ArrowMark Colorado Holdings LLC Has $4.05 Million Stock Position in Planet Labs PBC (NYSE:PL)

ArrowMark Colorado Holdings LLC grew its holdings in Planet Labs PBC (NYSE:PL) by 28.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,817,000 shares of the company’s stock after purchasing an additional 400,000 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in Planet Labs PBC were worth $4,052,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Planet Labs PBC by 1.4% in the first quarter. Vanguard Group Inc. now owns 18,537,261 shares of the company’s stock valued at $47,270,000 after purchasing an additional 261,019 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Planet Labs PBC by 14.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,678 shares of the company’s stock valued at $130,000 after acquiring an additional 6,215 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Planet Labs PBC in the first quarter valued at about $52,000. SG Americas Securities LLC raised its holdings in Planet Labs PBC by 234.6% during the second quarter. SG Americas Securities LLC now owns 44,442 shares of the company’s stock worth $83,000 after acquiring an additional 31,160 shares in the last quarter. Finally, Perkins Coie Trust Co acquired a new position in Planet Labs PBC during the second quarter valued at approximately $28,000. Institutional investors own 41.71% of the company’s stock.

Wall Street Analyst Weigh In

PL has been the topic of a number of analyst reports. Craig Hallum upped their price objective on Planet Labs PBC from $2.00 to $2.50 and gave the stock a “hold” rating in a research note on Friday, September 6th. Wedbush reaffirmed an “outperform” rating and set a $5.00 price target on shares of Planet Labs PBC in a research report on Friday, August 16th. Needham & Company LLC decreased their price objective on shares of Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, September 6th. The Goldman Sachs Group lowered their price objective on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $4.00 target price on shares of Planet Labs PBC in a research note on Thursday, September 26th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3.93.

Planet Labs PBC Stock Performance

Shares of PL opened at $4.51 on Tuesday. The firm has a market cap of $1.32 billion, a P/E ratio of -9.57 and a beta of 0.97. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $4.59. The firm’s 50-day simple moving average is $2.58 and its 200 day simple moving average is $2.28.

Planet Labs PBC (NYSE:PL) last announced its earnings results on Thursday, September 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $61.09 million for the quarter, compared to the consensus estimate of $61.57 million. Planet Labs PBC had a negative return on equity of 26.87% and a negative net margin of 57.71%. As a group, equities analysts forecast that Planet Labs PBC will post -0.41 earnings per share for the current year.

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.