Planet Labs PBC (NYSE:PL) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. increased its position in shares of Planet Labs PBC (NYSE:PL) by 4.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,886,835 shares of the company’s stock after acquiring an additional 78,348 shares during the quarter. Franklin Resources Inc.’s holdings in Planet Labs PBC were worth $7,623,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Monterey Private Wealth Inc. acquired a new stake in Planet Labs PBC during the fourth quarter worth about $40,000. SBI Securities Co. Ltd. purchased a new position in Planet Labs PBC during the fourth quarter worth about $42,000. Sciencast Management LP purchased a new position in Planet Labs PBC during the fourth quarter worth about $43,000. PFG Investments LLC purchased a new position in Planet Labs PBC during the fourth quarter worth about $55,000. Finally, Xponance Inc. boosted its stake in Planet Labs PBC by 12.0% during the fourth quarter. Xponance Inc. now owns 14,959 shares of the company’s stock worth $60,000 after buying an additional 1,608 shares during the period. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Stock Performance

NYSE PL opened at $3.63 on Thursday. Planet Labs PBC has a one year low of $1.67 and a one year high of $6.71. The firm has a 50 day simple moving average of $4.53 and a 200-day simple moving average of $3.79. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -8.84 and a beta of 1.56.

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Benchmark increased their target price on shares of Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group increased their target price on shares of Planet Labs PBC from $5.00 to $6.40 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Citigroup increased their target price on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $6.30 price objective on shares of Planet Labs PBC in a research note on Friday, March 21st. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Planet Labs PBC has a consensus rating of “Buy” and an average target price of $6.27.

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.