Intellectus Partners LLC Trims Stock Holdings in Planet Labs PBC (NYSE:PL)

Intellectus Partners LLC lowered its stake in Planet Labs PBC (NYSE:PL) by 34.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,000 shares of the company’s stock after selling 14,000 shares during the quarter. Intellectus Partners LLC’s holdings in Planet Labs PBC were worth $91,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Planet Labs PBC by 101.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company’s stock valued at $8,140,000 after purchasing an additional 1,013,234 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Planet Labs PBC by 227.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,269,095 shares of the company’s stock worth $5,127,000 after purchasing an additional 880,966 shares in the last quarter. Baird Financial Group Inc. bought a new stake in shares of Planet Labs PBC during the 4th quarter valued at $2,568,000. Raymond James Financial Inc. bought a new stake in shares of Planet Labs PBC during the 4th quarter valued at $1,648,000. Finally, Vanguard Group Inc. lifted its stake in shares of Planet Labs PBC by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 15,952,394 shares of the company’s stock valued at $64,448,000 after buying an additional 397,153 shares in the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Planet Labs PBC Trading Down 2.0%

NYSE:PL opened at $5.84 on Friday. The business’s 50-day moving average is $3.61 and its 200 day moving average is $4.16. Planet Labs PBC has a 12 month low of $1.73 and a 12 month high of $6.71. The company has a market capitalization of $1.77 billion, a P/E ratio of -14.24 and a beta of 1.61.

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

Analyst Ratings Changes

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

Planet Labs PBC 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.