Meixler Investment Management Ltd. Sells 26,575 Shares of Planet Labs PBC (NYSE:PL)

Meixler Investment Management Ltd. reduced its position in shares of Planet Labs PBC (NYSE:PL) by 60.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,683 shares of the company’s stock after selling 26,575 shares during the quarter. Meixler Investment Management Ltd.’s holdings in Planet Labs PBC were worth $71,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PL. The Manufacturers Life Insurance Company increased its stake in Planet Labs PBC by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company’s stock valued at $134,000 after purchasing an additional 5,395 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Planet Labs PBC by 65.9% during the 3rd quarter. SG Americas Securities LLC now owns 73,723 shares of the company’s stock valued at $164,000 after acquiring an additional 29,281 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings 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 acquiring an additional 10,000 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Planet Labs PBC during the 3rd quarter valued at about $61,000. Finally, Conestoga Capital Advisors LLC boosted its holdings in shares of Planet Labs PBC by 24.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 495,450 shares of the company’s stock valued at $1,105,000 after acquiring an additional 97,350 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PL has been the topic of a number of recent analyst reports. Citigroup raised their price target 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Craig Hallum raised shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Thursday, January 30th. Northland Securities raised their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, JMP Securities raised their price objective on shares of Planet Labs PBC from $4.50 to $6.50 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $6.27.

Planet Labs PBC Price Performance

Planet Labs PBC stock opened at $6.07 on Friday. The stock has a market cap of $1.80 billion, a P/E ratio of -14.79 and a beta of 1.40. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $6.71. The firm’s 50 day moving average price is $4.68 and its 200-day moving average price is $3.30.

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.