Conestoga Capital Advisors LLC Purchases 97,350 Shares of Planet Labs PBC (NYSE:PL)

Conestoga Capital Advisors LLC lifted its position in shares of Planet Labs PBC (NYSE:PL) by 24.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 495,450 shares of the company’s stock after purchasing an additional 97,350 shares during the period. Conestoga Capital Advisors LLC owned 0.17% of Planet Labs PBC worth $1,105,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Planet Labs PBC in the 1st quarter valued at about $164,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Planet Labs PBC by 2.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,269 shares of the company’s stock valued at $1,495,000 after buying an additional 13,075 shares during the period. Vanguard Group Inc. grew its position in Planet Labs PBC by 1.4% during the first quarter. Vanguard Group Inc. now owns 18,537,261 shares of the company’s stock worth $47,270,000 after buying an additional 261,019 shares in the last quarter. Quadrature Capital Ltd bought a new position in Planet Labs PBC during the 1st quarter worth $66,000. Finally, PEAK6 Investments LLC raised its holdings in Planet Labs PBC by 224.2% in the 1st quarter. PEAK6 Investments LLC now owns 300,120 shares of the company’s stock valued at $765,000 after acquiring an additional 207,558 shares in the last quarter. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Up 4.1 %

PL stock traded up $0.09 during trading on Friday, reaching $2.30. 646,194 shares of the stock were exchanged, compared to its average volume of 1,714,629. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $2.89. The firm’s 50 day moving average is $2.27 and its 200 day moving average is $2.10.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Thursday, September 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The business had revenue of $61.09 million during the quarter, compared to analyst estimates of $61.57 million. Planet Labs PBC had a negative return on equity of 26.87% and a negative net margin of 57.71%. On average, research analysts expect that Planet Labs PBC will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.