Why Planet Labs (PL) Stock Is Down Today

Planet Labs (PL) is down 7.6% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely explanation is a mix of continued pressure on speculative space stocks and an ongoing dilution overhang from Planet’s large at-the-market equity program. There does not appear to be a major new company-specific announcement tied to today’s drop, so this could be because investors are still reacting to financing risk and recent insider sale filings rather than fresh operating news. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1836833/000114036126024109/ef20075554_8k.htm))

Details:

Planet’s shares traded around $20.63 on July 24, 2026, after opening at $22.23, showing a sharp intraday reversal and elevated volatility.

On June 5, Planet entered an agreement that allows it to sell up to $1.5 billion of Class A stock over time through an at-the-market program and related forward transactions, which can weigh on sentiment even if no shares are sold immediately. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1836833/000114036126024109/ef20075554_8k.htm))

A Form 144 filed on July 10 showed a proposed sale of shares by co-founder and CEO Will Marshall, and another recent Form 4 filing showed insider selling activity, adding to supply concerns for some traders. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1836833/000195004726007019/0001950047-26-007019-index.htm))

Planet’s most recent quarterly release kept a growth narrative in place, including fiscal Q2 2027 revenue guidance of about $102 million to $107 million, which suggests today’s move may be more about market positioning than a sudden deterioration in fundamentals. ([s29.q4cdn.com](https://s29.q4cdn.com/903184914/files/doc_earnings/2027/q1/earnings-result/PL-Q1-27-Press-Release.pdf))

Sources:

SEC, Planet Labs Investor Relations, MarketBeat

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$PL Insider Trading Activity

$PL insiders have traded $PL stock on the open market 10 times in the past 6 months. Of those trades, 0 have been purchases and 10 have been sales.

Here’s a breakdown of recent trading of $PL stock by insiders over the last 6 months:

WILLIAM SPENCER MARSHALL (Co-Founder and CEO) has made 0 purchases and 2 sales selling 400,000 shares for an estimated $12,198,460.
ASHLEY F. JOHNSON (President & CFO) has made 0 purchases and 2 sales selling 200,000 shares for an estimated $7,020,218.
ROBERT H SCHINGLER (Co-Founder Chief Strategy Off.) has made 0 purchases and 3 sales selling 163,276 shares for an estimated $4,906,581.
ITA M BRENNAN sold 36,500 shares for an estimated $1,237,579
KRISTEN ROBINSON sold 37,107 shares for an estimated $929,637
JOHN W RAYMOND sold 6,494 shares for an estimated $169,871

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$PL Hedge Fund Activity

We have seen 234 institutional investors add shares of $PL stock to their portfolio, and 155 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

AMERICAN CENTURY COMPANIES INC added 5,733,394 shares (+7134.3%) to their portfolio in Q1 2026, for an estimated $160,248,362
BLACKROCK, INC. added 5,235,560 shares (+25.9%) to their portfolio in Q1 2026, for an estimated $146,333,902
ALLIANCEBERNSTEIN L.P. added 3,797,295 shares (+1578.9%) to their portfolio in Q1 2026, for an estimated $106,134,395
ALPHABET INC. added 3,306,252 shares (+10.4%) to their portfolio in Q1 2026, for an estimated $92,409,743
UBS GROUP AG added 2,835,917 shares (+363.1%) to their portfolio in Q1 2026, for an estimated $79,263,880
MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. added 2,583,152 shares (+2608.2%) to their portfolio in Q2 2026, for an estimated $85,579,825
LORD, ABBETT & CO. LLC added 2,475,619 shares (+inf%) to their portfolio in Q1 2026, for an estimated $69,193,551

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$PL Price Targets

Multiple analysts have issued price targets for $PL recently. We have seen 8 analysts offer price targets for $PL in the last 6 months, with a median target of $37.5.

Here are some recent targets:

Dan Ives from Wedbush set a target price of $50.0 on 07/01/2026
Ryan Koontz from Needham set a target price of $53.0 on 06/05/2026
Jeff Van Rhee from Craig-Hallum set a target price of $49.0 on 06/05/2026
Anthony Valentini from Goldman Sachs set a target price of $20.0 on 04/20/2026
John Godyn from Citigroup set a target price of $35.0 on 04/02/2026
Kristine Liwag from Morgan Stanley set a target price of $35.0 on 03/25/2026
Colin Canfield from Cantor Fitzgerald set a target price of $40.0 on 03/20/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.