Meixler Investment Management Ltd. Decreases Stock Holdings in Planet Labs PBC (NYSE:PL)

Meixler Investment Management Ltd. cut its position in Planet Labs PBC (NYSE:PL) by 42.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,258 shares of the company’s stock after selling 32,481 shares during the quarter. Meixler Investment Management Ltd.’s holdings in Planet Labs PBC were worth $99,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Perkins Coie Trust Co acquired a new stake in Planet Labs PBC during the 2nd quarter valued at approximately $28,000. Valeo Financial Advisors LLC acquired a new position in Planet Labs PBC during the third quarter valued at $45,000. Algert Global LLC purchased a new stake in Planet Labs PBC in the second quarter valued at $38,000. Virtu Financial LLC acquired a new stake in Planet Labs PBC during the 1st quarter worth about $52,000. Finally, Vontobel Holding Ltd. raised its stake in shares of Planet Labs PBC by 81.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock valued at $50,000 after buying an additional 10,000 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Planet Labs PBC Trading Down 0.8 %

Shares of PL stock opened at $2.51 on Monday. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $2.89. The stock has a market cap of $736.62 million, a price-to-earnings ratio of -5.34 and a beta of 0.97. The company’s 50-day moving average price is $2.24 and its 200-day moving average price is $2.13.

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