Squarepoint Ops LLC Buys 133,307 Shares of Planet Labs PBC (NYSE:PL)

Squarepoint Ops LLC increased its stake in Planet Labs PBC (NYSE:PL) by 343.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,092 shares of the company’s stock after purchasing an additional 133,307 shares during the period. Squarepoint Ops LLC owned 0.06% of Planet Labs PBC worth $320,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PL. 180 Wealth Advisors LLC raised its position in Planet Labs PBC by 9.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 130,926 shares of the company’s stock worth $334,000 after purchasing an additional 11,365 shares during the last quarter. Perigon Wealth Management LLC raised its position in Planet Labs PBC by 15.5% in the 1st quarter. Perigon Wealth Management LLC now owns 112,000 shares of the company’s stock worth $286,000 after purchasing an additional 15,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Planet Labs PBC during the 1st quarter valued at $164,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Planet Labs PBC by 2.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,269 shares of the company’s stock valued at $1,495,000 after purchasing an additional 13,075 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Planet Labs PBC by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 18,537,261 shares of the company’s stock valued at $47,270,000 after purchasing an additional 261,019 shares during the period. Institutional investors own 41.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Needham & Company LLC cut their price target on Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Craig Hallum increased their price target on Planet Labs PBC from $2.00 to $2.50 and gave the company a “hold” rating in a research note on Friday, September 6th. JMP Securities reissued a “market outperform” rating and issued a $4.00 price target on shares of Planet Labs PBC in a research note on Thursday, September 26th. Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of Planet Labs PBC in a research note on Friday, August 16th. Finally, The Goldman Sachs Group cut their price target on 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. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $3.93.

Planet Labs PBC Trading Up 7.6 %

PL stock opened at $2.26 on Friday. The stock has a 50-day moving average price of $2.27 and a two-hundred day moving average price of $2.09. The stock has a market cap of $663.26 million, a PE ratio of -4.81 and a beta of 0.98. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $2.89.

Planet Labs PBC (NYSE:PL) last released its earnings results on Thursday, September 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $61.09 million for the quarter, compared to the consensus estimate of $61.57 million. Planet Labs PBC had a negative return on equity of 26.87% and a negative net margin of 57.71%. On average, analysts forecast that Planet Labs PBC will post -0.4 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.