Bullish Planet Labs PBC Insiders Loaded Up On US$1.27m Of Stock
Quite a few insiders have dramatically grown their holdings in Planet Labs PBC (NYSE:PL) over the past 12 months. An insider's optimism about the company's prospects is a positive sign.
Although we don't think shareholders should simply follow insider transactions, logic dictates you should pay some attention to whether insiders are buying or selling shares.
See our latest analysis for Planet Labs PBC
The Last 12 Months Of Insider Transactions At Planet Labs PBC
Over the last year, we can see that the biggest insider purchase was by President of Product & Business Kevin Weil for US$997k worth of shares, at about US$3.64 per share. That means that an insider was happy to buy shares at above the current price of US$2.20. It's very possible they regret the purchase, but it's more likely they are bullish about the company. We always take careful note of the price insiders pay when purchasing shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.
While Planet Labs PBC insiders bought shares during the last year, they didn't sell. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insider Ownership Of Planet Labs PBC
Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. Planet Labs PBC insiders own about US$57m worth of shares. That equates to 9.1% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Does This Data Suggest About Planet Labs PBC Insiders?
It doesn't really mean much that no insider has traded Planet Labs PBC shares in the last quarter. On a brighter note, the transactions over the last year are encouraging. Insiders own shares in Planet Labs PBC and we see no evidence to suggest they are worried about the future. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. While conducting our analysis, we found that Planet Labs PBC has 2 warning signs and it would be unwise to ignore these.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
