Raymond James Financial Inc. Buys Shares of 408,037 Planet Labs PBC (NYSE:PL)

Raymond James Financial Inc. bought a new position in Planet Labs PBC (NYSE:PL) in the 4th quarter, Holdings Channel.com reports. The fund bought 408,037 shares of the company’s stock, valued at approximately $1,648,000.

Several other hedge funds also recently modified their holdings of PL. Monterey Private Wealth Inc. acquired a new stake in shares of Planet Labs PBC in the 4th quarter valued at $40,000. SBI Securities Co. Ltd. bought a new position in Planet Labs PBC during the fourth quarter valued at about $42,000. The Manufacturers Life Insurance Company lifted its position in shares of Planet Labs PBC by 17.3% in the third quarter. The Manufacturers Life Insurance Company now owns 84,254 shares of the company’s stock worth $188,000 after buying an additional 12,404 shares during the last quarter. PFG Investments LLC bought a new stake in shares of Planet Labs PBC during the 4th quarter worth about $55,000. Finally, Rhumbline Advisers boosted its stake in shares of Planet Labs PBC by 5.0% during the 4th quarter. Rhumbline Advisers now owns 287,258 shares of the company’s stock worth $1,161,000 after acquiring an additional 13,580 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Analyst Ratings Changes

PL has been the subject of several analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $6.30 target price on shares of Planet Labs PBC in a report on Friday, March 21st. JMP Securities lifted their price target on shares of Planet Labs PBC from $4.50 to $6.50 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. Benchmark upped their price objective on shares of Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. The Goldman Sachs Group raised their target price on shares of Planet Labs PBC from $5.00 to $6.40 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $6.27.

Planet Labs PBC Price Performance

Shares of Planet Labs PBC stock opened at $3.41 on Wednesday. The company has a market cap of $1.01 billion, a PE ratio of -8.30 and a beta of 1.45. The firm has a fifty day moving average price of $4.85 and a two-hundred day moving average price of $3.75. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week 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). Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. The company had revenue of $61.55 million during the quarter, compared to the consensus estimate of $61.89 million. During the same quarter in the previous year, the business posted ($0.06) EPS. Analysts expect 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.