Planet Labs PBC (NYSE: PL) director John Raymond has executed a significant stock sale, moving 6,494 shares of the company's Class A Common Stock on July 13, 2026. The transaction resulted in a total value of $169,871. The shares were disposed of at a weighted average price of $26.1582 per share. The sales were executed in multiple trades, with execution prices ranging from $25.69 to $26.89.
The transactions were carried out pursuant to a Rule 10b5-1 trading plan, which Mr. Raymond adopted on January 22, 2026. Prior to the sale, Mr. Raymond transferred 43,608 shares of Class A Common Stock from his direct ownership to the Raymond Family Rev Trust U/A DTD 05/30/2023. This revocable trust, for which Mr. Raymond and his spouse serve as trustees, subsequently held the shares involved in the sale. Following these transactions, the trust holds 37,114 shares of Planet Labs Class A Common Stock.
In other recent news, Amazon has achieved a significant milestone with its Leo constellation, now boasting 396 satellites in low-Earth orbit. This development allows Amazon to begin initial broadband services, positioning it in direct competition with SpaceX’s Starlink, which operates over 10,000 satellites. Additionally, Amazon is reportedly pursuing an acquisition of Globalstar, potentially to enhance its orbital spectrum capabilities. Meanwhile, Planet Labs has been active with several announcements. The company reported strong first-quarter fiscal 2027 results, surpassing consensus estimates for revenue and earnings per share, leading Needham to raise its price target to $53 while maintaining a Buy rating. Planet Labs also announced the appointment of Wolfgang Schmidt to its European Advisory Board and plans to launch a Pelican satellite with Isar Aerospace, targeting late 2026 for the launch. Furthermore, Planet Labs is participating in the Atmospheric Impact of Reentered Spacecraft initiative, a collaborative study on spacecraft reentry effects on Earth’s atmosphere.