Morling Financial Advisors LLC Invests $143,000 in Planet Labs PBC (NYSE:PL)

Morling Financial Advisors LLC bought a new position in Planet Labs PBC (NYSE:PL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 57,883 shares of the company’s stock, valued at approximately $143,000.

Several other institutional investors and hedge funds have also modified their holdings of PL. GSA Capital Partners LLP boosted its holdings in shares of Planet Labs PBC by 443.2% in the 3rd quarter. GSA Capital Partners LLP now owns 959,144 shares of the company’s stock worth $2,494,000 after acquiring an additional 782,568 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Planet Labs PBC by 24.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,159,281 shares of the company’s stock worth $2,863,000 after acquiring an additional 230,627 shares in the last quarter. Barclays PLC lifted its holdings in Planet Labs PBC by 263.5% during the 3rd quarter. Barclays PLC now owns 262,813 shares of the company’s stock worth $683,000 after buying an additional 190,510 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Planet Labs PBC by 744.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 118,321 shares of the company’s stock worth $308,000 after buying an additional 104,311 shares in the last quarter. Finally, LA Financiere DE L Echiquier lifted its holdings in Planet Labs PBC by 8.5% during the 4th quarter. LA Financiere DE L Echiquier now owns 1,092,000 shares of the company’s stock worth $2,697,000 after buying an additional 86,000 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Planet Labs PBC Price Performance

Shares of Planet Labs PBC stock traded up $0.04 on Wednesday, hitting $1.82. 1,178,199 shares of the company’s stock traded hands, compared to its average volume of 1,322,362. The firm’s 50-day moving average price is $2.16 and its two-hundred day moving average price is $2.26. The stock has a market capitalization of $527.48 million, a PE ratio of -3.56 and a beta of 0.79. Planet Labs PBC has a one year low of $1.68 and a one year high of $5.00.

Planet Labs PBC (NYSE:PL) last issued its earnings results on Thursday, March 28th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $58.85 million during the quarter, compared to analysts’ expectations of $57.64 million. Planet Labs PBC had a negative net margin of 63.67% and a negative return on equity of 26.14%. On average, analysts forecast that Planet Labs PBC will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. The Goldman Sachs Group reduced their price objective on Planet Labs PBC from $4.80 to $4.20 and set a “buy” rating on the stock in a report on Friday, April 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price objective on shares of Planet Labs PBC in a report on Monday, April 1st. Citigroup reduced their price objective on Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating on the stock in a report on Thursday, April 4th. Benchmark reduced their price objective on Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Finally, JMP Securities reduced their price objective on Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating on the stock in a report on Monday, April 1st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Planet Labs PBC presently has a consensus rating of “Moderate Buy” and an average target price of $4.68.

Planet Labs PBC Profile

Planet Labs PBC designs, constructs, and launches constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company offers planet monitoring, basemap, tasking, apps, variables, hyperspectral, analytic feeds, and platform, as well as planet professional services including launch program, architectural workshop, planet training, integration and data services, and quick start services; and technical support services, which includes planet help center, developer resource center, and planet community and university.