King Luther Capital Management Corp Buys 45,000 Shares of Planet Labs PBC (NYSE:PL)

King Luther Capital Management Corp boosted its stake in Planet Labs PBC (NYSE:PL) by 9.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 500,000 shares of the company’s stock after buying an additional 45,000 shares during the period. King Luther Capital Management Corp’s holdings in Planet Labs PBC were worth $2,020,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PL. ArrowMark Colorado Holdings LLC boosted its holdings in shares of Planet Labs PBC by 28.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,817,000 shares of the company’s stock worth $4,052,000 after purchasing an additional 400,000 shares during the period. JPMorgan Chase & Co. lifted its holdings in Planet Labs PBC by 90.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 388,129 shares of the company’s stock worth $866,000 after buying an additional 184,111 shares during the period. Aspiring Ventures LLC bought a new stake in shares of Planet Labs PBC in the 4th quarter worth approximately $849,000. Barclays PLC increased its stake in shares of Planet Labs PBC by 25.0% during the third quarter. Barclays PLC now owns 326,147 shares of the company’s stock valued at $728,000 after buying an additional 65,181 shares during the period. Finally, State Street Corp raised its holdings in shares of Planet Labs PBC by 5.7% during the third quarter. State Street Corp now owns 4,272,633 shares of the company’s stock valued at $9,528,000 after acquiring an additional 230,076 shares in the last quarter. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Up 4.3 %

Planet Labs PBC stock opened at $4.00 on Thursday. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $6.71. The company has a market capitalization of $1.19 billion, a P/E ratio of -9.74 and a beta of 1.45. The stock’s 50 day moving average is $4.87 and its 200 day moving average is $3.59.

Analyst Ratings Changes

Several analysts recently weighed in on PL shares. Needham & Company LLC lifted their price target on shares of Planet Labs PBC from $5.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Cantor Fitzgerald started coverage on shares of Planet Labs PBC in a research report on Friday, January 24th. They set an “overweight” rating and a $6.30 price target on the stock. The Goldman Sachs Group raised their price objective on shares of Planet Labs PBC from $5.00 to $6.40 and gave the stock a “buy” rating in a report on Monday, February 3rd. JMP Securities lifted their price objective on Planet Labs PBC from $4.50 to $6.50 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. Finally, Citigroup increased their target price on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $6.27.

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.