Federated Hermes Inc. Buys New Position in Peloton Interactive, Inc. (NASDAQ:PTON)

Federated Hermes Inc. purchased a new stake in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 532,177 shares of the company's stock, valued at approximately $4,630,000. Federated Hermes Inc. owned about 0.14% of Peloton Interactive as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PTON. R Squared Ltd bought a new stake in shares of Peloton Interactive during the fourth quarter worth $28,000. Russell Investments Group Ltd. lifted its holdings in Peloton Interactive by 969.6% in the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company's stock valued at $35,000 after buying an additional 3,636 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Peloton Interactive during the 4th quarter valued at $69,000. C M Bidwell & Associates Ltd. bought a new position in shares of Peloton Interactive in the 4th quarter worth $72,000. Finally, Jones Financial Companies Lllp increased its holdings in Peloton Interactive by 33.9% in the fourth quarter. Jones Financial Companies Lllp now owns 9,496 shares of the company's stock valued at $83,000 after purchasing an additional 2,403 shares during the last quarter. 77.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Canaccord Genuity Group raised shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 price objective on the stock in a research note on Friday, March 14th. Macquarie restated a "neutral" rating and set a $9.00 target price on shares of Peloton Interactive in a report on Monday, February 10th. Telsey Advisory Group reiterated a "market perform" rating and issued a $11.00 price objective on shares of Peloton Interactive in a report on Monday, February 3rd. Bank of America cut their price objective on shares of Peloton Interactive from $11.50 to $9.50 and set a "buy" rating for the company in a research report on Tuesday. Finally, JMP Securities restated a "market perform" rating on shares of Peloton Interactive in a research report on Monday. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $8.59.

Peloton Interactive Stock Performance

NASDAQ:PTON traded down $0.28 during trading on Thursday, reaching $5.34. The company's stock had a trading volume of 4,676,727 shares, compared to its average volume of 14,439,746. Peloton Interactive, Inc. has a 12 month low of $2.70 and a 12 month high of $10.90. The firm has a 50 day moving average of $6.98 and a 200-day moving average of $7.63. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -6.93 and a beta of 2.21.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). Equities research analysts forecast that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Nick V. Caldwell sold 68,727 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $6.59, for a total value of $452,910.93. Following the transaction, the insider now directly owns 474,234 shares in the company, valued at approximately $3,125,202.06. This represents a 12.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the insider now directly owns 404,188 shares of the company's stock, valued at $3,855,953.52. This represents a 23.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 674,338 shares of company stock valued at $5,522,838. Company insiders own 1.34% of the company's stock.

Peloton Interactive Company 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.