Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 11.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,896 shares of the company's stock after selling 20,911 shares during the quarter. Envestnet Asset Management Inc. owned 0.20% of Planet Fitness worth $16,402,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PLNT. Vanguard Group Inc. boosted its position in shares of Planet Fitness by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company's stock worth $794,496,000 after acquiring an additional 39,928 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Planet Fitness by 1.0% during the 4th quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company's stock valued at $356,841,000 after acquiring an additional 36,803 shares during the period. Ninety One UK Ltd purchased a new stake in shares of Planet Fitness in the 4th quarter worth about $130,376,000. Norges Bank acquired a new stake in Planet Fitness during the 4th quarter valued at $100,009,000. Finally, American Century Companies Inc. boosted its stake in shares of Planet Fitness by 36.4% during the 4th quarter. American Century Companies Inc. now owns 546,664 shares of the company's stock worth $54,049,000 after purchasing an additional 145,799 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Stock Down 0.6 %

PLNT traded down $0.57 during midday trading on Friday, reaching $93.91. The company had a trading volume of 1,037,277 shares, compared to its average volume of 1,438,202. The company has a market cap of $7.95 billion, a P/E ratio of 50.49, a P/E/G ratio of 2.45 and a beta of 1.39. Planet Fitness, Inc. has a 1 year low of $57.64 and a 1 year high of $110.00. The business has a 50-day moving average of $96.65 and a two-hundred day moving average of $95.93.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. The company had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm's revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. On average, equities research analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. DA Davidson reiterated a "neutral" rating and set a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Macquarie cut their price target on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. BMO Capital Markets boosted their price target on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Finally, Roth Mkm restated a "buy" rating and issued a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $101.72.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.