AtonRa Partners Has $232,000 Position in Planet Labs PBC (NYSE:PL)

AtonRa Partners trimmed its holdings in shares of Planet Labs PBC (NYSE:PL) by 14.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 93,863 shares of the company’s stock after selling 16,192 shares during the quarter. AtonRa Partners’ holdings in Planet Labs PBC were worth $232,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in PL. GSA Capital Partners LLP grew its position in Planet Labs PBC by 443.2% in the third quarter. GSA Capital Partners LLP now owns 959,144 shares of the company’s stock valued at $2,494,000 after acquiring an additional 782,568 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of Planet Labs PBC by 24.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,159,281 shares of the company’s stock worth $2,863,000 after purchasing an additional 230,627 shares during the last quarter. Barclays PLC increased its position in shares of Planet Labs PBC by 263.5% during the 3rd quarter. Barclays PLC now owns 262,813 shares of the company’s stock worth $683,000 after purchasing an additional 190,510 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Planet Labs PBC by 744.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 118,321 shares of the company’s stock valued at $308,000 after purchasing an additional 104,311 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Planet Labs PBC by 522.8% during the fourth quarter. Russell Investments Group Ltd. now owns 105,593 shares of the company’s stock worth $261,000 after buying an additional 88,638 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Trading Down 1.6 %

Shares of Planet Labs PBC stock traded down $0.03 on Tuesday, reaching $1.71. 319,697 shares of the company were exchanged, compared to its average volume of 1,291,115. The company has a market capitalization of $497.34 million, a price-to-earnings ratio of -3.41 and a beta of 0.78. Planet Labs PBC has a one year low of $1.68 and a one year high of $5.00. The company has a 50-day moving average of $2.13 and a 200 day moving average of $2.24.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings data on Thursday, March 28th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Planet Labs PBC had a negative net margin of 63.67% and a negative return on equity of 26.14%. The company had revenue of $58.85 million during the quarter, compared to the consensus estimate of $57.64 million. Analysts predict that Planet Labs PBC will post -0.41 earnings per share for the current year.

Analysts Set New Price Targets

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

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.