Planet Labs PBC Sees Unusually Large Options Volume (NYSE:PL)

Planet Labs PBC (NYSE:PL) was the target of unusually large options trading on Friday. Investors acquired 17,584 call options on the company. This represents an increase of 236% compared to the typical daily volume of 5,236 call options.

Institutional Investors Weigh In On Planet Labs PBC

Institutional investors and hedge funds have recently made changes to their positions in the company. ArrowMark Colorado Holdings LLC boosted its holdings in shares of Planet Labs PBC by 28.2% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,817,000 shares of the company’s stock valued at $4,052,000 after acquiring an additional 400,000 shares during the last quarter. Barclays PLC boosted its holdings in Planet Labs PBC by 25.0% in the third quarter. Barclays PLC now owns 326,147 shares of the company’s stock worth $728,000 after purchasing an additional 65,181 shares during the last quarter. State Street Corp grew its position in Planet Labs PBC by 5.7% in the 3rd quarter. State Street Corp now owns 4,272,633 shares of the company’s stock worth $9,528,000 after purchasing an additional 230,076 shares during the period. Geode Capital Management LLC raised its stake in Planet Labs PBC by 16.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock valued at $10,864,000 after buying an additional 689,888 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Planet Labs PBC by 119.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 895,109 shares of the company’s stock valued at $1,996,000 after buying an additional 487,958 shares during the period. Institutional investors own 41.71% of the company’s stock.

Analysts Set New Price Targets

PL has been the subject of several research analyst reports. Citigroup lifted their price target on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $4.50 target price (up previously from $4.00) on shares of Planet Labs PBC in a research note on Monday, December 9th. Cantor Fitzgerald began coverage on shares of Planet Labs PBC in a research note on Friday. They set an “overweight” rating and a $6.30 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of Planet Labs PBC in a report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft lifted 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. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.54.

Planet Labs PBC Stock Up 12.6 %

Shares of NYSE PL traded up $0.60 on Friday, reaching $5.34. 7,400,523 shares of the company’s stock traded hands, compared to its average volume of 4,090,122. The business’s 50 day simple moving average is $3.95 and its two-hundred day simple moving average is $2.87. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $5.41. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -13.01 and a beta of 1.32.

About Planet Labs PBC

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.