Planet Labs PBC (NYSE:PL) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in shares of Planet Labs PBC (NYSE:PL) by 8.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,850 shares of the company’s stock after purchasing an additional 5,395 shares during the period. The Manufacturers Life Insurance Company’s holdings in Planet Labs PBC were worth $134,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PL. Perkins Coie Trust Co purchased a new stake in Planet Labs PBC in the second quarter valued at $28,000. Virtu Financial LLC purchased a new stake in Planet Labs PBC in the 1st quarter valued at about $52,000. Quadrature Capital Ltd acquired a new position in Planet Labs PBC in the first quarter valued at about $66,000. SG Americas Securities LLC lifted its position in Planet Labs PBC by 234.6% in the second quarter. SG Americas Securities LLC now owns 44,442 shares of the company’s stock valued at $83,000 after buying an additional 31,160 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Planet Labs PBC by 11.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock worth $121,000 after buying an additional 6,910 shares during the period. 41.71% of the stock is owned by hedge funds and other institutional investors.

Planet Labs PBC Trading Up 0.9 %

Shares of NYSE PL opened at $2.32 on Friday. The stock has a market cap of $674.59 million, a P/E ratio of -4.83 and a beta of 0.98. The business’s fifty day simple moving average is $2.29 and its 200-day simple moving average is $2.08. Planet Labs PBC has a 12-month low of $1.67 and a 12-month high of $2.89.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $61.09 million for the quarter, compared to analysts’ expectations 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, equities analysts forecast that Planet Labs PBC will post -0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PL shares. Craig Hallum upped their price objective on shares of Planet Labs PBC from $2.00 to $2.50 and gave the stock a “hold” rating in a report on Friday, September 6th. Needham & Company LLC decreased 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. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Planet Labs PBC in a research note on Friday, August 16th. JMP Securities reissued a “market outperform” rating and set a $4.00 target price on shares of Planet Labs PBC in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group dropped their target price on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating for the company in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Planet Labs PBC has an average rating of “Moderate Buy” and a consensus price target of $3.93.

About Planet Labs PBC

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.