A company insider recently sold 44 shares of Planet Fitness Inc. [PLNT]. Should You Sale?


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Planet Fitness Inc. shares valued at $3,575 were sold by Bode William on Apr 11. At $81.25 per share, Bode William sold 44 shares. The insider’s holdings dropped to 7,310 shares worth approximately $0.61 million following the completion of this transaction.

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Also, Bode William sold 116 shares, netting a total of over 9,730 in proceeds. Following the sale of shares at $83.88 each, the insider now holds 7,354 shares.

As published in a research note from DA Davidson on February 16, 2023, Planet Fitness Inc. [PLNT] has been rated down from a Buy to a Neutral. Analysts at Piper Sandler upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in late October. As of September 26, 2022, Raymond James has increased its “Mkt perform” rating to a “Strong buy” for PLNT. Earlier on July 07, 2022, Exane BNP Paribas upgraded its rating. Their new recommendation was “a Neutral” for PLNT stock which previously was a “an Underperform”.

Analyzing PLNT Stock Performance

On Thursday, Planet Fitness Inc. [NYSE: PLNT] rose 5.28% to $83.29. The stock’s lowest price that day was $79.11, but it reached a high of $84.00 in the same session. During the last five days, there has been a drop of approximately -1.06%. Over the course of the year, Planet Fitness Inc. shares have jumped approximately 5.70%. Shares of the company reached a 52-week high of $85.90 on 02/02/23 and a 52-week low of $75.93 on 02/21/23. A 50-day SMA is recorded $80.38, while a 200-day SMA reached $72.37. Nevertheless, trading volume fell to 2.04 million shares from 1.95 million shares the previous day.

Support And Resistance Levels for Planet Fitness Inc. (PLNT)

According to the 24-hour chart, there is a support level at 80.27, which, if violated, would cause prices to drop to 77.24. In the upper region, resistance lies at 85.16. The next price resistance is at 87.02. RSI (Relative Strength Index) is 55.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.67, which suggests the price will decrease in the coming days. Percent R is at 15.69%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Planet Fitness Inc. subject to short interest?

Stocks of Planet Fitness Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.22 million shares to 3.78 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 4.0 million shares. A decline of -5.82% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.59 of the overall float, the days-to-cover ratio (short ratio) decline to 3.59.

Which companies own the most shares of Planet Fitness Inc. (PLNT)?

According to The Vanguard Group, Inc. filings, the company currently owns 7,557,965 shares, which is about 9.06% of the total PLNT shares outstanding. The investor’s shares have appreciated by 158,617 from its previous 13-F filing of 7399348.0 shares. BlackRock Advisors LLC reduced a -7.86% interest valued at $376.69 million while BlackRock Fund Advisors purchased a 155,140 stake. A total of -209,477 shares of Planet Fitness Inc. were bought by AllianceBernstein LP during the quarter, and -288,273 were sold by JPMorgan Investment Management, I. In its current portfolio, William Blair Investment Manageme holds 2,473,818 shares valued at $209.41 million.

In terms of Planet Fitness Inc. share price expectations, FactSet research, analysts set an average price target of $95.29 in the next 12 months, up nearly 16.93% from the previous closing price of $79.11. Analysts anticipate Planet Fitness Inc. stock to reach $115.00 by 2023, with the lowest price target being $80.00. In spite of this, 15 analysts ranked Planet Fitness Inc. stock as a Buy at the end of 2023. On May 11, 2022, JP Morgan assigned a price target of “an Overweight” to the stock and upgraded coverage with a $90.


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