Perigon Wealth Management LLC Lowers Stock Holdings in Planet Labs PBC (NYSE:PL)

Perigon Wealth Management LLC decreased its position in shares of Planet Labs PBC (NYSE:PL) by 14.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 97,000 shares of the company’s stock after selling 16,100 shares during the quarter. Perigon Wealth Management LLC’s holdings in Planet Labs PBC were worth $240,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Conestoga Capital Advisors LLC lifted its stake in shares of Planet Labs PBC by 4.1% during the 4th quarter. Conestoga Capital Advisors LLC now owns 346,500 shares of the company’s stock valued at $856,000 after buying an additional 13,690 shares in the last quarter. LA Financiere DE L Echiquier lifted its stake in shares of 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 valued at $2,697,000 after buying an additional 86,000 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in Planet Labs PBC in the 4th quarter valued at $28,000. 180 Wealth Advisors LLC increased its holdings in Planet Labs PBC by 4.1% in the 4th quarter. 180 Wealth Advisors LLC now owns 119,561 shares of the company’s stock valued at $285,000 after acquiring an additional 4,747 shares during the last quarter. Finally, Crown Wealth Group LLC bought a new stake in Planet Labs PBC in the 4th quarter valued at $49,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Analysts Set New Price Targets

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

Planet Labs PBC Stock Up 1.2 %

Planet Labs PBC stock opened at $1.75 on Thursday. The company’s 50-day moving average price is $2.21 and its 200-day moving average price is $2.29. Planet Labs PBC has a twelve month low of $1.71 and a twelve month high of $5.00. The company has a market cap of $508.59 million, a PE ratio of -3.43 and a beta of 0.79.

About Planet Labs PBC

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.