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    Amendment: SEC Form SC 13G/A filed by Planet Fitness Inc.

    11/13/24 7:31:03 PM ET
    $PLNT
    Hotels/Resorts
    Consumer Discretionary
    Get the next $PLNT alert in real time by email
    SC 13G/A 1 form_sc13ga-planet.htm

    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    WASHINGTON, DC 20549

    SCHEDULE 13G

    Under the Securities Exchange Act of 1934
    (Amendment No. 1)*

    Planet Fitness, Inc.
    (Name of Issuer)

    Class A Common Stock, par value $0.0001 per share
    (Title of Class of Securities)

    72703H101
    (CUSIP Number)

    September 30, 2024
    (Date of Event Which Requires Filing of this Statement)

    Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
     
    [X]  Rule 13d-1(b)

    [_]  Rule 13d-1(c)

    [_]  Rule 13d-1(d)

    __________
    *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
     
    The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
     


    CUSIP No.
    72703H101
     
     
     
     
     
    1.
    NAME OF REPORTING PERSONS
     
     
     
     
     
    Cadian Capital Management, LP
     
     
     
     
    2.
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
     
     (a)  [_]
     
     
     (b)  [_]
     
     
     
     
    3.
    SEC USE ONLY
     
     
     
     
     
     
     
     
     
     
    4.
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
     
     
     
     
    Delaware
     
     
     
     
    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
     
     
     
    5.
    SOLE VOTING POWER
     
     
     
     
     
    0
     
     
     
     
    6.
    SHARED VOTING POWER
     
     
     
     
     
    1,468,563
     
     
     
     
    7.
    SOLE DISPOSITIVE POWER
     
     
     
     
     
    0
     
     
     
     
    8.
    SHARED DISPOSITIVE POWER
     
     
     
     
     
    1,468,563
     
     
     
     
    9.
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
     
     
     
    1,468,563
     
     
     
     
    10.
    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
     
     
     [_]
     
     
     
     
     
     
     
    11.
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
     
     
     
     
    1.7% (1)
     
     
     
     
    12.
    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
     
    IA, PN
     

    (1) Based on 84,180,623 shares of Class A Common Stock of Planet Fitness, Inc. (the “Issuer”) outstanding as of November 1, 2024, as disclosed in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on November 7, 2024.



    CUSIP No.
    72703H101
     
     
     
     
     
    1.
    NAME OF REPORTING PERSONS
     
     
     
     
     
    Cadian Capital Management GP, LLC
     
     
     
     
    2.
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
     
     (a)  [_]
     
     
     (b)  [_]
     
     
     
     
    3.
    SEC USE ONLY
     
     
     
     
     
     
     
     
     
     
    4.
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
     
     
     
     
    Delaware
     
     
     
     
    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
     
     
     
    5.
    SOLE VOTING POWER
     
     
     
     
     
    0
     
     
     
     
    6.
    SHARED VOTING POWER
     
     
     
     
     
    1,468,563
     
     
     
     
    7.
    SOLE DISPOSITIVE POWER
     
     
     
     
     
    0
     
     
     
     
    8.
    SHARED DISPOSITIVE POWER
     
     
     
     
     
    1,468,563
     
     
     
     
    9.
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
     
     
     
    1,468,563
     
     
     
     
    10.
    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
     
     
     [_]
     
     
     
     
     
     
     
    11.
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
     
     
     
     
    1.7% (1)
     
     
     
     
    12.
    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
     
    OO, HC
     
     
    (1) Based on 84,180,623 shares of Class A Common Stock of the Issuer outstanding as of November 1, 2024, as disclosed in the Issuer’s Form 10-Q filed with the SEC on November 7, 2024.



    CUSIP No.
    72703H101
     
     
     
     
     
    1.
    NAME OF REPORTING PERSONS
     
     
     
     
     
    Eric Bannasch
     
     
     
     
    2.
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
     
     (a)  [_]
     
     
     (b)  [_]
     
     
     
     
    3.
    SEC USE ONLY
     
     
     
     
     
     
     
     
     
     
    4.
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
     
     
     
     
    United States of America
     
     
     
     
    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
     
     
     
    5.
    SOLE VOTING POWER
     
     
     
     
     
    0
     
     
     
     
    6.
    SHARED VOTING POWER
     
     
     
     
     
    1,468,563
     
     
     
     
    7.
    SOLE DISPOSITIVE POWER
     
     
     
     
     
    0
     
     
     
     
    8.
    SHARED DISPOSITIVE POWER
     
     
     
     
     
    1,468,563
     
     
     
     
    9.
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
     
     
     
    1,468,563
     
     
     
     
    10.
    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
     
     
     [_]
     
     
     
     
     
     
     
    11.
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
     
     
     
     
    1.7% (1)
     
     
     
     
    12.
    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
     
    IN, HC
     
     
    (1) Based on 84,180,623 shares of Class A Common Stock of the Issuer outstanding as of November 1, 2024, as disclosed in the Issuer’s Form 10-Q filed with the SEC on November 7, 2024.



    CUSIP No.
    72703H101
     
     

    Item 1.
    (a).
    Name of Issuer:
     
     
     
     
    Planet Fitness, Inc. (the "Issuer")
     

     
    (b).
    Address of Issuer's Principal Executive Offices:
     
     
     
     
    4 Liberty Lane West
    Hampton, New Hampshire 03842
     

    Item 2.
    (a).
    Name of Person Filing:
     
     
     
     
     
     
     
    Cadian Capital Management, LP
    Cadian Capital Management GP, LLC
    Eric Bannasch
     
    The filing persons named above are collectively referred to herein as the "Reporting Persons."
     

     
    (b).
    Address of Principal Business Office, or if None, Residence:
     
     
     
     
    Cadian Capital Management, LP
    535 Madison Avenue
    36th Floor
    New York, NY 10022
     
    Cadian Capital Management GP, LLC
    535 Madison Avenue
    36th Floor
    New York, NY 10022
     
    Eric Bannasch
    535 Madison Avenue
    36th Floor
    New York, NY 10022
     
     
     
     
     

     
    (c).
    Citizenship:
     
     
     
     
    Cadian Capital Management, LP – Delaware
    Cadian Capital Management GP, LLC – Delaware
    Eric Bannasch – United States of America
     

     
    (d).
    Title of Class of Securities:
     
     
     
     
     
     
     
    Class A Common Stock, par value $0.0001 per share ("Class A Common Stock")
     

     
    (e).
    CUSIP No.:
     
     
     
     
    72703H101
     




    Item 3.
     
    If This Statement is filed pursuant to Rule 13d-1(b) or Rule 13d-2(b) or (c), check whether the person filing is a:

     
    (a)
    [_]
    Broker or dealer registered under Section 15 of the Exchange Act (15 U.S.C. 78o).

     
    (b)
    [_]
    Bank as defined in Section 3(a)(6) of the Exchange Act (15 U.S.C. 78c).

     
    (c)
    [_]
    Insurance company as defined in Section 3(a)(19) of the Exchange Act (15 U.S.C. 78c).

     
    (d)
    [_]
    Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

     
    (e)
    [X]
    An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
     
     
    (f)
    [_]
    An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);

     
    (g)
    [X]
    A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);

     
    (h)
    [_]
    A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C.1813);

     
    (i)
    [_]
    A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

     
    (j)
    [_]
    A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J);

     
    (k)
    [_]
    Group, in accordance with Rule 13d-1(b)(1)(ii)(K).

    If filing as a non-US institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution:  ______________.

     
    Item 4.
    Ownership.

     
    Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

     
    (a)
    Amount beneficially owned:
     
     
     
     
     
    Cadian Capital Management, LP – 1,468,563
    Cadian Capital Management GP, LLC – 1,468,563
    Eric Bannasch – 1,468,563

     
    (b)
    Percent of class:
     
     
     
     
     
    Cadian Capital Management, LP – 1.7%
    Cadian Capital Management GP, LLC – 1.7%
    Eric Bannasch – 1.7%
     
    Such percentages are based on 84,180,623 shares of Class A Common Stock outstanding as of November 1, 2024, as disclosed in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission on November 7, 2024.

     
    (c)
    Number of shares as to which the person has:



     
     
    Cadian Capital Management, LP

     
     
    (i)
    Sole power to vote or to direct the vote
    0
    ,
     
     
     
     
     
     
     
    (ii)
    Shared power to vote or to direct the vote
    1,468,563
    ,
     
     
     
     
     
     
     
    (iii)
    Sole power to dispose or to direct the disposition of
    0
    ,
     
     
     
     
     
     
     
    (iv)
    Shared power to dispose or to direct the disposition of
    1,468,563
    .
     
     
     
     
     

     
     
    Cadian Capital Management GP, LLC

     
     
    (i)
    Sole power to vote or to direct the vote
    0
    ,
     
     
     
     
     
     
     
    (ii)
    Shared power to vote or to direct the vote
    1,468,563
    ,
     
     
     
     
     
     
     
    (iii)
    Sole power to dispose or to direct the disposition of
    0
    ,
     
     
     
     
     
     
     
    (iv)
    Shared power to dispose or to direct the disposition of
    1,468,563
    .
     
     
     
     
     

     
     
    Eric Bannasch
     
     
     
     
     
    (i)
    Sole power to vote or to direct the vote
    0
    ,
     
     
     
     
     
     
     
    (ii)
    Shared power to vote or to direct the vote
    1,468,563
    ,
     
     
     
     
     
     
     
    (iii)
    Sole power to dispose or to direct the disposition of
    0
    ,
     
     
     
     
     
     
     
    (iv)
    Shared power to dispose or to direct the disposition of
    1,468,563
    .

    All securities reported in this Schedule 13G are directly held by Cadian Master Fund L.P. and Cadian Opportunities Master Fund LP (collectively, the "Advisory Clients"), advisory clients of Cadian Capital Management, LP (the "Adviser").  Pursuant to Investment Management Agreements, as amended, between the Advisory Clients and the Adviser, the Adviser exercises exclusive voting and investment power over securities directly held by the Advisory Clients.  Cadian Capital Management GP, LLC is the general partner of the Adviser.  Eric Bannasch is the sole managing member of Cadian Capital Management GP, LLC.
     
    Item 5.
    Ownership of Five Percent or Less of a Class.

     
    If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X].
     

    Item 6.
    Ownership of More Than Five Percent on Behalf of Another Person.

     
    If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than five percent of the class, such person should be identified.  A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
     
     
     
    All securities reported in this Schedule 13G are directly held by Advisory Clients.
     
     



    Item 7.
    Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

     
    If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary.  If a parent holding company or control person has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
     
     
    The disclosure regarding the relationships among the Reporting Persons in Item 4 is incorporated by reference herein.
     
     

    Item 8.
    Identification and Classification of Members of the Group.
     
     
    If a group has filed this schedule pursuant to Rule 13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group.  If a group has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identity of each member of the group.
     
     
     
    N/A
     
     

    Item 9.
    Notice of Dissolution of Group.

     
    Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity.  See Item 5.
     
     
    N/A

     
    Item 10.
     
    Certification.

     
    By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
     



    SIGNATURE

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
     

     
    November 13, 2024
     
    (Date)

     
     
     
    Cadian Capital Management, LP
     
     
    By: Cadian Capital Management GP, LLC, its General Partner
     
     
    By:  /s/ Eric Bannasch
     
    Eric Bannasch
     
    Managing Member
     
     
    Cadian Capital Management GP, LLC 
     
     
    By:  /s/ Eric Bannasch
     
    Eric Bannasch
     
    Managing Member
     
     
     
    /s/  Eric Bannasch
     
    Eric Bannasch

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      HAMPTON, N.H., Oct. 24, 2024 /PRNewswire/ -- Planet Fitness, Inc. (NYSE:PLNT) (the "Company"), today announced that the Company will report results for its third quarter ended September 30, 2024, before the market opens on Thursday, November 7, 2024. The Company will discuss its third quarter financial results on a conference call scheduled at 8:00 a.m. Eastern Time on the same day. A live webcast of the conference call will be available at http://investor.planetfitness.com. Investors may also obtain a dial-in number and passcode by following the pre-registration link: https://registrations.events/direct/Q4I784977403. For those unable to participate in the live call, a digital recording will

      10/24/24 8:00:00 AM ET
      $PLNT
      Hotels/Resorts
      Consumer Discretionary

    $PLNT
    Insider Trading

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    • Director Acoca Bernard was granted 1,451 shares, increasing direct ownership by 26% to 7,131 units (SEC Form 4)

      4 - Planet Fitness, Inc. (0001637207) (Issuer)

      5/8/25 4:26:46 PM ET
      $PLNT
      Hotels/Resorts
      Consumer Discretionary
    • Director Benson Craig R was granted 1,451 shares, increasing direct ownership by 8% to 19,309 units (SEC Form 4)

      4 - Planet Fitness, Inc. (0001637207) (Issuer)

      5/8/25 4:26:09 PM ET
      $PLNT
      Hotels/Resorts
      Consumer Discretionary
    • Director Tanco Christopher was granted 1,451 shares, increasing direct ownership by 14% to 11,888 units (SEC Form 4)

      4 - Planet Fitness, Inc. (0001637207) (Issuer)

      5/8/25 4:26:22 PM ET
      $PLNT
      Hotels/Resorts
      Consumer Discretionary

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    SEC Filings

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    • Planet Fitness Inc. filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

      8-K - Planet Fitness, Inc. (0001637207) (Filer)

      5/9/25 4:19:04 PM ET
      $PLNT
      Hotels/Resorts
      Consumer Discretionary
    • SEC Form 10-Q filed by Planet Fitness Inc.

      10-Q - Planet Fitness, Inc. (0001637207) (Filer)

      5/9/25 4:16:52 PM ET
      $PLNT
      Hotels/Resorts
      Consumer Discretionary
    • Planet Fitness Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - Planet Fitness, Inc. (0001637207) (Filer)

      5/8/25 6:30:20 AM ET
      $PLNT
      Hotels/Resorts
      Consumer Discretionary

    $PLNT
    Analyst Ratings

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    • Canaccord Genuity initiated coverage on Planet Fitness with a new price target

      Canaccord Genuity initiated coverage of Planet Fitness with a rating of Buy and set a new price target of $120.00

      3/13/25 8:19:35 AM ET
      $PLNT
      Hotels/Resorts
      Consumer Discretionary
    • Planet Fitness downgraded by Macquarie with a new price target

      Macquarie downgraded Planet Fitness from Outperform to Neutral and set a new price target of $99.00 from $91.00 previously

      11/8/24 8:23:50 AM ET
      $PLNT
      Hotels/Resorts
      Consumer Discretionary
    • Deutsche Bank initiated coverage on Planet Fitness with a new price target

      Deutsche Bank initiated coverage of Planet Fitness with a rating of Hold and set a new price target of $71.00

      9/27/24 7:42:54 AM ET
      $PLNT
      Hotels/Resorts
      Consumer Discretionary

    $PLNT
    Insider Purchases

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    • Benson Craig R bought $681,464 worth of shares (10,000 units at $68.15) (SEC Form 4)

      4 - Planet Fitness, Inc. (0001637207) (Issuer)

      12/12/23 8:58:27 AM ET
      $PLNT
      Hotels/Resorts
      Consumer Discretionary