SG Americas Securities LLC Purchases New Holdings in Planet Labs PBC (NYSE:PL)

SG Americas Securities LLC purchased a new stake in shares of Planet Labs PBC (NYSE:PL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,305 shares of the company’s stock, valued at approximately $132,000.

A number of other hedge funds also recently made changes to their positions in PL. GTS Securities LLC acquired a new stake in shares of Planet Labs PBC in the second quarter valued at approximately $43,000. Ritholtz Wealth Management acquired a new stake in shares of Planet Labs PBC in the third quarter valued at approximately $44,000. Jeppson Wealth Management LLC acquired a new stake in shares of Planet Labs PBC in the fourth quarter valued at approximately $44,000. Quantbot Technologies LP acquired a new stake in shares of Planet Labs PBC in the first quarter valued at approximately $45,000. Finally, Raymond James & Associates acquired a new stake in Planet Labs PBC during the 3rd quarter worth approximately $49,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Planet Labs PBC Price Performance

Planet Labs PBC stock opened at $1.75 on Thursday. The stock’s fifty day moving average price is $2.21 and its two-hundred day moving average price is $2.29. Planet Labs PBC has a one year low of $1.71 and a one year high of $5.00. The firm has a market cap of $508.59 million, a PE ratio of -3.43 and a beta of 0.79.

Analysts Set New Price Targets

Several analysts recently weighed in on PL shares. Needham & Company LLC reissued a “buy” rating and set a $7.00 price target on shares of Planet Labs PBC in a report on Monday, April 1st. Citigroup dropped their price target on Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating for the company in a report on Thursday, April 4th. The Goldman Sachs Group dropped their price target on Planet Labs PBC from $4.80 to $4.20 and set a “buy” rating for the company in a report on Friday, April 12th. JMP Securities dropped their price target on 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. Finally, Benchmark dropped their price target on Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.68.

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.