Shares of Planet Labs PBC rose almost 8% to $3.94 per share in Wednesday’s after-hours session following news that an officer of the company recently boosted his stake.
Kevil Weil, Planet’s president of product & business, bought 274,000 shares at $3.64 each. That increased his holdings in the company to 1.4 million of shares directly held and 439,580 shares indirectly held, the company said in a filing to the U.S. Securities and Exchange Commission.
The stock finished the regular session down 1.61% to close at $3.66 per share. The company has a market cap of $1.02 billion, 253.81 million shares outstanding and a public float of 157.7 million shares.
Planet Labs said it’s a global satellite intelligence infrastructure company.