Quinn Opportunity Partners LLC Decreases Stake in Peloton Interactive, Inc. $PTON

Quinn Opportunity Partners LLC lowered its position in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 30.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,746,449 shares of the company’s stock after selling 2,464,006 shares during the period. Peloton Interactive accounts for about 3.7% of Quinn Opportunity Partners LLC’s holdings, making the stock its 3rd biggest position. Quinn Opportunity Partners LLC owned 1.41% of Peloton Interactive worth $51,718,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Peloton Interactive by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 38,636,291 shares of the company’s stock valued at $347,727,000 after acquiring an additional 811,585 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Peloton Interactive by 325.5% during the 3rd quarter. Voya Investment Management LLC now owns 429,929 shares of the company’s stock valued at $3,869,000 after buying an additional 328,894 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Peloton Interactive by 322.9% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,563,249 shares of the company’s stock worth $14,069,000 after acquiring an additional 1,193,597 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Peloton Interactive during the 3rd quarter valued at about $2,429,000. Finally, Geode Capital Management LLC raised its holdings in shares of Peloton Interactive by 5.7% during the 2nd quarter. Geode Capital Management LLC now owns 9,141,542 shares of the company’s stock valued at $63,450,000 after buying an additional 490,353 shares in the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Peloton Interactive Stock Performance

Peloton Interactive stock opened at $3.71 on Friday. Peloton Interactive, Inc. has a fifty-two week low of $3.65 and a fifty-two week high of $9.20. The stock’s 50 day simple moving average is $5.06 and its two-hundred day simple moving average is $6.50. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -28.54, a PEG ratio of 0.75 and a beta of 2.47.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.24) earnings per share. On average, analysts predict that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PTON. Bank of America set a $9.00 price objective on Peloton Interactive in a research note on Friday, January 30th. Argus cut Peloton Interactive from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th. Truist Financial reduced their price target on Peloton Interactive from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. JPMorgan Chase & Co. lowered their price objective on Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Finally, Zacks Research cut shares of Peloton Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.42.

Insider Activity at Peloton Interactive

In related news, insider Dion C. Sanders sold 146,844 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $4.41, for a total value of $647,582.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Elizabeth F. Coddington sold 238,013 shares of Peloton Interactive stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $4.18, for a total value of $994,894.34. Following the transaction, the chief financial officer owned 346,535 shares of the company’s stock, valued at $1,448,516.30. The trade was a 40.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,074,910 shares of company stock worth $5,113,049 over the last 90 days. 1.30% of the stock is currently owned by insiders.

Peloton Interactive Company Profile

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.