Planet Labs PBC (NYSE:PL) Stock Price Down 7% on Insider Selling

Planet Labs PBC (NYSE:PL)’s stock price fell 7% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $14.28 and last traded at $14.04. 3,979,061 shares changed hands during trading, a decline of 52% from the average session volume of 8,369,119 shares. The stock had previously closed at $15.09.

Specifically, insider Robert H. Schingler sold 81,656 shares of the firm’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $15.50, for a total transaction of $1,265,668.00. Following the transaction, the insider directly owned 1,288,843 shares of the company’s stock, valued at $19,977,066.50. This trade represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PL. Cantor Fitzgerald reissued an “overweight” rating and set a $8.50 price target (up from $6.30) on shares of Planet Labs PBC in a research report on Tuesday, June 24th. JMP Securities raised their price objective on shares of Planet Labs PBC from $8.00 to $11.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 9th. The Goldman Sachs Group started coverage on shares of Planet Labs PBC in a report on Monday, June 30th. They set a “neutral” rating and a $4.60 price objective for the company. Wedbush raised their price objective on shares of Planet Labs PBC from $11.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 2nd. Finally, Needham & Company LLC raised their price objective on shares of Planet Labs PBC from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Planet Labs PBC currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.56.

Planet Labs PBC Price Performance

The stock has a market cap of $4.07 billion, a PE ratio of -44.03 and a beta of 1.99. The firm’s 50 day moving average price is $10.08 and its two-hundred day moving average price is $6.61.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Monday, September 8th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The business had revenue of $73.39 million during the quarter, compared to analysts’ expectations of $65.88 million. Planet Labs PBC had a negative return on equity of 20.25% and a negative net margin of 34.46%.Planet Labs PBC’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) EPS. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On Planet Labs PBC

Large investors have recently modified their holdings of the business. CWM LLC increased its stake in shares of Planet Labs PBC by 129.9% in the third quarter. CWM LLC now owns 9,276 shares of the company’s stock worth $120,000 after purchasing an additional 5,241 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Planet Labs PBC by 45.1% during the second quarter. SBI Securities Co. Ltd. now owns 9,877 shares of the company’s stock valued at $60,000 after acquiring an additional 3,068 shares in the last quarter. Tableaux LLC purchased a new position in Planet Labs PBC during the second quarter valued at approximately $61,000. May Hill Capital LLC purchased a new position in Planet Labs PBC during the second quarter valued at approximately $62,000. Finally, Iron Gate Global Advisors LLC purchased a new position in Planet Labs PBC during the first quarter valued at approximately $36,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.