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

Planet Labs PBC (NYSE:PLGet Free Report) was the target of unusually large options trading activity on Thursday. Stock investors acquired 16,374 call options on the stock. This represents an increase of approximately 310% compared to the typical daily volume of 3,996 call options.

Institutional Trading of Planet Labs PBC

A number of large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its holdings in shares of Planet Labs PBC by 54.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock worth $6,274,000 after buying an additional 653,173 shares during the last quarter. Rhumbline Advisers grew its holdings in 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 purchasing an additional 6,692 shares during the last quarter. Strs Ohio bought a new position in Planet Labs PBC during the 1st quarter valued at about $323,000. Iron Gate Global Advisors LLC bought a new position in Planet Labs PBC during the 1st quarter valued at about $36,000. Finally, Integrity Alliance LLC. bought a new position in Planet Labs PBC during the 1st quarter valued at about $48,000. 41.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PL has been the topic of a number of analyst reports. Wedbush lifted their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, June 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.50 price target (up from $6.30) on shares of Planet Labs PBC in a report on Tuesday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $3.50 price target (down from $6.00) on shares of Planet Labs PBC in a report on Friday, April 11th. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price target on shares of Planet Labs PBC in a report on Thursday, June 5th. Finally, Citigroup lifted their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company a “buy” rating in a report on Friday, June 6th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Planet Labs PBC currently has a consensus rating of “Moderate Buy” and an average price target of $6.60.

Read Our Latest Analysis on PL

Planet Labs PBC Stock Down 0.2%

Planet Labs PBC stock opened at $6.05 on Friday. The company’s 50-day moving average price is $4.26 and its 200-day moving average price is $4.32. Planet Labs PBC has a twelve month low of $1.73 and a twelve month high of $6.71. The company has a market cap of $1.83 billion, a PE ratio of -16.79 and a beta of 1.61.

Planet Labs PBC (NYSE:PLGet Free Report) last posted its earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Planet Labs PBC had a negative net margin of 42.58% and a negative return on equity of 23.36%. The firm had revenue of $66.27 million for the quarter, compared to the consensus estimate of $62.25 million. As a group, sell-side analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Planet Labs PBC Company Profile

(Get Free Report)

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.

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