Planet Labs PBC (NYSE:PL) saw notable insider activity as its President and CFO, Ashley F. Johnson, sold a combined total of 150,731 shares of Class A Common Stock on January 21, 2026. These shares were sold in two separate transactions at prices fluctuating between $26.9975 and $27.042 per share, cumulatively yielding approximately $4,071,803 in proceeds.
Additionally, on January 20, 2026, Ms. Johnson gifted 5,000 shares of Class A Common Stock. On the day following, she made a further sale of 33,693 shares for around $888,821 at a share price of $26.38. However, Ms. Johnson also increased her holdings through the conversion of Earnout shares, acquiring 61,314 additional Class A shares on January 21, 2026.
These insider transactions come amid strategic corporate developments. Planet Labs secured a substantial multi-year contract with the Swedish Armed Forces, reportedly valued in the low nine-figure range. The agreement entails supplying Sweden with a comprehensive package of satellites and granting access to high-resolution data together with intelligence solutions. This contract represents Planet Labs’ third major satellite services agreement within the last twelve months, highlighting the company’s expanding footprint in defense and intelligence satellite services.
Following this announcement, financial analysts have revised their target prices for Planet Labs' stock. Clear Street increased its price target to $29, continuing to rate the stock as a Buy, emphasizing the company’s promising position for sustained revenue growth and margin improvements. Morgan Stanley also adjusted its price target upward to $26 while maintaining an Equalweight rating, influenced by the recent contract acquisition. Meanwhile, Craig-Hallum raised its price target to $30 and retained a Buy rating, identifying the Swedish Armed Forces contract as a significant addition to Planet Labs' portfolio of large-scale deals. These analyst perspectives underscore confidence in the company’s expansion and strategic initiatives within the satellite services sector.