Mutual Advisors LLC lifted its holdings in Peloton Interactive, Inc. (NASDAQ:PTON) by 686.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,450 shares of the company’s stock after purchasing an additional 14,358 shares during the quarter. Mutual Advisors LLC’s holdings in Peloton Interactive were worth $2,040,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of PTON. Korea Investment CORP purchased a new position in Peloton Interactive in the 2nd quarter worth $868,000. Commonwealth Equity Services LLC raised its stake in Peloton Interactive by 4.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 40,454 shares of the company’s stock worth $5,017,000 after acquiring an additional 1,907 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Peloton Interactive by 9.7% in the 2nd quarter. Great West Life Assurance Co. Can now owns 119,990 shares of the company’s stock worth $14,877,000 after acquiring an additional 10,641 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Peloton Interactive in the 2nd quarter worth $87,000. Finally, Mackenzie Financial Corp raised its stake in Peloton Interactive by 93.3% in the 2nd quarter. Mackenzie Financial Corp now owns 83,022 shares of the company’s stock worth $10,296,000 after acquiring an additional 40,076 shares during the last quarter. 72.09% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on PTON. Oppenheimer reduced their price objective on Peloton Interactive from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, August 23rd. Cowen reduced their price objective on Peloton Interactive from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, August 27th. The Goldman Sachs Group began coverage on Peloton Interactive in a research note on Monday, September 13th. They set a “neutral” rating and a $110.00 price objective for the company. Credit Suisse Group reduced their price objective on Peloton Interactive from $151.00 to $148.00 and set an “outperform” rating for the company in a research note on Tuesday, August 24th. Finally, Bank of America upgraded Peloton Interactive from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $135.00 to $138.00 in a research note on Friday, August 27th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $135.67.
Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Wednesday, August 25th. The company reported ($1.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.60). The company had revenue of $937.00 million for the quarter, compared to analyst estimates of $928.64 million. Peloton Interactive had a negative return on equity of 10.11% and a negative net margin of 4.70%. The company’s revenue for the quarter was up 54.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 earnings per share. As a group, research analysts expect that Peloton Interactive, Inc. will post -1.98 EPS for the current fiscal year.
In related news, CAO Allen J. Klingsick sold 501 shares of the company’s stock in a transaction that occurred on Friday, August 20th. The stock was sold at an average price of $109.00, for a total value of $54,609.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jon Callaghan sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $97.22, for a total value of $972,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 734,184 shares of company stock worth $84,487,481. Insiders own 16.50% of the company’s stock.
Peloton Interactive Profile
Peloton Interactive, Inc provides interactive fitness products in North America and internationally. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. The company also provides connected fitness subscriptions for multiple household users, and access to all live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.
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