IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 189,125 Shares of Planet Labs PBC (NYSE:PL)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its position in shares of Planet Labs PBC (NYSE:PL) by 55.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 150,667 shares of the company’s stock after selling 189,125 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.05% of Planet Labs PBC worth $609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PL. ArrowMark Colorado Holdings LLC lifted its holdings 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 buying an additional 400,000 shares during the last quarter. JPMorgan Chase & Co. grew its position in Planet Labs PBC by 90.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 388,129 shares of the company’s stock worth $866,000 after purchasing an additional 184,111 shares during the last quarter. Aspiring Ventures LLC acquired a new position in shares of Planet Labs PBC during the fourth quarter valued at about $849,000. Barclays PLC increased its stake in Planet Labs PBC by 25.0% during the third quarter. Barclays PLC now owns 326,147 shares of the company’s stock valued at $728,000 after acquiring an additional 65,181 shares during the period. Finally, State Street Corp raised its holdings in Planet Labs PBC by 5.7% in the 3rd quarter. State Street Corp now owns 4,272,633 shares of the company’s stock valued at $9,528,000 after acquiring an additional 230,076 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Trading Down 7.2 %

Shares of NYSE PL opened at $3.45 on Friday. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $6.71. The company has a 50-day moving average of $4.89 and a two-hundred day moving average of $3.70. The company 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 announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates 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 firm 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) earnings per share. As a group, equities research analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Craig Hallum upgraded Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Thursday, January 30th. Citigroup upped 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 note on Monday, December 16th. The Goldman Sachs Group lifted their price objective on Planet Labs PBC from $5.00 to $6.40 and gave the company a “buy” rating in a report on Monday, February 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $6.30 target price on shares of Planet Labs PBC in a research report on Friday, March 21st. Finally, Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of Planet Labs PBC in a report on Monday, March 24th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price 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.