King Luther Capital Management Corp Lowers Stock Holdings in Planet Labs PBC $PL

Posted by Francis Steltz on May 28th, 2026

King Luther Capital Management Corp lowered its stake in shares of Planet Labs PBC (NYSE:PL – Free Report) by 18.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 705,273 shares of the company’s stock after selling 155,007 shares during the period. King Luther Capital Management Corp’s holdings in Planet Labs PBC were worth $13,908,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Revere Asset Management Inc purchased a new stake in Planet Labs PBC in the 4th quarter valued at approximately $768,000. Wellington Shields & Co. LLC boosted its holdings in Planet Labs PBC by 2.8% in the 4th quarter. Wellington Shields & Co. LLC now owns 15,776 shares of the company’s stock valued at $311,000 after purchasing an additional 435 shares in the last quarter. Legal & General Group Plc boosted its holdings in Planet Labs PBC by 1.7% in the 4th quarter. Legal & General Group Plc now owns 265,768 shares of the company’s stock valued at $5,241,000 after purchasing an additional 4,452 shares in the last quarter. SLT Holdings LLC purchased a new stake in Planet Labs PBC in the 4th quarter valued at approximately $208,000. Finally, Lisanti Capital Growth LLC purchased a new stake in Planet Labs PBC in the 4th quarter valued at approximately $2,071,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Price Performance

PL stock opened at $50.35 on Thursday. The firm has a 50 day moving average of $36.74 and a 200-day moving average of $26.12. Planet Labs PBC has a 12-month low of $3.66 and a 12-month high of $51.13. The company has a current ratio of 1.65, a quick ratio of 1.64 and a debt-to-equity ratio of 2.37. The company has a market cap of $17.43 billion, a price-to-earnings ratio of -64.54 and a beta of 1.91.

Insider Buying and Selling

In other news, CFO Ashley F. Johnson sold 200,000 shares of Planet Labs PBC stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 1,895,162 shares in the company, valued at approximately $66,520,186.20. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert H. Schingler sold 73,683 shares of Planet Labs PBC stock in a transaction that occurred 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 sale, the insider owned 256,488 shares of the company’s stock, valued at approximately $8,995,034.16. The trade was a 22.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PL has been the topic of a number of analyst reports. Cantor Fitzgerald lifted their price objective on Planet Labs PBC from $20.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Citigroup lifted their price objective on Planet Labs PBC from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Morgan Stanley lifted their price objective on Planet Labs PBC from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, March 25th. The Goldman Sachs Group lifted their price objective on Planet Labs PBC from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, April 20th. Finally, Zacks Research lowered Planet Labs PBC from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Planet Labs PBC currently has an average rating of “Hold” and a consensus target price of $30.61.

View Our Latest Research Report on PL

Planet Labs PBC Profile

(Free Report)

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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Institutional Ownership by Quarter for Planet Labs PBC (NYSE:PL)

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