Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Planet Fitness, Inc. (NYSE:PLNT) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 195,383 shares of the company’s stock after selling 2,430 shares during the period. Principal Financial Group Inc. owned 0.23% of Planet Fitness worth $19,318,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PLNT. Nkcfo LLC bought a new stake in shares of Planet Fitness in the 4th quarter worth approximately $1,088,000. Values First Advisors Inc. acquired a new stake in Planet Fitness in the fourth quarter worth $227,000. Legato Capital Management LLC lifted its stake in Planet Fitness by 40.0% in the fourth quarter. Legato Capital Management LLC now owns 11,255 shares of the company’s stock valued at $1,113,000 after buying an additional 3,215 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Planet Fitness by 5.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,442 shares of the company’s stock valued at $439,000 after acquiring an additional 214 shares during the period. Finally, WCM Investment Management LLC bought a new position in shares of Planet Fitness during the fourth quarter worth about $22,289,000. 95.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PLNT. JPMorgan Chase & Co. boosted their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Robert W. Baird boosted their price objective on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Raymond James raised their target price on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Macquarie reiterated a “neutral” rating and set a $99.00 price target (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a report on Monday. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.69.

Planet Fitness Stock Performance

Planet Fitness stock opened at $99.63 on Tuesday. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 53.56, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53. Planet Fitness, Inc. has a 1 year low of $54.35 and a 1 year high of $110.00. The firm’s 50 day moving average price is $102.82 and its two-hundred day moving average price is $92.17.

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.