Crown Wealth Group LLC Purchases New Position in Planet Labs PBC (NYSE:PL)

Crown Wealth Group LLC acquired a new position in shares of Planet Labs PBC (NYSE:PL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,300 shares of the company’s stock, valued at approximately $78,000.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Planet Labs PBC by 16.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock worth $10,864,000 after acquiring an additional 689,888 shares in the last quarter. State Street Corp boosted its stake in Planet Labs PBC by 5.7% in the third quarter. State Street Corp now owns 4,272,633 shares of the company’s stock worth $9,528,000 after purchasing an additional 230,076 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of Planet Labs PBC by 28.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,817,000 shares of the company’s stock worth $4,052,000 after purchasing an additional 400,000 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Planet Labs PBC by 4.1% in the third quarter. Franklin Resources Inc. now owns 1,808,487 shares of the company’s stock valued at $4,105,000 after buying an additional 71,719 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Planet Labs PBC by 13.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,732,546 shares of the company’s stock valued at $3,864,000 after buying an additional 201,084 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Stock Up 6.9 %

Shares of NYSE PL opened at $4.70 on Thursday. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $6.71. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -11.45 and a beta of 1.40. The company’s fifty day moving average is $4.87 and its 200-day moving average is $3.47.

Analyst Ratings Changes

A number of equities research analysts have commented on PL shares. Northland Securities increased their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Craig Hallum raised shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Thursday, January 30th. The Goldman Sachs Group boosted their price objective on shares of Planet Labs PBC from $5.00 to $6.40 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Benchmark increased their price objective on Planet Labs PBC from $4.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Finally, JMP Securities boosted their target price on Planet Labs PBC from $4.50 to $6.50 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Planet Labs PBC presently has an average rating of “Buy” and an average target price of $6.27.

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.