On January 22, 2026, Planet Labs PBC (NYSE: PL) director Gadde Vijaya sold 20,000 shares of Class A Common Stock, generating proceeds near $535,350. These shares exchanged hands over a series of transactions, with prices fluctuating between $26.76 and $26.815 per share. As a result of this disposition, Vijaya currently holds a direct ownership of 250,169 shares in the company.
In tandem with this insider transaction, Planet Labs recently reached a key stock milestone, triggering the release of additional shares. Specifically, the company issued 5,133,294 shares of Class A common stock and 584,052 shares of Class B common stock. This issuance follows the successful achievement of a stock price criterion detailed in the company’s 2021 merger agreement, which required the stock price to surpass $19.00 in at least 20 out of 30 consecutive trading days.
Complementing this milestone achievement, the company announced the signing of a multi-year contract with the Swedish Armed Forces. Valued in the low nine-figure range, this agreement represents Planet Labs’ third major satellite services contract within the past year. The contract scope includes the provision of satellites and associated data solutions designed to support peace and security operations.
Market analysts responded positively to these developments. Clear Street increased its price target for Planet Labs to $29.00, citing expectations of solid revenue growth and improved margins driven by the company’s strategic positioning. Morgan Stanley adjusted its target to $26.00 following the Swedish contract announcement, while Craig-Hallum raised its price target to $30.00, recognizing the importance of the company securing a third sovereign constellation deal within a relatively short timeframe.