Planet Labs PBC
In the published model solve dated 2026-Q2, anchored at $22.36, Planet Labs PBC (PL) is priced for today's economics sustained for ~27.6 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
- At about $28 the price values Planet near 29 times revenue, and no standard valuation family reaches it. With operating margin still negative, the price is set against sales, and it implies the company eventually earns a roughly 20% operating margin and grows at its self-funding ceiling for an extraordinarily long stretch. That is a demanding bet on a business that does not yet earn an operating profit. - The moat is real and unusual: a proprietary satellite fleet imaging the entire Earth dail
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405 institutional managers reported holding PL in 13F filings for the quarter ended 2026-03-31. Together they hold about 78% of the company; the top 10 hold 45%. 114 opened new positions that quarter. Held by Vanguard Group, BlackRock, D. E. Shaw, among others. On the short side, 41.4M shares were sold short as of the 2026-06-15 count, about 12% of shares outstanding (2.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
Open-market insider buys at PL over the trailing three years: 2023: 1 buy totaling $270k; 2025: 1 buy totaling $0k. 13 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
PL's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-06-10 | -30.0% | +2.6% |
| 2023-09-08 | -13.3% | -20.8% |
| 2023-12-09 | -6.2% | -4.5% |
| 2024-03-30 | 0.0% | -27.1% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
PL's latest 8-K filings: 2026-07-10 (items 5.07); 2026-06-05 (items 1.01, 9.01); 2026-06-04 (items 2.02, 9.01); 2026-05-04 (items 8.01, 9.01); 2026-03-27 (items 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.