DNB Asset Management AS Buys 6,331,510 Shares of Peloton Interactive, Inc. $PTON

DNB Asset Management AS raised its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 142.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,776,627 shares of the company’s stock after purchasing an additional 6,331,510 shares during the period. DNB Asset Management AS’s holdings in Peloton Interactive were worth $66,384,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PTON. Advisory Services Network LLC acquired a new position in shares of Peloton Interactive in the 3rd quarter valued at about $48,000. Quarry LP acquired a new stake in Peloton Interactive during the third quarter worth approximately $71,000. Rakuten Securities Inc. grew its stake in Peloton Interactive by 163.9% during the fourth quarter. Rakuten Securities Inc. now owns 11,951 shares of the company’s stock worth $74,000 after purchasing an additional 7,422 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in Peloton Interactive during the second quarter worth approximately $74,000. Finally, LVW Advisors LLC acquired a new stake in Peloton Interactive during the fourth quarter worth approximately $83,000. 77.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Saqib Baig sold 15,000 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $5.50, for a total value of $82,500.00. Following the completion of the sale, the chief financial officer directly owned 199,059 shares of the company’s stock, valued at $1,094,824.50. The trade was a 7.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elizabeth F. Coddington sold 21,819 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $3.87, for a total value of $84,439.53. Following the completion of the sale, the chief financial officer directly owned 346,535 shares of the company’s stock, valued at $1,341,090.45. The trade was a 5.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 949,584 shares of company stock worth $4,048,638 over the last three months. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

PTON has been the subject of several recent analyst reports. Telsey Advisory Group decreased their target price on Peloton Interactive from $8.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday, February 6th. Argus cut Peloton Interactive from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Zacks Research cut Peloton Interactive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Wall Street Zen raised Peloton Interactive from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Citigroup decreased their target price on Peloton Interactive from $8.25 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8.25.

Peloton Interactive Price Performance

Shares of Peloton Interactive stock opened at $5.29 on Friday. Peloton Interactive, Inc. has a one year low of $3.65 and a one year high of $9.20. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 132.28, a PEG ratio of 0.95 and a beta of 2.50. The business has a 50-day simple moving average of $4.64 and a 200 day simple moving average of $5.56.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Peloton Interactive had a net margin of 0.94% and a negative return on equity of 6.95%. The firm had revenue of $630.90 million during the quarter, compared to the consensus estimate of $618.25 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts expect that Peloton Interactive, Inc. will post 0.12 EPS for the current year.

About Peloton Interactive

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.