Intellectus Partners LLC Reduces Holdings in Planet Labs PBC (NYSE:PL)

Intellectus Partners LLC lowered its position in shares of Planet Labs PBC (NYSE:PL) by 51.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,000 shares of the company’s stock after selling 43,500 shares during the period. Intellectus Partners LLC’s holdings in Planet Labs PBC were worth $166,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PL. Geode Capital Management LLC raised its stake in shares of Planet Labs PBC by 16.5% during the third quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock valued at $10,864,000 after purchasing an additional 689,888 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Planet Labs PBC by 119.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 895,109 shares of the company’s stock valued at $1,996,000 after purchasing an additional 487,958 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Planet Labs PBC during the fourth quarter worth approximately $1,648,000. ArrowMark Colorado Holdings LLC grew its position 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 buying an additional 400,000 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Planet Labs PBC by 244.3% during the fourth quarter. Van ECK Associates Corp now owns 520,364 shares of the company’s stock worth $2,102,000 after buying an additional 369,206 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Planet Labs PBC from $5.00 to $6.40 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Northland Securities raised their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Benchmark raised their price target on shares of Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Finally, Citigroup raised their price target on shares of 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, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $6.27.

Planet Labs PBC Price Performance

Planet Labs PBC stock opened at $3.99 on Friday. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $6.71. The company has a market cap of $1.18 billion, a PE ratio of -9.72 and a beta of 1.45. The company has a fifty day moving average price of $4.89 and a two-hundred day moving average price of $3.56.

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.