Planet Labs PBC (NYSE:PL) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in shares of Planet Labs PBC (NYSE:PL) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,770,146 shares of the company’s stock after buying an additional 37,600 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Planet Labs PBC were worth $7,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC increased its position in Planet Labs PBC by 28.2% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,817,000 shares of the company’s stock valued at $4,052,000 after buying an additional 400,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in Planet Labs PBC by 90.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 388,129 shares of the company’s stock valued at $866,000 after buying an additional 184,111 shares in the last quarter. Aspiring Ventures LLC acquired a new position in Planet Labs PBC during the 4th quarter valued at about $849,000. Barclays PLC increased its position in Planet Labs PBC by 25.0% during the 3rd quarter. Barclays PLC now owns 326,147 shares of the company’s stock valued at $728,000 after buying an additional 65,181 shares in the last quarter. Finally, State Street Corp increased its position in Planet Labs PBC by 5.7% during the 3rd 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 in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PL has been the topic of several recent analyst reports. 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 research report on Tuesday, December 17th. JMP Securities increased their price objective 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. Benchmark increased their price objective on Planet Labs PBC from $4.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Needham & Company LLC increased their price objective on Planet Labs PBC from $5.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Citigroup increased their price objective on Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a report on Monday, December 16th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Planet Labs PBC currently has an average rating of “Buy” and a consensus target price of $6.27.

Planet Labs PBC Price Performance

NYSE PL opened at $3.78 on Monday. The company has a market cap of $1.12 billion, a PE ratio of -9.21 and a beta of 1.45. The stock’s 50 day simple moving average is $4.88 and its 200-day simple moving average is $3.67. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $6.71.

Planet Labs PBC (NYSE:PL) last released its earnings results 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 firm had revenue of $61.55 million during the quarter, compared to analysts’ expectations 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 quarter last year, the business earned ($0.06) EPS. On average, equities research analysts anticipate that Planet Labs PBC will post -0.37 EPS 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.