Pictet Asset Management Holding SA Has $23.35 Million Stock Holdings in Planet Fitness, Inc. $PLNT

Key Points

• Pictet Asset Management cut its Planet Fitness stake by 63.7%, selling 378,278 shares and finishing the quarter with 215,248 shares worth about $23.35 million.
• Planet Fitness beat quarterly estimates with $0.83 EPS vs. $0.79 expected and $376.3M revenue (up 10.5% year-over-year), and set FY2026 guidance of 3.350–3.380 EPS.
• Despite recent target cuts from some firms, the consensus remains a Moderate Buy with an average price target of $110.64 versus a recent stock open near $66.54.

Pictet Asset Management Holding SA trimmed its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 63.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 215,248 shares of the company's stock after selling 378,278 shares during the quarter. Pictet Asset Management Holding SA owned about 0.26% of Planet Fitness worth $23,348,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Ninety One UK Ltd lifted its position in shares of Planet Fitness by 20.0% during the 3rd quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company's stock worth $359,308,000 after purchasing an additional 577,637 shares during the last quarter. Steadfast Capital Management LP grew its holdings in Planet Fitness by 4.6% in the 3rd quarter. Steadfast Capital Management LP now owns 1,888,992 shares of the company's stock valued at $196,077,000 after buying an additional 83,215 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Planet Fitness by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company's stock valued at $134,201,000 after buying an additional 24,981 shares during the last quarter. UBS Group AG increased its position in Planet Fitness by 4.0% in the 3rd quarter. UBS Group AG now owns 824,395 shares of the company's stock worth $85,572,000 after buying an additional 31,605 shares during the period. Finally, Federated Hermes Inc. increased its position in Planet Fitness by 21.0% in the 3rd quarter. Federated Hermes Inc. now owns 753,079 shares of the company's stock worth $78,170,000 after buying an additional 130,687 shares during the period. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Up 3.7%

Shares of NYSE:PLNT opened at $66.54 on Friday. The firm has a market cap of $5.32 billion, a P/E ratio of 25.40, a P/E/G ratio of 1.11 and a beta of 1.31. Planet Fitness, Inc. has a 12 month low of $63.41 and a 12 month high of $114.47. The company's 50-day moving average price is $75.05 and its two-hundred day moving average price is $91.98.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. The firm had revenue of $376.26 million for the quarter, compared to analyst estimates of $366.48 million. Planet Fitness had a negative return on equity of 97.97% and a net margin of 16.55%.The business's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company earned $0.70 EPS. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. As a group, equities analysts predict that Planet Fitness, Inc. will post 3.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stifel Nicolaus cut their target price on shares of Planet Fitness from $105.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Planet Fitness from $115.00 to $98.00 and set a "hold" rating for the company in a research report on Thursday, February 26th. JPMorgan Chase & Co. reduced their target price on shares of Planet Fitness from $120.00 to $105.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. UBS Group reissued a "buy" rating on shares of Planet Fitness in a research report on Wednesday, March 18th. Finally, KeyCorp assumed coverage on Planet Fitness in a research note on Thursday, March 12th. They set an "overweight" rating and a $100.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $110.64.

About Planet Fitness

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.

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