Concurrent Investment Advisors LLC Invests $510,000 in 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 disclosure with the Securities and Exchange Commission. The firm purchased 80,627 shares of the company's stock, valued at approximately $510,000.

Several other large investors also recently added to or reduced their stakes in the stock. Townsquare Capital LLC boosted its holdings in shares of Peloton Interactive by 6.5% in the fourth quarter. Townsquare Capital LLC now owns 19,280 shares of the company's stock valued at $168,000 after purchasing an additional 1,172 shares during the period. Comerica Bank grew its holdings in Peloton Interactive by 29.1% during the 4th quarter. Comerica Bank now owns 6,164 shares of the company's stock worth $54,000 after acquiring an additional 1,389 shares in the last quarter. Cetera Investment Advisers increased its position in Peloton Interactive by 9.1% during the 4th quarter. Cetera Investment Advisers now owns 17,144 shares of the company's stock valued at $149,000 after purchasing an additional 1,432 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Peloton Interactive by 3.8% in the 4th quarter. Victory Capital Management Inc. now owns 42,084 shares of the company's stock valued at $366,000 after purchasing an additional 1,534 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC lifted its position in shares of Peloton Interactive by 2.5% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 79,459 shares of the company's stock worth $691,000 after purchasing an additional 1,951 shares during the period. 77.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 stock was sold at an average price of $6.25, for a total value of $910,137.50. Following the sale, the insider directly owned 235,439 shares of the company's stock, valued at approximately $1,471,493.75. This trade represents a 38.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elizabeth F. Coddington sold 38,708 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $6.96, for a total value of $269,407.68. Following the completion of the sale, the chief financial officer owned 294,342 shares of the company's stock, valued at $2,048,620.32. This trade represents a 11.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 555,952 shares of company stock worth $3,556,914 in the last ninety days. Corporate insiders own 1.34% of the company's stock.

Peloton Interactive Trading Down 5.1%

NASDAQ PTON traded down $0.34 on Friday, hitting $6.38. 7,350,713 shares of the company's stock traded hands, compared to its average volume of 15,395,268. The firm has a market capitalization of $2.49 billion, a PE ratio of -14.50 and a beta of 2.11. Peloton Interactive, Inc. has a 1-year low of $2.83 and a 1-year high of $10.90. The firm's 50-day moving average price is $6.79 and its two-hundred day moving average price is $7.21.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its earnings results 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 during the quarter, compared to analysts' expectations of $620.39 million. During the same quarter last year, the business posted ($0.45) earnings per share. The firm's revenue for the quarter was down 13.1% compared to the same quarter last year. On average, research analysts anticipate that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Telsey Advisory Group lowered their target price on Peloton Interactive from $9.00 to $8.00 and set a "market perform" rating for the company in a report on Friday, May 9th. Truist Financial upgraded Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 price objective for the company in a research note on Monday, April 28th. Canaccord Genuity Group raised Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 price objective on the stock in a research report on Friday, March 14th. Bank of America reduced their target price on shares of Peloton Interactive from $11.50 to $9.50 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group decreased their price target on shares of Peloton Interactive from $10.00 to $7.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Peloton Interactive presently has a consensus rating of "Hold" and an average price target 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.