Planet Labs PBC Target of Unusually High Options Trading (NYSE:PL)

Planet Labs PBC (NYSE:PL) was the target of some unusual options trading on Friday. Investors bought 17,584 call options on the stock. This is an increase of approximately 236% compared to the average daily volume of 5,236 call options.

Planet Labs PBC Stock Up 14.5 %

Planet Labs PBC stock opened at $5.43 on Friday. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $5.55. The company has a market cap of $1.61 billion, a P/E ratio of -13.23 and a beta of 1.32. The business has a 50-day simple moving average of $4.00 and a two-hundred day simple moving average of $2.89.

Analyst Upgrades and Downgrades

PL has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of Planet Labs PBC in a research report on Friday, January 17th. Cantor Fitzgerald initiated coverage on Planet Labs PBC in a research report on Friday. They issued an “overweight” rating and a $6.30 price target for the company. Craig Hallum lifted their price target on 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, JMP Securities reaffirmed a “market outperform” rating and issued a $4.50 price target (up previously from $4.00) on shares of Planet Labs PBC in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.54.

Institutional Investors Weigh In On Planet Labs PBC

Several hedge funds and other institutional investors have recently made changes to their positions in PL. Algert Global LLC purchased a new stake in Planet Labs PBC in the 2nd quarter worth approximately $38,000. Monterey Private Wealth Inc. purchased a new stake in Planet Labs PBC in the 4th quarter worth approximately $40,000. Valeo Financial Advisors LLC purchased a new stake in Planet Labs PBC in the 3rd quarter worth approximately $45,000. Vontobel Holding Ltd. increased its holdings in Planet Labs PBC by 81.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after acquiring an additional 10,000 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in Planet Labs PBC during the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.