Navalign LLC Purchases New Position in Planet Labs PBC (NYSE:PL)

Navalign LLC purchased a new stake in shares of Planet Labs PBC (NYSE:PL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 11,168 shares of the company’s stock, valued at approximately $28,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PL. Raymond James & Associates increased its position in shares of Planet Labs PBC by 385.7% in the first quarter. Raymond James & Associates now owns 67,400 shares of the company’s stock valued at $342,000 after buying an additional 53,524 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Planet Labs PBC in the first quarter worth approximately $412,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Planet Labs PBC in the first quarter worth approximately $147,000. BlackRock Inc. acquired a new stake in shares of Planet Labs PBC in the first quarter worth approximately $23,671,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Planet Labs PBC in the first quarter worth approximately $2,828,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Planet Labs PBC Stock Performance

Shares of Planet Labs PBC stock remained flat at $2.55 during trading hours on Friday. The stock had a trading volume of 2,518,136 shares, compared to its average volume of 1,297,811. Planet Labs PBC has a twelve month low of $1.99 and a twelve month high of $5.00. The company’s fifty day simple moving average is $2.27 and its two-hundred day simple moving average is $2.35. The company has a market cap of $733.46 million, a PE ratio of -4.72 and a beta of 0.74.

Analysts Set New Price Targets

Separately, Craig Hallum lowered Planet Labs PBC from a “buy” rating to a “hold” rating and set a $3.00 price target on the stock. in a research note on Friday, December 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.74.

About Planet Labs PBC

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.