Assenagon Asset Management S.A. Reduces Stock Position in Peloton Interactive, Inc. $PTON

Key Points

• Assenagon Asset Management S.A. reduced its stock position in Peloton Interactive, Inc. by 67.5%, holding 114,834 shares worth $797,000 after selling 238,446 shares in Q2.
• Several institutional investors, including Cetera Investment Advisers and Federated Hermes, have increased their positions in Peloton, which indicates ongoing interest despite Assenagon's sell-off.
• Peloton's stock recently opened at $8.56, with a significant performance history showing a 1-year low of $4.25 and a high of $10.90.

Assenagon Asset Management S.A. cut its holdings in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 67.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,834 shares of the company's stock after selling 238,446 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Peloton Interactive were worth $797,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Cetera Investment Advisers grew its position in shares of Peloton Interactive by 9.1% in the 4th quarter. Cetera Investment Advisers now owns 17,144 shares of the company's stock worth $149,000 after acquiring an additional 1,432 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Peloton Interactive by 0.3% in the 1st quarter. Federated Hermes Inc. now owns 533,820 shares of the company's stock worth $3,374,000 after acquiring an additional 1,643 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Peloton Interactive by 4.4% in the 1st quarter. Victory Capital Management Inc. now owns 43,944 shares of the company's stock worth $278,000 after acquiring an additional 1,860 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Peloton Interactive by 40.2% in 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, Wealthfront Advisers LLC grew its position in shares of Peloton Interactive by 11.3% in the 1st quarter. Wealthfront Advisers LLC now owns 18,463 shares of the company's stock worth $117,000 after acquiring an additional 1,877 shares in the last quarter. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jennifer Cunningham Cotter sold 110,235 shares of the company's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $8.05, for a total value of $887,391.75. Following the completion of the sale, the insider owned 100,269 shares in the company, valued at $807,165.45. This represents a 52.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Charles Peter Kirol sold 8,969 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $8.00, for a total value of $71,752.00. Following the completion of the sale, the chief operating officer owned 23,321 shares of the company's stock, valued at approximately $186,568. This trade represents a 27.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,842,992 shares of company stock valued at $14,694,447. 1.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PTON. Macquarie upped their price objective on Peloton Interactive from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Morgan Stanley upped their price objective on Peloton Interactive from $4.00 to $5.75 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. UBS Group upgraded Peloton Interactive from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $7.50 to $11.00 in a research note on Wednesday, July 30th. Needham & Company LLC restated a "hold" rating on shares of Peloton Interactive in a research note on Thursday, August 7th. Finally, Truist Financial set a $11.00 price objective on Peloton Interactive in a research note on Thursday, August 7th. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.29.

Peloton Interactive Stock Performance

NASDAQ:PTON opened at $8.56 on Friday. Peloton Interactive, Inc. has a 1 year low of $4.25 and a 1 year high of $10.90. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of -27.61, a PEG ratio of 3.29 and a beta of 2.07. The business has a fifty day moving average of $7.63 and a 200-day moving average of $6.89.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. The firm had revenue of $606.90 million during the quarter, compared to analyst estimates of $580.29 million. The company's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) EPS. Peloton Interactive has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Peloton Interactive, Inc. will post -0.36 EPS for the current 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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