WS Management Lllp Takes $1.01 Million Position in Planet Labs PBC (NYSE:PL)

WS Management Lllp bought a new position in shares of Planet Labs PBC (NYSE:PL) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 250,000 shares of the company’s stock, valued at approximately $1,010,000. Planet Labs PBC accounts for about 0.1% of WS Management Lllp’s portfolio, making the stock its 27th largest holding.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Planet Labs PBC by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 15,952,394 shares of the company’s stock worth $64,448,000 after purchasing an additional 397,153 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Planet Labs PBC by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 4,939,737 shares of the company’s stock worth $19,961,000 after purchasing an additional 69,245 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in Planet Labs PBC by 14.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,078,958 shares of the company’s stock worth $8,399,000 after purchasing an additional 261,958 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 worth $8,140,000 after acquiring an additional 1,013,234 shares in the last quarter. Finally, Northern Trust Corp raised its position in Planet Labs PBC by 8.0% during the fourth quarter. Northern Trust Corp now owns 1,966,504 shares of the company’s stock worth $7,945,000 after acquiring an additional 145,123 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PL shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $3.50 price target (down from $6.00) on shares of Planet Labs PBC in a research report on Friday, April 11th. JMP Securities upped their price target on shares of 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. Craig Hallum raised shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Thursday, January 30th. Benchmark upped their price target on shares of Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.30 price target on shares of Planet Labs PBC in a research report on Friday, March 21st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.98.

Planet Labs PBC Price Performance

Shares of PL opened at $3.82 on Tuesday. The firm has a market capitalization of $1.15 billion, a PE ratio of -9.32 and a beta of 1.56. The company’s 50-day moving average is $3.54 and its 200-day moving average is $4.04. Planet Labs PBC has a fifty-two week low of $1.73 and a fifty-two week high of $6.71.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The company had revenue of $61.55 million during the quarter, compared to the consensus estimate of $61.89 million. Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. During the same period in the previous year, the company earned ($0.06) earnings per share. Analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current fiscal 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.