Zacks Investment Management Buys Shares of 83,123 Peloton Interactive, Inc. (NASDAQ:PTON)

Zacks Investment Management acquired a new stake in Peloton Interactive, Inc. (NASDAQ:PTON) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 83,123 shares of the company’s stock, valued at approximately $723,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. purchased a new stake in shares of Peloton Interactive during the fourth quarter worth about $85,260,000. Assenagon Asset Management S.A. purchased a new position in shares of Peloton Interactive during the 4th quarter worth $39,992,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Peloton Interactive by 245.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,227,854 shares of the company’s stock worth $36,782,000 after purchasing an additional 3,004,757 shares during the last quarter. Renaissance Technologies LLC increased its stake in Peloton Interactive by 59.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,833,700 shares of the company’s stock valued at $50,753,000 after purchasing an additional 2,176,400 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Peloton Interactive by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 35,059,790 shares of the company’s stock worth $305,020,000 after buying an additional 1,645,640 shares during the period. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Peloton Interactive Stock Down 4.1 %

Shares of NASDAQ PTON opened at $5.39 on Friday. Peloton Interactive, Inc. has a fifty-two week low of $2.70 and a fifty-two week high of $10.90. The business has a 50 day moving average price of $6.85 and a two-hundred day moving average price of $7.67. The firm has a market cap of $2.10 billion, a PE ratio of -7.00 and a beta of 2.21.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). On average, analysts anticipate that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Insider Transactions at Peloton Interactive

In related news, CAO Saqib Baig sold 22,662 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total transaction of $220,954.50. Following the sale, the chief accounting officer now directly owns 130,031 shares of the company’s stock, valued at approximately $1,267,802.25. This represents a 14.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew S. Rendich sold 121,883 shares of Peloton Interactive stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.54, for a total transaction of $1,162,763.82. Following the completion of the transaction, the insider now directly owns 404,188 shares of the company’s stock, valued at approximately $3,855,953.52. This represents a 23.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 674,338 shares of company stock valued at $5,522,838. Insiders own 1.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PTON. Citigroup cut their price objective on shares of Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Morgan Stanley dropped their price objective on Peloton Interactive from $5.75 to $4.00 and set an “equal weight” rating for the company in a report on Thursday. JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a report on Monday, April 14th. Argus upgraded Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a report on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.54.

Peloton Interactive Profile

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.