Concurrent Investment Advisors LLC Purchases Shares of 80,627 Peloton Interactive, Inc. (NASDAQ:PTON)

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

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in shares of Peloton Interactive by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 988,547 shares of the company's stock valued at $6,248,000 after buying an additional 17,584 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of Peloton Interactive during the first quarter valued at approximately $431,000. Vontobel Holding Ltd. boosted its position in shares of Peloton Interactive by 327.3% during the first quarter. Vontobel Holding Ltd. now owns 87,453 shares of the company's stock valued at $553,000 after buying an additional 66,985 shares during the period. Jaffetilchin Investment Partners LLC boosted its position in shares of Peloton Interactive by 22.8% during the first quarter. Jaffetilchin Investment Partners LLC now owns 53,829 shares of the company's stock valued at $340,000 after buying an additional 9,991 shares during the period. Finally, Diversified Trust Co purchased a new position in shares of Peloton Interactive during the first quarter valued at approximately $391,000. 77.01% of the stock is owned by institutional investors.

Peloton Interactive Stock Up 0.9%

Shares of Peloton Interactive stock traded up $0.06 during mid-day trading on Monday, hitting $6.44. The stock had a trading volume of 8,522,453 shares, compared to its average volume of 15,366,763. The firm has a 50-day moving average of $6.79 and a two-hundred day moving average of $7.17. Peloton Interactive, Inc. has a 12-month low of $2.83 and a 12-month high of $10.90. The firm has a market cap of $2.51 billion, a P/E ratio of -14.64 and a beta of 2.11.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted 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 analysts' expectations of $620.39 million. The business's revenue for the quarter 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. Sell-side analysts expect that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, insider Jennifer Cunningham Cotter sold 145,622 shares of the firm's 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 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 filing with the SEC, which is available at this link. Also, insider Nick V. Caldwell sold 63,925 shares of the firm's 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. This represents a 9.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 555,952 shares of company stock worth $3,556,914. Company insiders own 1.34% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PTON. Deutsche Bank Aktiengesellschaft raised shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $6.60 price objective for the company in a research note on Monday, April 14th. Bank of America reduced 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 note on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price target on Peloton Interactive from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Telsey Advisory Group reduced their price target on Peloton Interactive from $9.00 to $8.00 and set a "market perform" rating on the stock in a research report on Friday, May 9th. Finally, Macquarie raised shares of Peloton Interactive from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $9.00 to $10.00 in a report on Tuesday, May 13th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $8.30.

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.