Planet Labs PBC (NYSE:PL) Shares Gap Down to $1.76

Planet Labs PBC (NYSE:PL)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $1.76, but opened at $1.68. Planet Labs PBC shares last traded at $1.75, with a volume of 307,751 shares traded.

Analysts Set New Price Targets

PL has been the topic of a number of analyst reports. The Goldman Sachs Group cut their price target on Planet Labs PBC from $4.80 to $4.20 and set a “buy” rating on the stock in a research note on Friday, April 12th. Benchmark lowered their price objective on shares of Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. JMP Securities lowered their price objective on shares of Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating for the company in a research report on Monday, April 1st. Needham & Company LLC restated a “buy” rating and issued a $7.00 price objective on shares of Planet Labs PBC in a research report on Monday, April 1st. Finally, Citigroup lowered their price objective on shares of Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating for the company in a research report on Thursday, April 4th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.68.

Planet Labs PBC Trading Down 1.1 %

The business has a fifty day moving average of $2.20 and a 200 day moving average of $2.29.

Institutional Investors Weigh In On Planet Labs PBC

A number of institutional investors have recently made changes to their positions in the company. 180 Wealth Advisors LLC boosted its stake in shares of Planet Labs PBC by 9.5% in the first quarter. 180 Wealth Advisors LLC now owns 130,926 shares of the company’s stock valued at $334,000 after buying an additional 11,365 shares during the period. Vanguard Group Inc. raised its position in Planet Labs PBC by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 18,276,242 shares of the company’s stock valued at $45,142,000 after purchasing an additional 502,346 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Planet Labs PBC by 12.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 44,463 shares of the company’s stock valued at $110,000 after purchasing an additional 5,078 shares in the last quarter. Barclays PLC raised its position in Planet Labs PBC by 82.1% during the fourth quarter. Barclays PLC now owns 478,582 shares of the company’s stock valued at $1,182,000 after purchasing an additional 215,769 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in Planet Labs PBC by 161.2% during the fourth quarter. Voya Investment Management LLC now owns 2,020,521 shares of the company’s stock valued at $4,991,000 after purchasing an additional 1,246,940 shares in the last quarter. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Company Profile

Planet Labs PBC designs, constructs, and launches constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company offers planet monitoring, basemap, tasking, apps, variables, hyperspectral, analytic feeds, and platform, as well as planet professional services including launch program, architectural workshop, planet training, integration and data services, and quick start services; and technical support services, which includes planet help center, developer resource center, and planet community and university.