Planet Labs PBC (NYSE:PL) Trading 4.1% Higher – Here’s What Happened

Planet Labs PBC (NYSE:PL) traded up 4.1% during trading on Friday . The company traded as high as $4.07 and last traded at $4.05. 345,776 shares were traded during trading, a decline of 84% from the average session volume of 2,118,918 shares. The stock had previously closed at $3.89.

Analyst Ratings Changes

PL has been the topic of several research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $4.50 price objective (up previously from $4.00) on shares of Planet Labs PBC in a research note on Monday, December 9th. The Goldman Sachs Group lowered their price objective on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Craig Hallum lifted their price target on shares of Planet Labs PBC from $2.50 to $3.50 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of Planet Labs PBC in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.14.

Planet Labs PBC Stock Up 3.1 %

The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -9.78 and a beta of 1.34. The firm has a 50-day moving average of $2.96 and a two-hundred day moving average of $2.43.

Institutional Investors Weigh In On Planet Labs PBC

A number of institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its stake in Planet Labs PBC by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company’s stock valued at $134,000 after purchasing an additional 5,395 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Planet Labs PBC by 14.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,678 shares of the company’s stock worth $130,000 after buying an additional 6,215 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Planet Labs PBC by 11.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock worth $121,000 after purchasing an additional 6,910 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Planet Labs PBC by 81.5% during the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock valued at $50,000 after acquiring an additional 10,000 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Planet Labs PBC by 13.0% in the second quarter. Van ECK Associates Corp now owns 103,768 shares of the company’s stock worth $193,000 after purchasing an additional 11,951 shares during the period. Institutional investors and hedge funds own 41.71% of the company’s stock.

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.