Planet Labs (PL) Stock Drops as CFO Cashes Out $7M While Analysts Stay Bullish

TLDR

• Planet Labs (PL) fell 2.6% on Monday, trading as low as $34.21 before closing around $34.96.
• CFO and President Ashley F. Johnson sold 200,000 shares on April 2 for approximately $7 million.
• Q4 fiscal 2026 revenue came in at $86.82M — up 41.1% year-over-year and beating estimates — but EPS missed badly at ($0.48) vs. ($0.05) expected.
• Several analysts raised price targets, including Needham and Wedbush to $40, and Citi to $35.
• Planet Labs also announced it will redeem all outstanding public warrants on April 27, 2026, at $0.01 per warrant.

Planet Labs (PL) dropped 2.6% on Monday as investors digested a large insider sale from the company’s top executive alongside mixed quarterly results.

Planet Labs PBC, PL

CFO and President Ashley F. Johnson sold 200,000 Class A shares on April 2, pulling in roughly $7 million. The sales were split across two tranches — 51,460 shares priced between $34.57 and $34.94, and a second batch of 148,540 shares at $34.585 to $35.87.

On April 6, Johnson also transferred 525,708 shares to The Johnson Joint Revocable Trust, a trust she and her spouse control as co-trustees.

Insider activity had already been elevated heading into this week. Over the last quarter, insiders collectively sold 218,566 shares worth just under $5.9 million. Director Vijaya Gadde also offloaded 20,000 shares back in January.

That kind of selling pressure tends to make the market nervous — even when the business fundamentals are actually improving.

Revenue Beat, But Earnings Miss

Planet Labs posted Q4 fiscal 2026 revenue of $86.82 million, well above the $78.17 million consensus estimate. That’s a 41.1% jump from the same period last year.

On the earnings side, though, the company missed. EPS came in at ($0.48), well below the ($0.05) estimate analysts had penciled in. The company remains unprofitable, carrying a negative net margin of 80.22% and a negative return on equity of 69.61%.

For Q1 fiscal 2027, management guided revenue 5% above consensus — a detail that helped keep analyst sentiment mostly positive despite the EPS miss.

Goldman Sachs raised its price target to $18 while keeping a Neutral rating. Needham lifted its target to $40, citing revenue and EPS beats of 11% and $0.02, respectively, and maintained its Buy rating. Wedbush also moved its target from $30 to $40 with an Outperform call. Citi bumped its target from $30 to $35 with a Buy rating.

The stock’s 50-day moving average sits at $26.21, and the 200-day is at $19.64 — both well below Monday’s trading price.

Satellites and Warrants

On the operational side, Planet Labs recently shipped three Pelican satellites to Vandenberg Space Force Base in California for an upcoming SpaceX rideshare mission. The satellites carry NVIDIA’s Jetson AI platform for onboard data processing.

Warrant Redemption

The company announced it will redeem all outstanding public warrants for Class A common stock on April 27, 2026, at $0.01 per warrant.

Volume on Monday came in at around 12.5 million — about 11% below the daily average of 14.1 million.

Planet Labs currently has a market cap of $12.10 billion, a debt-to-equity ratio of 2.37, and a beta of 1.83.

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