new stake in Planet Labs PBC (NYSE:PL) during the fourth quarter, HoldingsChannel reports. The firm purchased 79,388 shares of the company’s stock, valued at approximately $321,000.

Several other large investors have also recently bought and sold shares of PL. Sterling Capital Management LLC increased its position in Planet Labs PBC by 790.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company’s stock worth $28,000 after buying an additional 6,072 shares during the period. Wedbush Securities Inc. bought a new position in Planet Labs PBC during the fourth quarter worth about $41,000. SBI Securities Co. Ltd. bought a new position in Planet Labs PBC during the fourth quarter worth about $42,000. Sciencast Management LP bought a new position in Planet Labs PBC during the fourth quarter worth about $43,000. Finally, Cetera Investment Advisers bought a new position in Planet Labs PBC during the fourth quarter worth about $46,000. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Trading Down 2.0%

Shares of PL opened at $5.84 on Friday. Planet Labs PBC has a 12 month low of $1.73 and a 12 month high of $6.71. The company has a market cap of $1.77 billion, a price-to-earnings ratio of -14.24 and a beta of 1.61. The business’s fifty day simple moving average is $3.61 and its two-hundred day simple moving average is $4.16.

Planet Labs PBC (NYSE:PL) last released its earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. The company had revenue of $66.27 million for the quarter, compared to the consensus estimate of $62.25 million. As a group, research analysts forecast that Planet Labs PBC will post -0.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PL shares. Wedbush raised 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. Cantor Fitzgerald restated an “overweight” rating and issued a $6.30 price target on shares of Planet Labs PBC in a research report on Friday, March 21st. Wall Street Zen upgraded Planet Labs PBC from a “sell” rating to a “hold” rating in a research report on Friday. Citigroup raised their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company a “buy” rating in a report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $8.00 target price on shares of Planet Labs PBC in a report on Thursday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.38.

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.