ArrowMark Colorado Holdings Reduces Planet Labs Stake

Investment firm sells 340,000 shares of satellite imaging company

Mar. 16, 2026 at 7:40am

Got story updates? Submit your updates here. ›

ArrowMark Colorado Holdings LLC lowered its position in shares of Planet Labs PBC (NYSE:PL) by 31.9% in the third quarter, according to a recent 13F filing with the Securities & Exchange Commission. The firm sold 340,000 shares, reducing its stake in the satellite imaging company to 724,958 shares worth $9.41 million.

Why it matters

The sale by ArrowMark Colorado Holdings, a major institutional investor in Planet Labs, could signal a shift in sentiment around the company's prospects. Planet Labs is a leading provider of satellite imagery and data analytics, serving a range of industries, but faces competition in the growing satellite imaging market.

The details

According to the 13F filing, ArrowMark Colorado Holdings sold 340,000 shares of Planet Labs during the third quarter, reducing its stake by nearly a third. The firm now owns 724,958 shares, or 0.24% of the company's outstanding stock. Planet Labs went public via a SPAC merger in 2021 and has seen its share price fluctuate as it works to expand its customer base and satellite fleet.

  • The 13F filing detailing the share sale was submitted in the third quarter of 2026.

The players

ArrowMark Colorado Holdings LLC

An investment management firm that previously held a significant stake in satellite imaging company Planet Labs PBC.

Planet Labs PBC

A public company that operates a fleet of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a range of industries.

Got photos? Submit your photos here. ›

The takeaway

The reduction in ArrowMark Colorado Holdings' stake in Planet Labs could signal broader investor uncertainty about the company's ability to maintain its competitive edge in the growing satellite imaging market. However, Planet Labs remains a leading player in the industry and its long-term prospects will depend on its ability to continue innovating and expanding its customer base.