Crown Wealth Group LLC Invests $78,000 in Planet Labs PBC (NYSE:PL)

Crown Wealth Group LLC acquired a new stake in Planet Labs PBC (NYSE:PL) during the 4th quarter, Holdings Channel reports. The fund acquired 19,300 shares of the company’s stock, valued at approximately $78,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Planet Labs PBC by 16.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock valued at $10,864,000 after purchasing an additional 689,888 shares during the period. State Street Corp grew its holdings in shares of Planet Labs PBC by 5.7% during the third quarter. State Street Corp now owns 4,272,633 shares of the company’s stock worth $9,528,000 after buying an additional 230,076 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its position in Planet Labs PBC by 28.2% in 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 during the last quarter. Franklin Resources Inc. lifted its stake in Planet Labs PBC by 4.1% in the 3rd quarter. Franklin Resources Inc. now owns 1,808,487 shares of the company’s stock valued at $4,105,000 after acquiring an additional 71,719 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Planet Labs PBC by 13.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,732,546 shares of the company’s stock valued at $3,864,000 after acquiring an additional 201,084 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Planet Labs PBC Stock Up 6.9 %

PL opened at $4.70 on Thursday. Planet Labs PBC has a 12-month low of $1.67 and a 12-month high of $6.71. The business has a 50 day moving average of $4.87 and a 200-day moving average of $3.47. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -11.45 and a beta of 1.40.

Analyst Ratings Changes

PL has been the subject of several research reports. Needham & Company LLC raised their price target on shares of Planet Labs PBC from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Craig Hallum upgraded shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Thursday, January 30th. JMP Securities lifted their target price on 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. Finally, The Goldman Sachs Group increased their price target on Planet Labs PBC from $5.00 to $6.40 and gave the company a “buy” rating in a research report on Monday, February 3rd. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $6.27.

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.