Quinn Opportunity Partners LLC Reduces Position in Planet Labs PBC (NYSE:PL)

Quinn Opportunity Partners LLC reduced its position in Planet Labs PBC (NYSE:PL) by 45.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,000 shares of the company’s stock after selling 156,062 shares during the quarter. Quinn Opportunity Partners LLC owned 0.06% of Planet Labs PBC worth $747,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Monterey Private Wealth Inc. bought a new stake in shares of Planet Labs PBC during the fourth quarter worth $40,000. Wedbush Securities Inc. bought a new stake in Planet Labs PBC during the 4th quarter valued at about $41,000. SBI Securities Co. Ltd. purchased a new stake in Planet Labs PBC in the 4th quarter valued at about $42,000. Sciencast Management LP bought a new position in Planet Labs PBC in the 4th quarter worth about $43,000. Finally, PFG Investments LLC purchased a new position in shares of Planet Labs PBC during the fourth quarter worth approximately $55,000. Institutional investors own 41.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Benchmark increased their price objective on Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Craig Hallum raised Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Thursday, January 30th. Northland Securities raised their price target on Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upped their price objective 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of Planet Labs PBC in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $5.98.

Planet Labs PBC Stock Down 5.8 %

Shares of Planet Labs PBC stock opened at $3.17 on Friday. The company has a market cap of $956.62 million, a P/E ratio of -7.72 and a beta of 1.56. The firm’s 50 day moving average price is $4.41 and its 200-day moving average price is $3.81. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $6.71.

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). The business had revenue of $61.55 million for the quarter, compared to analyst estimates of $61.89 million. Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. During the same period in the previous year, the company posted ($0.06) earnings per share. As a group, equities research analysts forecast that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Planet Labs PBC 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.