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

Planet Labs PBC (NYSE:PL) was the recipient of unusually large options trading on Friday. Traders bought 17,584 call options on the stock. This represents an increase of 236% compared to the average daily volume of 5,236 call options.

Analyst Ratings Changes

PL has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Planet Labs PBC in a research note on Friday, January 17th. Cantor Fitzgerald assumed coverage on shares of Planet Labs PBC in a research note on Friday. They set an “overweight” rating and a $6.30 target price on the stock. Citigroup upped their price target on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. JMP Securities restated a “market outperform” rating and set a $4.50 price objective (up from $4.00) on shares of Planet Labs PBC in a research report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.54.

Planet Labs PBC Stock Up 12.6 %

PL stock traded up $0.60 during mid-day trading on Friday, hitting $5.34. The company had a trading volume of 7,400,523 shares, compared to its average volume of 4,090,122. The company has a 50-day moving average price of $3.95 and a 200 day moving average price of $2.87. Planet Labs PBC has a 12-month low of $1.67 and a 12-month high of $5.41. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -13.01 and a beta of 1.32.

Institutional Investors Weigh In On Planet Labs PBC

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

Planet Labs PBC Company 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.