Intellectus Partners LLC Trims Stake in Planet Labs PBC (NYSE:PL)

Intellectus Partners LLC lowered its position in Planet Labs PBC (NYSE:PL) by 18.2% in the 4th quarter, Holdings Channel reports. The firm owned 93,348 shares of the company’s stock after selling 20,776 shares during the quarter. Intellectus Partners LLC’s holdings in Planet Labs PBC were worth $231,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. 180 Wealth Advisors LLC boosted its position in Planet Labs PBC by 4.1% in the 4th quarter. 180 Wealth Advisors LLC now owns 119,561 shares of the company’s stock valued at $285,000 after buying an additional 4,747 shares during the period. Swiss National Bank raised its stake in shares of Planet Labs PBC by 1.4% during the 3rd quarter. Swiss National Bank now owns 420,300 shares of the company’s stock worth $1,093,000 after acquiring an additional 5,800 shares in the last quarter. Perigon Wealth Management LLC lifted its position in Planet Labs PBC by 7.2% during the third quarter. Perigon Wealth Management LLC now owns 113,100 shares of the company’s stock valued at $294,000 after acquiring an additional 7,600 shares during the last quarter. Xponance Inc. purchased a new position in Planet Labs PBC in the fourth quarter worth $25,000. Finally, Brandywine Global Investment Management LLC increased its position in shares of Planet Labs PBC by 2.0% during the third quarter. Brandywine Global Investment Management LLC now owns 543,400 shares of the company’s stock worth $1,413,000 after purchasing an additional 10,500 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Down 1.7 %

NYSE PL opened at $1.74 on Tuesday. Planet Labs PBC has a twelve month low of $1.68 and a twelve month high of $5.00. The stock has a 50-day moving average of $2.13 and a 200 day moving average of $2.24.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings data on Thursday, March 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. Planet Labs PBC had a negative return on equity of 26.14% and a negative net margin of 63.67%. The company had revenue of $58.85 million for the quarter, compared to analysts’ expectations of $57.64 million. Analysts predict that Planet Labs PBC will post -0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PL shares. The Goldman Sachs Group dropped their price objective on shares of Planet Labs PBC from $4.80 to $4.20 and set a “buy” rating on the stock in a report on Friday, April 12th. JMP Securities cut their price objective on Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating on the stock in a report on Monday, April 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 target price on shares of Planet Labs PBC in a report on Monday, April 1st. Citigroup dropped their target price on Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Finally, Benchmark reduced their price target on shares of Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.68.

About Planet Labs PBC

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.