Intellectus Partners LLC Sells 20,776 Shares of Planet Labs PBC (NYSE:PL)

Intellectus Partners LLC trimmed its stake in shares of Planet Labs PBC (NYSE:PL) by 18.2% in the fourth quarter, according to the company in its most recent filing with the SEC. 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 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PL. Exchange Traded Concepts LLC lifted its position in shares of Planet Labs PBC by 24.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,159,281 shares of the company’s stock worth $2,863,000 after buying an additional 230,627 shares during the last quarter. LA Financiere DE L Echiquier lifted its holdings in shares of Planet Labs PBC by 8.5% in the fourth quarter. LA Financiere DE L Echiquier now owns 1,092,000 shares of the company’s stock worth $2,697,000 after acquiring an additional 86,000 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Planet Labs PBC by 443.2% in the 3rd quarter. GSA Capital Partners LLP now owns 959,144 shares of the company’s stock valued at $2,494,000 after purchasing an additional 782,568 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Planet Labs PBC by 1.5% during the 3rd quarter. Deutsche Bank AG now owns 802,528 shares of the company’s stock valued at $2,087,000 after purchasing an additional 12,163 shares during the last quarter. Finally, Penserra Capital Management LLC grew its holdings in shares of Planet Labs PBC by 17.9% during the 3rd quarter. Penserra Capital Management LLC now owns 560,849 shares of the company’s stock valued at $1,458,000 after purchasing an additional 85,164 shares during the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Planet Labs PBC Price Performance

NYSE:PL opened at $1.74 on Tuesday. Planet Labs PBC has a one year low of $1.68 and a one year high of $5.00. The firm 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 results on Thursday, March 28th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $58.85 million during the quarter, compared to analyst estimates of $57.64 million. Planet Labs PBC had a negative net margin of 63.67% and a negative return on equity of 26.14%. As a group, sell-side analysts expect that Planet Labs PBC will post -0.41 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on PL. Citigroup reduced their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Planet Labs PBC in a research note on Monday, April 1st. The Goldman Sachs Group cut their price target 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. Benchmark cut their target price on Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Finally, JMP Securities decreased their price target on Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating for the company in a research note on Monday, April 1st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $4.68.

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.