Planet Labs PBC (NYSE:PL) Holdings Reduced by Arena Capital Advisors LLC CA

Arena Capital Advisors LLC CA decreased its holdings in Planet Labs PBC (NYSE:PL) by 20.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,431 shares of the company’s stock after selling 40,084 shares during the period. Planet Labs PBC comprises about 0.7% of Arena Capital Advisors LLC CA’s investment portfolio, making the stock its 4th biggest holding. Arena Capital Advisors LLC CA owned 0.05% of Planet Labs PBC worth $624,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Monterey Private Wealth Inc. bought a new position in Planet Labs PBC during the fourth quarter valued at approximately $40,000. SBI Securities Co. Ltd. bought a new position in shares of Planet Labs PBC during the 4th quarter valued at $42,000. PFG Investments LLC bought a new position in shares of Planet Labs PBC during the 4th quarter valued at $55,000. Crown Wealth Group LLC purchased a new position in shares of Planet Labs PBC in the 4th quarter worth $78,000. Finally, Intech Investment Management LLC bought a new stake in shares of Planet Labs PBC in the third quarter worth $135,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Performance

Shares of PL stock opened at $4.16 on Friday. The stock has a fifty day simple moving average of $4.87 and a two-hundred day simple moving average of $3.61. The firm has a market capitalization of $1.23 billion, a PE ratio of -10.13 and a beta of 1.45. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $6.71.

Analysts Set New Price Targets

A number of research firms have issued reports on PL. Needham & Company LLC boosted their price target on Planet Labs PBC from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Citigroup upped their target price on shares of Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a report on Monday, December 16th. Cantor Fitzgerald assumed coverage on shares of Planet Labs PBC in a research report on Friday, January 24th. They issued an “overweight” rating and a $6.30 price target on the stock. Northland Securities boosted their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group upped their price objective on Planet Labs PBC from $5.00 to $6.40 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $6.27.

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.