Planet Labs PBC (NYSE:PL) Shares Down 5% – Here’s What Happened

Shares of Planet Labs PBC (NYSE:PL) fell 5% during trading on Tuesday . The company traded as low as $29.32 and last traded at $31.1130. 22,111,161 shares traded hands during trading, an increase of 65% from the average session volume of 13,396,243 shares. The stock had previously closed at $32.74.

Trending Headlines about Planet Labs PBC

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

• Positive Sentiment: Planet Labs is benefiting from a strong bid in space stocks, with traders favoring the group ahead of SpaceX’s Friday IPO and pushing peer names higher as well. Article Title
• Positive Sentiment: Investors are also reacting to a new sustainability-focused AIRS initiative that links Planet Labs’ satellite data to environmental and corporate sustainability use cases, which could help support longer-term commercial demand. Article Title
• Positive Sentiment: Options activity has picked up in Planet Labs, suggesting traders are positioning for more near-term volatility and upside momentum in the stock. Article Title
• Neutral Sentiment: Northland Securities made mixed changes to its estimates, lowering some near-term and longer-term EPS forecasts while nudging up its Q2 2027 estimate, which does not clearly point to a material change in the fundamental outlook. Article Title
• Neutral Sentiment: Coverage notes that Planet Labs has been volatile alongside the broader space sector, with traders rotating in and out of the group rather than responding to a single operational update. Article Title
• Negative Sentiment: Several analyst revisions from Northland Securities cut EPS estimates for FY2027 and some quarterly periods, reinforcing expectations that profitability will remain challenged. Article Title

Analyst Upgrades and Downgrades

A number of brokerages have commented on PL. New Street Research began coverage on shares of Planet Labs PBC in a research note on Wednesday, May 13th. They set a “sell” rating and a $28.00 target price on the stock. Citigroup upped their price target on Planet Labs PBC from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Northland Securities set a $50.00 price target on Planet Labs PBC in a report on Friday, June 5th. Zacks Research downgraded Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, Wedbush restated an “outperform” rating and issued a $50.00 price objective on shares of Planet Labs PBC in a report on Friday, June 5th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.28.

Planet Labs PBC Price Performance

The stock has a market cap of $11.85 billion, a price-to-earnings ratio of -30.04 and a beta of 1.99. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 1.01. The company’s fifty day moving average is $38.86 and its two-hundred day moving average is $28.17.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings results on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The company had revenue of $94.15 million for the quarter, compared to analysts’ expectations of $90.39 million. The firm’s revenue for the quarter was up 42.1% compared to the same quarter last year. As a group, research analysts predict that Planet Labs PBC will post -0.45 earnings per share for the current year.

Insider Transactions at Planet Labs PBC

In related news, insider Robert H. Schingler sold 73,683 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the completion of the transaction, the insider directly owned 256,488 shares in the company, valued at $8,995,034.16. This trade represents a 22.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total value of $7,020,000.00. Following the transaction, the chief financial officer owned 1,895,162 shares of the company’s stock, valued at $66,520,186.20. This trade represents a 9.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 16.42% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PL. Van ECK Associates Corp grew its holdings in shares of Planet Labs PBC by 320.3% in the fourth quarter. Van ECK Associates Corp now owns 7,678,938 shares of the company’s stock valued at $151,429,000 after purchasing an additional 5,851,758 shares in the last quarter. Barclays PLC grew its holdings in shares of Planet Labs PBC by 758.1% in the third quarter. Barclays PLC now owns 3,727,743 shares of the company’s stock valued at $48,386,000 after purchasing an additional 3,293,333 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Planet Labs PBC by 265.6% in the third quarter. Invesco Ltd. now owns 3,450,479 shares of the company’s stock valued at $44,787,000 after purchasing an additional 2,506,595 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of Planet Labs PBC by 257.5% in the third quarter. Two Sigma Investments LP now owns 2,362,275 shares of the company’s stock valued at $30,662,000 after purchasing an additional 1,701,535 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Planet Labs PBC by 9.7% in the third quarter. Vanguard Group Inc. now owns 18,551,697 shares of the company’s stock valued at $240,801,000 after purchasing an additional 1,637,880 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

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.