Robert H. Schingler, the co-founder and Chief Strategy Officer of Planet Labs PBC (NYSE: PL), has reported the sale of 89,593 Class A Common Stock shares. The transaction, valued at approximately $2,322,223, took place on July 10, 2026. Schingler disposed of these shares at a price of $25.9197 per share, a figure closely aligned with the stock's trading price of $25.96 at the time.
The stock has experienced significant volatility and growth over recent periods, delivering a 318% return over the past year. However, it has declined 9.4% in the past week, according to InvestingPro analysis. This analysis indicates that Planet Labs appears overvalued at current levels, placing it on the platform’s Most Overvalued list. The shares sold by Schingler included 25,000 shares held indirectly through the Ulysses Trust 02021, dated February 26, 2021. This portion of the transaction was executed pursuant to a Rule 10b5-1 trading plan, which Schingler adopted on July 14, 2025. The remaining 64,593 shares were sold from his directly held holdings.
Following these transactions, Schingler directly holds 825,541 shares. This total includes 744,984 Restricted Stock Units (RSUs), which represent a contingent right to receive one share of the issuer’s Class A Common Stock each, with no expiration date. These RSUs vest in equal quarterly installments on the 15th of March, June, September, and December. Additionally, he indirectly holds 225,171 shares.
Planet Labs recently reported strong first-quarter fiscal 2027 results, surpassing consensus revenue and earnings per share estimates by 4.6% and $0.02, respectively. In response to these results, Needham raised its price target for Planet Labs shares to $53, maintaining a Buy rating.
The company is also advancing strategic initiatives, including its participation as a founding member in the Atmospheric Impact of Reentered Spacecraft initiative, aimed at studying spacecraft reentry effects on Earth’s atmosphere. Furthermore, Planet Labs is advancing plans for a satellite manufacturing facility in Berlin, which will serve as its European center for satellite production. In a separate development, Planet Labs signed a launch agreement with Isar Aerospace to launch one of its Pelican satellites, with future launches planned. The satellite will be assembled at Planet’s Berlin facility and is scheduled to launch as early as late 2026.
Meanwhile, Amazon’s Leo constellation has reached a milestone with 396 satellites in low-Earth orbit, enabling it to begin initial broadband service. Reports suggest Amazon is exploring the acquisition of Globalstar to enhance its orbital spectrum and competitive positioning.