Is this U.S.-China selloff a buy? A top Wall Street voice weighs in
Director Carl Bass of Planet Labs PBC (NYSE:PL) sold 376,748 shares of Class A Common Stock on October 6, 2025, at prices ranging from $15.55 to $15.85, netting $5,903,264. The sale comes as Planet Labs’ stock trades near its 52-week high of $16.01, having delivered an impressive 632% return over the past year. According to InvestingPro analysis, technical indicators suggest the stock is currently in overbought territory.
On the same day, Bass also exercised options to acquire 376,748 shares of Class A Common Stock at a price of $2.33, for a total value of $877,822. Following these transactions, Bass directly owns 317,530 shares of Planet Labs PBC , representing a stake in the company now valued at approximately $4.8 billion. Get access to 16 additional InvestingPro Tips and comprehensive technical analysis for smarter trading decisions.
In other recent news, Planet Labs PBC has secured a $7.5 million contract renewal with the US Navy for vessel detection and monitoring services in the Pacific region. This contract will integrate the company’s satellite data into a maritime situational awareness tool used by the Navy. Additionally, Planet Labs has extended its partnership with European research organization VITO to enhance Earth observation capabilities, focusing on agriculture and environmental resilience. In terms of analyst activity, Wedbush analyst Daniel Ives raised his price target for Planet Labs to $17, citing increased demand for the company’s data satellite solutions, particularly in the government sector. Meanwhile, JMP Securities reiterated its Market Outperform rating and maintained an $11 price target after recent investor meetings. Planet Labs has also made data from its Tanager-1 hyperspectral satellite commercially available, offering new products like Methane Quicklook in collaboration with Carbon Mapper.
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