Sciencast Management LP Invests $43,000 in Planet Labs PBC (NYSE:PL)

Sciencast Management LP acquired a new stake in shares of Planet Labs PBC (NYSE:PL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,568 shares of the company’s stock, valued at approximately $43,000.

Several other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of Planet Labs PBC by 16.5% during the third quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock valued at $10,864,000 after buying an additional 689,888 shares during the last quarter. State Street Corp boosted its position 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 valued at $9,528,000 after buying an additional 230,076 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted 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 valued at $4,052,000 after buying an additional 400,000 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Planet Labs PBC by 4.1% during the third quarter. Franklin Resources Inc. now owns 1,808,487 shares of the company’s stock valued at $4,105,000 after buying an additional 71,719 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Planet Labs PBC by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,770,146 shares of the company’s stock valued at $7,151,000 after buying an additional 37,600 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PL shares. The Goldman Sachs Group raised their target price on Planet Labs PBC from $5.00 to $6.40 and gave the stock a “buy” rating in a research report on Monday, February 3rd. JMP Securities raised their target price on Planet Labs PBC from $4.50 to $6.50 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.30 target price on shares of Planet Labs PBC in a research report on Friday. Northland Securities raised their target price on Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Benchmark raised their price objective on Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Planet Labs PBC currently has a consensus rating of “Buy” and an average price target of $6.27.

Planet Labs PBC Stock Performance

Shares of Planet Labs PBC stock opened at $3.78 on Monday. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -9.21 and a beta of 1.45. The stock has a 50 day moving average price of $4.88 and a 200-day moving average price of $3.67. Planet Labs PBC has a one year low of $1.67 and a one year high of $6.71.

Planet Labs PBC (NYSE:PL) last announced its earnings results on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The company had revenue of $61.55 million during the quarter, compared to analysts’ expectations 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 quarter last year, the firm posted ($0.06) EPS. Sell-side analysts predict 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.