1,100,000 Shares in Peloton Interactive, Inc. $PTON Purchased by Ardmore Road Asset Management LP

Key Points

• Ardmore Road Asset Management LP has acquired a new stake in Peloton Interactive, Inc., purchasing 1.1 million shares valued at approximately $6.95 million during Q1.
• Institutional investors now hold 77.01% of Peloton's stock, with both Vanguard and T. Rowe Price recently increasing their stakes significantly.
• Peloton's stock price opened at $7.60 with a market cap of $3.10 billion, and the company recently reported better-than-expected earnings despite a revenue decline of 5.8% year-over-year.

Ardmore Road Asset Management LP bought a new stake in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,100,000 shares of the company's stock, valued at approximately $6,952,000. Ardmore Road Asset Management LP owned 0.28% of Peloton Interactive at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its position in Peloton Interactive by 29.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 21,760,678 shares of the company's stock worth $137,528,000 after purchasing an additional 4,940,422 shares during the last quarter. Nuveen LLC purchased a new position in Peloton Interactive during the 1st quarter worth $23,239,000. Voloridge Investment Management LLC grew its position in Peloton Interactive by 1,438.9% during the 4th quarter. Voloridge Investment Management LLC now owns 3,109,054 shares of the company's stock worth $27,049,000 after purchasing an additional 2,907,023 shares during the last quarter. Vanguard Group Inc. grew its position in Peloton Interactive by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 37,246,652 shares of the company's stock worth $235,399,000 after purchasing an additional 2,186,862 shares during the last quarter. Finally, Jump Financial LLC grew its position in Peloton Interactive by 236.5% during the 1st quarter. Jump Financial LLC now owns 2,394,660 shares of the company's stock worth $15,134,000 after purchasing an additional 1,683,053 shares during the last quarter. Hedge funds and other institutional investors own 77.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PTON shares. Macquarie raised their price objective on shares of Peloton Interactive from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Thursday, August 14th. The Goldman Sachs Group raised shares of Peloton Interactive from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $7.00 to $11.50 in a research note on Friday, August 8th. Morgan Stanley boosted their price objective on shares of Peloton Interactive from $4.00 to $5.75 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Needham & Company LLC reissued a "hold" rating on shares of Peloton Interactive in a research note on Thursday, August 7th. Finally, UBS Group raised shares of Peloton Interactive from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $7.50 to $11.00 in a research note on Wednesday, July 30th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $9.29.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, insider Dion C. Sanders sold 113,439 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $7.61, for a total transaction of $863,270.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nick V. Caldwell sold 10,477 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $8.00, for a total transaction of $83,816.00. Following the sale, the insider owned 590,284 shares in the company, valued at $4,722,272. The trade was a 1.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 988,357 shares of company stock worth $7,877,396. 1.34% of the stock is currently owned by insiders.

Peloton Interactive Stock Performance

PTON traded up $0.02 during trading on Monday, hitting $7.60. The stock had a trading volume of 17,916,414 shares, compared to its average volume of 14,381,237. The firm has a market capitalization of $3.10 billion, a P/E ratio of -24.52 and a beta of 2.07. The company's 50-day moving average price is $7.08 and its 200 day moving average price is $6.84. Peloton Interactive, Inc. has a twelve month low of $4.19 and a twelve month high of $10.90.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $606.90 million for the quarter, compared to analysts' expectations of $580.29 million. Peloton Interactive's revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Peloton Interactive has set its FY 2025 guidance at EPS. As a group, equities analysts expect 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.