Mitsubishi UFJ Asset Management Co. Ltd. Has $3.94 Million Holdings in Planet Labs PBC (NYSE:PL)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Planet Labs PBC (NYSE:PL) by 67.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 933,888 shares of the company’s stock after buying an additional 375,256 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.31% of Planet Labs PBC worth $3,941,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PL. Monterey Private Wealth Inc. bought a new position in Planet Labs PBC in the fourth quarter valued at approximately $40,000. SBI Securities Co. Ltd. acquired a new stake in Planet Labs PBC in the fourth quarter valued at approximately $42,000. Sciencast Management LP bought a new stake in Planet Labs PBC during the 4th quarter worth $43,000. PFG Investments LLC bought a new stake in shares of Planet Labs PBC during the fourth quarter worth about $55,000. Finally, Xponance Inc. grew its holdings in Planet Labs PBC by 12.0% during the 4th quarter. Xponance Inc. now owns 14,959 shares of the company’s stock worth $60,000 after acquiring an additional 1,608 shares during the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Planet Labs PBC Price Performance

Shares of PL stock opened at $3.41 on Wednesday. The firm has a 50-day moving average of $4.85 and a 200-day moving average of $3.75. Planet Labs PBC has a one year low of $1.67 and a one year high of $6.71. The company has a market cap of $1.01 billion, a P/E ratio of -8.30 and a beta of 1.45.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $61.55 million for the quarter, compared to the consensus estimate of $61.89 million. Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. During the same period in the prior year, the business earned ($0.06) EPS. As a group, research analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price target on shares of Planet Labs PBC in a research report on Monday, March 24th. Northland Securities increased their price target on Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.30 target price on shares of Planet Labs PBC in a research report on Friday, March 21st. Craig Hallum upgraded Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Thursday, January 30th. Finally, Benchmark increased their target price on Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $6.27.

Planet Labs PBC 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.