Monterey Private Wealth Inc. Acquires New Holdings in Planet Labs PBC (NYSE:PL)

Monterey Private Wealth Inc. bought a new position in shares of Planet Labs PBC (NYSE:PL) in the fourth quarter, Holdings Channel reports. The firm bought 10,000 shares of the company’s stock, valued at approximately $40,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in shares of Planet Labs PBC by 8.1% in the second 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 during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Planet Labs PBC by 11.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock valued at $121,000 after buying an additional 6,910 shares during the last quarter. Vontobel Holding Ltd. increased its position in Planet Labs PBC by 81.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after buying an additional 10,000 shares during the period. Valeo Financial Advisors LLC acquired a new position in shares of Planet Labs PBC during the third quarter worth approximately $45,000. Finally, Algert Global LLC acquired a new position in shares of Planet Labs PBC during the second quarter worth approximately $38,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Analyst Upgrades and Downgrades

PL has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price 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. Citigroup boosted their price objective on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of Planet Labs PBC in a research note on Friday. Craig Hallum boosted their price target on Planet Labs PBC from $2.50 to $3.50 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $4.50 price objective (up previously from $4.00) on shares of Planet Labs PBC in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4.33.

Planet Labs PBC Trading Up 0.1 %

Shares of PL opened at $3.82 on Tuesday. The stock has a market cap of $1.13 billion, a PE ratio of -9.30 and a beta of 1.32. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $4.99. The stock has a 50 day simple moving average of $3.85 and a 200-day simple moving average of $2.82.

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.