Planet Labs: A Director’s Sale & My Increasing Discomfort

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So, Kristen Robinson, a director at Planet Labs (PL 5.24%), unloaded 47,835 shares on January 21st, 2026. Roughly $1.3 million worth. Okay. Fine. People sell stock. It happens. But it’s how it happens, you know? The SEC filing… it’s like they deliberately try to make it confusing. “Indirect” sales? What does that even mean? It’s not direct, but it’s still…shares. It’s a semantic nightmare. And then they expect me, a portfolio manager, to just…decipher it? Honestly, it’s insulting.

Transaction Details (Because We Have to)

Metric Value
Shares Sold (Indirectly, Apparently) 47,835
Transaction Value $1.3 million
Post-Transaction Shares (Direct) 37,107
Post-Transaction Shares (Indirect…Still?) 222,897
Post-Transaction Value (Direct Ownership) ~$978,883

The weighted average purchase price was $26.96, and the market close on the 21st was $26.38. See? They could just tell you that plainly. But no. They have to add all this extra…stuff. It’s like they’re actively trying to obfuscate the information. I swear, some people just want to watch the world burn…or at least make my job needlessly complicated.

Let’s Overthink This (Because That’s What I Do)

  • Is this sale unusual? It’s the first open-market sale Robinson has reported in two years. Before that, it was all “administrative entries.” Administrative entries! What are those? Is she just… filing paperwork? Is that what we’re paying her for?
  • How much stock does she have left? 37,107 direct shares and 222,897 indirect. Indirect! It’s like she’s hiding something. What is she hiding? Is it a huge amount of stock? Is it a small amount of stock? It’s the uncertainty that gets me.

The Company Itself (Ugh)

Metric Value
Revenue (TTM) $282.46 million
Net Income (TTM) -$129.56 million
1-Year Price Change 350%

Okay, so they’re not profitable. A net loss of almost $130 million. But the stock’s up 350% in a year. That’s… concerning. It’s like they’re operating on fumes and hoping for the best. And everyone’s just… buying it? It’s irrational. It’s… infuriatingly irrational.

What Does It All Mean? (I Have No Idea)

Planet Labs builds satellites, apparently. They look at the Earth. They sell data. It’s all very…spacey. They just landed a nine-figure deal with the Swedish Armed Forces. Which is good, I guess. But it doesn’t explain the stock price. Or the director’s sale. Or the infuriatingly complex SEC filing.

Look, the stock has been soaring. It’s up 26% in January alone. Maybe Robinson just thought, “Hey, good time to take some chips off the table.” Perfectly reasonable. But why make the filing so… needlessly complicated? Why the “indirect” sales? It’s like they’re deliberately trying to create ambiguity. And that, my friends, is unacceptable. It’s just…unacceptable.

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2026-01-31 23:02