Planet Labs PBC (NYSE:PL) Shares Down 7.6% – Here’s Why

Posted by Francis Steltz on Jun 16th, 2026

Planet Labs PBC (NYSE:PL – Get Free Report) shares dropped 7.6% on Tuesday . The stock traded as low as $27.04 and last traded at $28.2460. Approximately 23,143,217 shares traded hands during mid-day trading, an increase of 71% from the average daily volume of 13,542,027 shares. The stock had previously closed at $30.58.

Analyst Ratings Changes

PL has been the subject of several research analyst reports. Wedbush reissued an “outperform” rating and issued a $50.00 target price on shares of Planet Labs PBC in a research report on Friday, June 5th. Morgan Stanley boosted their target price on shares of Planet Labs PBC from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 25th. New Street Research initiated coverage on shares of Planet Labs PBC in a research report on Wednesday, May 13th. They issued a “sell” rating and a $28.00 target price for the company. Needham & Company LLC boosted their target price on shares of Planet Labs PBC from $40.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Zacks Research downgraded shares of Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.11.

View Our Latest Stock Report on PL

Planet Labs PBC Trading Down 7.6%

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 business’s 50-day moving average is $38.88 and its two-hundred day moving average is $28.60. The firm has a market cap of $10.07 billion, a P/E ratio of -24.78 and a beta of 1.99.

Planet Labs PBC (NYSE:PL – Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The business had revenue of $94.15 million during the quarter, compared to the consensus estimate of $90.39 million. The company’s quarterly revenue was up 42.1% on a year-over-year basis. As a group, analysts expect that Planet Labs PBC will post -0.81 earnings per share for the current fiscal year.

Insider Transactions at Planet Labs PBC

In related news, insider Robert H. Schingler sold 73,683 shares of the business’s stock in a transaction dated 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 owned 256,488 shares of the company’s stock, valued at $8,995,034.16. This represents a 22.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 dated 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 approximately $66,520,186.20. This represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. 16.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Planet Labs PBC

A number of institutional investors have recently modified their holdings of PL. American Capital Advisory LLC acquired a new position in Planet Labs PBC during the 1st quarter valued at about $28,000. Western Wealth Management LLC acquired a new position in Planet Labs PBC during the 1st quarter valued at about $28,000. Parkside Financial Bank & Trust boosted its stake in Planet Labs PBC by 92.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock valued at $31,000 after purchasing an additional 745 shares during the period. Baillie Gifford & Co. acquired a new position in Planet Labs PBC during the 4th quarter valued at about $32,000. Finally, Pittenger & Anderson Inc. boosted its stake in Planet Labs PBC by 40.9% during the 1st quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock valued at $38,000 after purchasing an additional 395 shares during the period. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Company Profile

(Get 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.