Lbp Am Sa Trims Stock Holdings in Planet Labs PBC (NYSE:PL)

Lbp Am Sa trimmed its holdings in Planet Labs PBC (NYSE:PL) by 13.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 863,464 shares of the company’s stock after selling 138,536 shares during the period. Lbp Am Sa owned approximately 0.29% of Planet Labs PBC worth $3,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of PL. Geode Capital Management LLC grew its stake in 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 buying an additional 689,888 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings 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 purchasing an additional 487,958 shares during the period. Raymond James Financial Inc. bought a new position in Planet Labs PBC in the 4th quarter valued at $1,648,000. ArrowMark Colorado Holdings LLC boosted its holdings 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 purchasing an additional 400,000 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Planet Labs PBC by 244.3% in the 4th quarter. Van ECK Associates Corp now owns 520,364 shares of the company’s stock valued at $2,102,000 after purchasing an additional 369,206 shares during the period. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Planet Labs PBC Stock Up 4.7 %

Planet Labs PBC stock opened at $4.16 on Friday. The company has a market capitalization of $1.23 billion, a PE ratio of -10.13 and a beta of 1.45. The firm has a fifty day simple moving average of $4.87 and a two-hundred day simple moving average of $3.61. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $6.71.

Wall Street Analyst Weigh In

Several brokerages have commented on PL. Cantor Fitzgerald began coverage on shares of Planet Labs PBC in a report on Friday, January 24th. They issued an “overweight” rating and a $6.30 price target for the company. The Goldman Sachs Group raised their price target on shares of Planet Labs PBC from $5.00 to $6.40 and gave the company a “buy” rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a report on Tuesday, December 17th. Benchmark lifted 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. Finally, Needham & Company LLC lifted their price objective on shares of Planet Labs PBC from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently 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.