80,627 Shares in Peloton Interactive, Inc. (NASDAQ:PTON) Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC acquired a new position in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 80,627 shares of the company's stock, valued at approximately $510,000.

Several other large investors have also recently added to or reduced their stakes in PTON. Bank of New York Mellon Corp lifted its stake in Peloton Interactive by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 970,963 shares of the company's stock worth $8,447,000 after purchasing an additional 19,081 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Peloton Interactive by 33.9% during the fourth quarter. Jones Financial Companies Lllp now owns 9,496 shares of the company's stock worth $83,000 after purchasing an additional 2,403 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Peloton Interactive by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,136,182 shares of the company's stock worth $35,985,000 after purchasing an additional 139,826 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Peloton Interactive by 3.8% during 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. Finally, Raymond James Financial Inc. bought a new position in Peloton Interactive during the fourth quarter worth $1,158,000. 77.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PTON shares. Needham & Company LLC restated a "hold" rating on shares of Peloton Interactive in a research note on Friday, May 9th. Morgan Stanley cut their target price on Peloton Interactive from $5.75 to $4.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Macquarie upgraded Peloton Interactive from a "neutral" rating to an "outperform" rating and raised their target price for the company from $9.00 to $10.00 in a research note on Tuesday, May 13th. Canaccord Genuity Group upgraded Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 target price on the stock in a research note on Friday, March 14th. Finally, Truist Financial upgraded Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 target price on the stock in a research note on Monday, April 28th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Peloton Interactive has an average rating of "Hold" and an average target price of $8.30.

Insider Transactions at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 185,661 shares of Peloton Interactive stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.29, for a total transaction of $1,167,807.69. Following the transaction, the chief financial officer directly owned 311,231 shares of the company's stock, valued at $1,957,642.99. The trade was a 37.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dion C. Sanders sold 122,036 shares of Peloton Interactive stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.25, for a total value of $762,725.00. Following the transaction, the insider directly owned 114,318 shares in the company, valued at approximately $714,487.50. The trade was a 51.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 555,952 shares of company stock valued at $3,556,914 in the last three months. 1.34% of the stock is currently owned by insiders.

Peloton Interactive Stock Up 3.2%

Shares of NASDAQ PTON opened at $6.72 on Friday. Peloton Interactive, Inc. has a fifty-two week low of $2.83 and a fifty-two week high of $10.90. The firm's 50-day simple moving average is $6.80 and its 200 day simple moving average is $7.23. The stock has a market cap of $2.62 billion, a P/E ratio of -15.27 and a beta of 2.11.

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

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.

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