Swiss National Bank Purchases 10,700 Shares of Planet Labs PBC (NYSE:PL)

Swiss National Bank raised its position in Planet Labs PBC (NYSE:PL) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 401,700 shares of the company’s stock after purchasing an additional 10,700 shares during the period. Swiss National Bank’s holdings in Planet Labs PBC were worth $1,623,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PL. Geode Capital Management LLC grew its holdings in shares of Planet Labs PBC by 16.5% in the third quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock worth $10,864,000 after purchasing an additional 689,888 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Planet Labs PBC by 119.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 895,109 shares of the company’s stock valued at $1,996,000 after buying an additional 487,958 shares during the period. Raymond James Financial Inc. bought a new position in Planet Labs PBC in the 4th quarter worth about $1,648,000. ArrowMark Colorado Holdings LLC increased its position 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 acquiring an additional 400,000 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Planet Labs PBC by 244.3% during the fourth quarter. Van ECK Associates Corp now owns 520,364 shares of the company’s stock valued at $2,102,000 after acquiring an additional 369,206 shares in the last quarter. Institutional investors own 41.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. JMP Securities raised their price target on Planet Labs PBC from $4.50 to $6.50 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Planet Labs PBC in a research note on Monday, March 24th. Citigroup raised their target price on shares of Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Northland Securities upped their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $6.27.

Planet Labs PBC Stock Down 7.2 %

NYSE PL opened at $3.45 on Friday. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $6.71. The company has a 50 day moving average price of $4.89 and a 200 day moving average price of $3.70. The firm has a market cap of $1.02 billion, a PE ratio of -8.42 and a beta of 1.45.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. The business had revenue of $61.55 million for the quarter, compared to analysts’ expectations of $61.89 million. During the same quarter in the prior year, the company posted ($0.06) EPS. On average, equities research analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Planet Labs PBC 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.