161,700 Shares in Peloton Interactive, Inc. (NASDAQ:PTON) Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp acquired 161,700 shares of Peloton Interactive for approximately $1,022,000 in the first quarter of 2023.
• Peloton's stock ratings have varied, with Telsey Advisory Group setting a price target of $8.00 while Morgan Stanley set a lower target of $4.00, reflecting the uncertainty in the company's performance.
• In its most recent earnings report, Peloton reported a loss of ($0.12) EPS, missing the consensus estimate, while revenue decreased by 13.1% year-over-year.

Alberta Investment Management Corp purchased a new position in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 161,700 shares of the company's stock, valued at approximately $1,022,000.

Other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its stake in Peloton Interactive by 969.6% in the 4th quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company's stock worth $35,000 after buying an additional 3,636 shares during the period. FNY Investment Advisers LLC purchased a new position in Peloton Interactive in the 1st quarter worth about $37,000. Comerica Bank increased its stake in Peloton Interactive by 29.1% in the 4th quarter. Comerica Bank now owns 6,164 shares of the company's stock worth $54,000 after buying an additional 1,389 shares during the period. Nisa Investment Advisors LLC grew its holdings in Peloton Interactive by 40.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company's stock worth $41,000 after acquiring an additional 1,864 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Peloton Interactive by 1,082.5% during the 1st quarter. GAMMA Investing LLC now owns 8,159 shares of the company's stock worth $52,000 after acquiring an additional 7,469 shares in the last quarter. Hedge funds and other institutional investors own 77.01% of the company's stock.

Analysts Set New Price Targets

PTON has been the topic of several recent research reports. Telsey Advisory Group reiterated a "market perform" rating and set a $8.00 target price on shares of Peloton Interactive in a report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $6.60 target price on the stock in a report on Monday, April 14th. The Goldman Sachs Group dropped their target price on shares of Peloton Interactive from $10.00 to $7.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Morgan Stanley dropped their target price on shares of Peloton Interactive from $5.75 to $4.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Finally, Truist Financial upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 target price on the stock in a report on Monday, April 28th. Eleven research analysts have rated the stock with a hold rating and eight have given 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 $8.36.

Peloton Interactive Stock Performance

NASDAQ:PTON opened at $6.60 on Monday. Peloton Interactive, Inc. has a fifty-two week low of $2.83 and a fifty-two week high of $10.90. The stock has a market capitalization of $2.57 billion, a P/E ratio of -15.00 and a beta of 2.08. The company's 50-day simple moving average is $6.74 and its 200-day simple moving average is $6.93.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $624.00 million for the quarter, compared to analysts' expectations of $620.39 million. The firm's revenue was down 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.45) earnings per share. On average, research analysts forecast that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Insider Transactions at Peloton Interactive

In related news, insider Jennifer Cunningham Cotter sold 145,622 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.25, for a total value of $910,137.50. Following the completion of the transaction, the insider directly owned 235,439 shares of the company's stock, valued at $1,471,493.75. This trade represents a 38.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nick V. Caldwell sold 63,925 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $6.99, for a total transaction of $446,835.75. Following the completion of the transaction, the insider directly owned 578,668 shares of the company's stock, valued at $4,044,889.32. The trade was a 9.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 576,585 shares of company stock worth $3,688,758 over the last ninety days. 1.34% of the stock is currently owned by insiders.

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.

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