Laird Norton Wetherby Trust Company LLC Grows Holdings in Planet Labs PBC (NYSE:PL)

Laird Norton Wetherby Trust Company LLC boosted its holdings in Planet Labs PBC (NYSE:PL) by 33.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,148 shares of the company’s stock after purchasing an additional 10,037 shares during the quarter. Laird Norton Wetherby Trust Company LLC’s holdings in Planet Labs PBC were worth $162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of Planet Labs PBC by 101.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company’s stock worth $8,140,000 after purchasing an additional 1,013,234 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Planet Labs PBC by 227.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,269,095 shares of the company’s stock worth $5,127,000 after purchasing an additional 880,966 shares during the last quarter. Baird Financial Group Inc. purchased a new stake in shares of Planet Labs PBC during the fourth quarter worth approximately $2,568,000. Raymond James Financial Inc. purchased a new position in Planet Labs PBC during the 4th quarter worth $1,648,000. Finally, Vanguard Group Inc. lifted its stake in shares of Planet Labs PBC by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 15,952,394 shares of the company’s stock worth $64,448,000 after acquiring an additional 397,153 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Price Performance

NYSE PL opened at $3.56 on Monday. Planet Labs PBC has a 1-year low of $1.73 and a 1-year high of $6.71. The company has a market capitalization of $1.08 billion, a P/E ratio of -8.68 and a beta of 1.56. The business has a 50 day moving average price of $3.56 and a 200 day moving average price of $3.97.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. The firm had revenue of $61.55 million during the quarter, compared to analysts’ expectations of $61.89 million. During the same period in the previous year, the business earned ($0.06) earnings per share. On average, research analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PL has been the subject of several recent analyst reports. Northland Securities raised their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Craig Hallum raised shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Thursday, January 30th. The Goldman Sachs Group reissued a “neutral” rating and set a $3.50 target price (down from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $6.30 target price on shares of Planet Labs PBC in a research note on Friday, March 21st. Finally, Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of Planet Labs PBC in a research note on Monday, March 24th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Planet Labs PBC currently has an average rating of “Moderate Buy” and a consensus price target of $5.98.

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.