Arete Wealth Advisors LLC Raises Stock Position in Planet Labs PBC (NYSE:PL)

Arete Wealth Advisors LLC increased its position in shares of Planet Labs PBC (NYSE:PL) by 27.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,854 shares of the company’s stock after acquiring an additional 26,960 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Planet Labs PBC were worth $513,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PL. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 397,153 shares during the last quarter. Geode Capital Management LLC increased its position in Planet Labs PBC by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 4,939,737 shares of the company’s stock valued at $19,961,000 after buying an additional 69,245 shares in the last quarter. State Street Corp raised 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 valued at $9,528,000 after buying an additional 230,076 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Planet Labs PBC by 4.3% in the fourth quarter. Franklin Resources Inc. now owns 1,886,835 shares of the company’s stock worth $7,623,000 after acquiring an additional 78,348 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Planet Labs PBC by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,770,146 shares of the company’s stock worth $7,151,000 after acquiring an additional 37,600 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PL. The Goldman Sachs Group increased their price objective on shares of Planet Labs PBC from $5.00 to $6.40 and gave the company a “buy” rating in a research report on Monday, February 3rd. Northland Securities raised their price target 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. JMP Securities boosted their price objective on shares of Planet Labs PBC from $4.50 to $6.50 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Needham & Company LLC restated a “buy” rating and issued a $8.00 target price on shares of Planet Labs PBC in a research note on Monday, March 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $6.27.

Planet Labs PBC Price Performance

Shares of NYSE:PL opened at $3.17 on Friday. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $6.71. The firm has a market capitalization of $956.62 million, a PE ratio of -7.72 and a beta of 1.56. The business’s 50 day moving average price is $4.76 and its 200-day moving average price is $3.76.

Planet Labs PBC (NYSE:PL) last announced its earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The business had revenue of $61.55 million for the quarter, compared to analyst estimates of $61.89 million. Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. During the same period last year, the firm earned ($0.06) EPS. As a group, analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current year.

About Planet Labs PBC

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.