Putnam Investment Management LLC has recently announced that it has increased stake in Planet Labs PBC (NYSE:PL) by 3.15%. After grabbing 1.54 million shares, the institutional investor is now in possession of 46951.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 0.58% having worth around $3.74 million. Moreover, Dimensional Fund Advisors LP increased its share by 0.57 million to have a control over 1.08 million shares.
Planet Labs PBC (PL) concluded trading on 12/28/23 at a closing price of $2.56, with 2.25 million shares of worth about $5.77 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -16.88% during that period and on Thursday the price saw a gain of about 7.11%. Currently the company’s common shares owned by public are about 250.63M shares, out of which, 167.32M shares are available for trading.
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Canada Pension Plan, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Planet Labs PBC Canada Pension Plan is currently holding 7.8 million shares of worth totaling $18.95 million. The company recently came buying 0.0 shares which brought its stake up to 2.95% of the company’s outstanding shares. Vanguard Small Cap Index Fund, after buying 4.93 million shares, have now control over 1.86% of the stake in the company. It holds 15176.0 shares of worth $11.97 million.
Planet Labs PBC (NYSE: PL) started trading at $2.38, below -$0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 2.5700, or with a gain of 7.11%. Stock saw a price change of 8.94% in past 5 days and over the past one month there was a price change of 4.07%. Year-to-date (YTD), PL shares are showing a performance of -41.15% which decreased to -38.90% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.04 but also hit the highest price of $5.18 during that period. The average intraday trading volume for Planet Labs PBC shares is 1.52 million. The stock is currently trading 4.40% above its 20-day simple moving average (SMA20), while that difference is up 9.66% for SMA50 and it goes to -20.12% lower than SMA200.
Putnam Investment Management LLC acquired 1.54 million shares of Planet Labs PBC having value of about $3.74 million. Data submitted at the U.S SEC by Putnam Investment Management LLC revealed that the firm now holds 46951.0 shares in the company valued at close to $120194.56, or have control over 3.15% stake in the company. Planet Labs PBC (NYSE: PL) currently have 250.63M outstanding shares and institutions hold larger chunk of about 26.52% of that. Holding of mutual funds in the company is about 12.59% while other institutional holders and individual stake holders have control over 18.63% and 10.11% of the stake respectively.
The stock has a current market capitalization of $731.29M and its 3Y-monthly beta is at 0.75. It has posted earnings per share of -$0.54 in the same period. It has Quick Ratio of 2.94 while making debt-to-equity ratio of 0.05. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PL, volatility over the week remained 5.71% while standing at 5.48% over the month.
Analysts are in expectations that Planet Labs PBC (PL) stock would likely to be making an EPS of -$0.06 in the current quarter, while forecast for next quarter EPS is -$0.06 and it is -$0.2 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.08 which is -$0.05 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.14 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 16.78% while it is estimated to increase by 20.62% in next year. EPS is likely to shrink at an annualized rate of 25.00% for next 5-years, compared to annual growth of 32.20% made by the stock over the past 5-years.
Analysts at 11 brokerage firms have issued recommendations for the Planet Labs PBC (PL)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.36. Out of those 11 Wall Street analysts, 9 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
