Sciencast Management LP Makes New $43,000 Investment in Planet Labs PBC (NYSE:PL)

Sciencast Management LP bought a new position in Planet Labs PBC (NYSE:PL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,568 shares of the company’s stock, valued at approximately $43,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Xponance Inc. boosted its stake in shares of Planet Labs PBC by 12.0% during the fourth quarter. Xponance Inc. now owns 14,959 shares of the company’s stock valued at $60,000 after purchasing an additional 1,608 shares during the period. Monterey Private Wealth Inc. purchased a new stake in shares of Planet Labs PBC during the fourth quarter valued at approximately $40,000. SBI Securities Co. Ltd. purchased a new stake in shares of Planet Labs PBC during the fourth quarter valued at approximately $42,000. Swiss National Bank boosted its stake in shares of Planet Labs PBC by 2.7% during the fourth quarter. Swiss National Bank now owns 401,700 shares of the company’s stock valued at $1,623,000 after purchasing an additional 10,700 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Planet Labs PBC by 17.3% during the third quarter. The Manufacturers Life Insurance Company now owns 84,254 shares of the company’s stock valued at $188,000 after purchasing an additional 12,404 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PL. Cantor Fitzgerald reissued an “overweight” rating and set a $6.30 price objective on shares of Planet Labs PBC in a research note on Friday. JMP Securities upped their target price on Planet Labs PBC from $4.50 to $6.50 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upped their target price on Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a report on Tuesday, December 17th. Northland Securities upped their target price on Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Craig Hallum upgraded Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Thursday, January 30th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Planet Labs PBC presently has an average rating of “Buy” and a consensus price target of $6.27.

Planet Labs PBC Trading Down 11.0 %

PL opened at $3.78 on Monday. The stock has a fifty day simple moving average of $4.88 and a two-hundred day simple moving average of $3.67. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -9.21 and a beta of 1.45. Planet Labs PBC has a 12-month low of $1.67 and a 12-month high of $6.71.

Planet Labs PBC (NYSE:PL) last released its earnings results on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). 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 $61.55 million during the quarter, compared to analysts’ expectations of $61.89 million. During the same period in the prior year, the company posted ($0.06) earnings per share. On average, analysts predict that Planet Labs PBC will post -0.37 EPS for the current year.

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.