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

Key Points

• Planet Labs PBC's shares fell by 7% to $14.04 after insider Robert H. Schingler sold 81,656 shares at an average price of $15.50, leading to a significant decrease in ownership.
• Despite the decline in stock price, Wall Street analysts remain relatively optimistic, with a consensus rating of "Moderate Buy" and price targets ranging from $4.60 to $17.00.
• Planet Labs PBC reported a loss of ($0.07) earnings per share for the latest quarter, while revenue increased by 20.1% year-over-year, reaching $73.39 million, exceeding analyst expectations.

Planet Labs PBC (NYSE:PL - Get Free Report) shares dropped 7% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $14.28 and last traded at $14.04. Approximately 3,979,061 shares were traded during trading, a decline of 52% from the average daily volume of 8,369,119 shares. The stock had previously closed at $15.09.

Specifically, insider Robert H. Schingler sold 81,656 shares of Planet Labs PBC stock in a transaction that occurred on 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 sale, the insider owned 1,288,843 shares in the company, 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 SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

PL has been the subject of several recent research reports. Citigroup restated an "outperform" rating on shares of Planet Labs PBC in a research report on Tuesday, September 9th. Wedbush increased their price objective on Planet Labs PBC from $11.00 to $17.00 and gave the stock an "outperform" rating in a report on Thursday, October 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Planet Labs PBC in a report on Wednesday, October 8th. Needham & Company LLC increased their price objective on Planet Labs PBC from $8.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. Finally, The Goldman Sachs Group initiated coverage on Planet Labs PBC in a research note on Monday, June 30th. They set a "neutral" rating and a $4.60 price target for the company. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Planet Labs PBC presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.56.

Planet Labs PBC Trading Down 7.9%

The firm has a market cap of $4.28 billion, a price-to-earnings ratio of -46.36 and a beta of 1.99. The firm has a 50-day moving average of $9.94 and a two-hundred day moving average of $6.54.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly earnings data on Monday, September 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.03). Planet Labs PBC had a negative net margin of 34.46% and a negative return on equity of 20.25%. The business had revenue of $73.39 million during the quarter, compared to analyst estimates of $65.88 million. During the same quarter in the prior year, the company posted ($0.06) EPS. The company's quarterly revenue was up 20.1% compared to the same quarter last year. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities analysts anticipate that Planet Labs PBC will post -0.37 EPS for the current year.

Institutional Investors Weigh In On Planet Labs PBC

A number of institutional investors have recently made changes to their positions in PL. Iron Gate Global Advisors LLC acquired a new position in shares of Planet Labs PBC in the first quarter valued at approximately $36,000. HighTower Advisors LLC acquired a new position in Planet Labs PBC during the first quarter valued at approximately $37,000. Forum Financial Management LP acquired a new stake in Planet Labs PBC in the first quarter valued at $39,000. Wellington Shields & Co. LLC acquired a new stake in Planet Labs PBC in the first quarter valued at $39,000. Finally, Mackenzie Financial Corp lifted its stake in Planet Labs PBC by 32.1% in the first quarter. Mackenzie Financial Corp now owns 13,364 shares of the company's stock valued at $45,000 after acquiring an additional 3,245 shares during the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

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.

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