Planet Labs PBC $PL Shares Purchased by Geode Capital Management LLC

Key Points

• Geode Capital Management boosted its Planet Labs stake by 1.3% in the fourth quarter, ending with 5.7 million shares worth about $112.5 million. Institutional investors now own 41.71% of the stock.
• Planet Labs reported record quarterly revenue of $94.2 million, up 42.1% year over year and above estimates, while also raising its full-year revenue outlook to $425 million-$441 million. The company said defense and intelligence revenue grew more than 65% and backlog continued to expand.
• Despite the strong results, shares have come under pressure amid investor concerns about dilution from a large at-the-market stock program. The stock also saw insider selling, including notable sales by an insider and the CFO.

Geode Capital Management LLC increased its stake in shares of Planet Labs PBC (NYSE:PL - Free Report) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,702,642 shares of the company's stock after purchasing an additional 71,381 shares during the period. Geode Capital Management LLC owned 1.82% of Planet Labs PBC worth $112,475,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PL. MCF Advisors LLC acquired a new position in shares of Planet Labs PBC during the 3rd quarter worth approximately $32,000. Baillie Gifford & Co. acquired a new position in shares of Planet Labs PBC during the 4th quarter worth approximately $32,000. Larson Financial Group LLC acquired a new position in shares of Planet Labs PBC during the 3rd quarter worth approximately $39,000. GAMMA Investing LLC raised its position in shares of Planet Labs PBC by 146.4% during the 4th quarter. GAMMA Investing LLC now owns 2,011 shares of the company's stock worth $40,000 after purchasing an additional 1,195 shares during the last quarter. Finally, North Star Investment Management Corp. raised its position in shares of Planet Labs PBC by 1,111.1% during the 4th quarter. North Star Investment Management Corp. now owns 2,180 shares of the company's stock worth $43,000 after purchasing an additional 2,000 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Planet Labs PBC

In other news, insider Robert H. Schingler sold 73,683 shares of the business's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the completion of the sale, the insider directly owned 256,488 shares of the company's stock, valued at $8,995,034.16. The trade was a 22.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ashley F. Johnson sold 200,000 shares of the business's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the sale, the chief financial officer directly owned 1,895,162 shares of the company's stock, valued at $66,520,186.20. This represents a 9.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 16.42% of the stock is owned by insiders.

Planet Labs PBC News Summary

Here are the key news stories impacting Planet Labs PBC this week:

• Positive Sentiment: Planet Labs posted record quarterly revenue of $94.2 million, above estimates, and said revenue rose 42% year over year, showing continued demand for its satellite imagery and data services. Planet Reports Financial Results for First Quarter of Fiscal Year 2027
• Positive Sentiment: The company also raised its full-year outlook, guiding FY2027 revenue to $425 million-$441 million, which was roughly in line to slightly above Wall Street expectations and reinforced confidence in growth momentum. Planet forecasts FY2027 revenue of $425M-$441M as it targets Rule of 40
• Positive Sentiment: Planet expanded its backlog and said defense and intelligence revenue grew more than 65% year over year, highlighting a healthy pipeline and stronger government demand. Planet Labs beats Q1 estimates as defense revenue surges, shares fall on outlook
• Positive Sentiment: Wedbush and Needham both reiterated constructive views, with price targets raised to $50 and $53 respectively, suggesting analysts still see meaningful upside from current levels. Why Is Planet Labs Stock Sinking Friday?
• Neutral Sentiment: Planet also extended its NGA partnership with an $22 million maritime surveillance contract, adding another government revenue stream and supporting longer-term visibility. Planet Labs Extends NGA Partnership With $22 Million Maritime Surveillance Contract
• Negative Sentiment: Shares are under pressure because investors are worried about dilution after Planet filed for a large at-the-market stock program, which could increase the share count over time. Planet Labs Launches $1.5 Billion ATM Stock Program
• Negative Sentiment: Some traders were also disappointed that full-year guidance and capital-allocation details did not appear aggressive enough, leading to a selloff despite the earnings beat. Wedbush makes a strong case for buying the dip in Planet Labs stock

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Needham & Company LLC lifted their price objective on Planet Labs PBC from $40.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft set a $38.00 target price on shares of Planet Labs PBC and gave the stock a "buy" rating in a research note on Friday, March 27th. Craig Hallum lifted their target price on shares of Planet Labs PBC from $36.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday. New Street Research started coverage on shares of Planet Labs PBC in a research note on Wednesday, May 13th. They issued a "sell" rating and a $28.00 target price for the company. Finally, Cantor Fitzgerald lifted their target price on shares of Planet Labs PBC from $20.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, March 20th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Planet Labs PBC currently has an average rating of "Hold" and an average price target of $35.11.

Planet Labs PBC Stock Down 26.3%

PL stock opened at $32.08 on Friday. The stock has a market capitalization of $11.10 billion, a P/E ratio of -28.14 and a beta of 1.99. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.64 and a current ratio of 1.65. Planet Labs PBC has a one year low of $4.90 and a one year high of $51.76. The company has a 50 day moving average price of $38.79 and a two-hundred day moving average price of $27.63.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its earnings results on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $94.15 million during the quarter, compared to analysts' expectations of $90.39 million. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 114.96%. Planet Labs PBC's revenue was up 42.1% compared to the same quarter last year. As a group, sell-side analysts expect that Planet Labs PBC will post -0.45 EPS for the current year.

Planet Labs PBC Company Profile

Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company's multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet's imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.

Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.

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