Brevan Howard Capital Management LP Grows Position in Peloton Interactive, Inc. (NASDAQ:PTON)

Brevan Howard Capital Management LP raised its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 114.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 237,410 shares of the company's stock after purchasing an additional 126,871 shares during the period. Brevan Howard Capital Management LP owned approximately 0.06% of Peloton Interactive worth $2,065,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Townsquare Capital LLC lifted its position in shares of Peloton Interactive by 6.5% during the 4th quarter. Townsquare Capital LLC now owns 19,280 shares of the company's stock worth $168,000 after buying an additional 1,172 shares in the last quarter. Comerica Bank lifted its holdings in Peloton Interactive by 29.1% during the fourth quarter. Comerica Bank now owns 6,164 shares of the company's stock worth $54,000 after acquiring an additional 1,389 shares during the period. Victory Capital Management Inc. boosted its position in Peloton Interactive by 3.8% in the fourth quarter. Victory Capital Management Inc. now owns 42,084 shares of the company's stock worth $366,000 after purchasing an additional 1,534 shares during the last quarter. Choreo LLC raised its stake in shares of Peloton Interactive by 12.3% during the 4th quarter. Choreo LLC now owns 16,832 shares of the company's stock worth $150,000 after purchasing an additional 1,838 shares during the period. Finally, Counterpoint Mutual Funds LLC grew its position in Peloton Interactive by 2.5% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 79,459 shares of the company's stock valued at $691,000 after buying an additional 1,951 shares during the period. 77.01% of the stock is owned by institutional investors.

Peloton Interactive Stock Down 5.4 %

PTON traded down $0.35 during midday trading on Friday, hitting $6.16. 22,595,787 shares of the company traded hands, compared to its average volume of 15,611,064. The company's 50-day moving average is $6.20 and its 200 day moving average is $7.80. The firm has a market capitalization of $2.40 billion, a PE ratio of -8.00 and a beta of 2.25. Peloton Interactive, Inc. has a 52 week low of $2.83 and a 52 week high of $10.90.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The firm had revenue of $624.00 million during the quarter, compared to analysts' expectations of $620.39 million. Peloton Interactive's revenue for the quarter was down 13.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.45) earnings per share. On average, sell-side analysts predict that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

PTON has been the topic of a number of research reports. Bank of America lowered their price target on shares of Peloton Interactive from $11.50 to $9.50 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Argus upgraded Peloton Interactive from a "hold" rating to a "buy" rating and set a $15.00 price target for the company in a research note on Tuesday, February 11th. Needham & Company LLC reaffirmed a "hold" rating on shares of Peloton Interactive in a report on Friday. Telsey Advisory Group lowered their price target on shares of Peloton Interactive from $11.00 to $9.00 and set a "market perform" rating on the stock in a research report on Monday, May 5th. Finally, Citigroup dropped their target price on Peloton Interactive from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. Fourteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Peloton Interactive has an average rating of "Hold" and an average price target of $8.30.

Insider Buying and Selling

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

About Peloton Interactive

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.