Peloton Interactive, Inc. (NASDAQ:PTON) Position Increased by PDT Partners LLC

PDT Partners LLC boosted its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 0.7% in the third quarter, HoldingsChannel reports. The firm owned 205,573 shares of the company’s stock after purchasing an additional 1,373 shares during the quarter. PDT Partners LLC’s holdings in Peloton Interactive were worth $962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Peloton Interactive during the third quarter valued at $5,724,000. Gtcr LLC bought a new position in Peloton Interactive in the 3rd quarter worth about $65,520,000. Select Equity Group L.P. acquired a new stake in shares of Peloton Interactive in the second quarter valued at approximately $1,832,000. Versor Investments LP bought a new stake in shares of Peloton Interactive during the third quarter valued at approximately $415,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Peloton Interactive by 253.7% during the second quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company’s stock worth $614,000 after buying an additional 130,242 shares during the period. 77.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Roth Mkm raised their target price on Peloton Interactive from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley lifted their price objective on shares of Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Robert W. Baird increased their target price on shares of Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. TD Cowen boosted their price target on shares of Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Finally, Telsey Advisory Group increased their price objective on shares of Peloton Interactive from $5.00 to $9.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.75.

Peloton Interactive Stock Performance

Peloton Interactive stock opened at $10.34 on Monday. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -9.66 and a beta of 1.93. Peloton Interactive, Inc. has a 1 year low of $2.70 and a 1 year high of $10.39. The firm’s 50 day moving average price is $6.72 and its two-hundred day moving average price is $4.79.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The company had revenue of $586.00 million during the quarter, compared to analyst estimates of $572.97 million. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.44) EPS. As a group, equities analysts predict that Peloton Interactive, Inc. will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Andrew S. Rendich sold 138,391 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.51, for a total value of $1,039,316.41. Following the completion of the sale, the insider now owns 287,973 shares in the company, valued at $2,162,677.23. This represents a 32.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Elizabeth F. Coddington sold 56,084 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.50, for a total value of $252,378.00. Following the completion of the sale, the chief financial officer now directly owns 186,466 shares of the company’s stock, valued at approximately $839,097. This trade represents a 23.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 506,517 shares of company stock valued at $3,524,339. 1.34% of the stock is owned by corporate insiders.

About Peloton Interactive

Peloton Interactive, Inc operates interactive fitness platform in North America and internationally. The company offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row names.