Bayforest Capital Ltd Grows Position in Peloton Interactive, Inc. $PTON

Key Points

• Bayforest Capital Ltd significantly increased its holdings in Peloton Interactive by purchasing 188,389 shares, bringing its total ownership to 198,790 shares, which now represents approximately 0.5% of its portfolio.
• Peloton Interactive reported quarterly earnings of $0.05 EPS, exceeding analysts' expectations of a loss, and generated $606.90 million in revenue, slightly up from previous estimates.
• Institutional investors own about 77.01% of Peloton's stock, with several hedge funds, including T. Rowe Price and Vanguard Group, increasing their stakes during the 1st quarter.

Bayforest Capital Ltd grew its position in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 1,811.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,790 shares of the company's stock after buying an additional 188,389 shares during the quarter. Peloton Interactive accounts for approximately 0.5% of Bayforest Capital Ltd's holdings, making the stock its 15th biggest holding. Bayforest Capital Ltd owned 0.05% of Peloton Interactive worth $1,256,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PTON. T. Rowe Price Investment Management Inc. increased its position in shares of Peloton Interactive by 29.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 21,760,678 shares of the company's stock valued at $137,528,000 after buying an additional 4,940,422 shares in the last quarter. Nuveen LLC purchased a new position in shares of Peloton Interactive in the first quarter valued at $23,239,000. Voloridge Investment Management LLC increased its position in shares of Peloton Interactive by 1,438.9% in the fourth quarter. Voloridge Investment Management LLC now owns 3,109,054 shares of the company's stock valued at $27,049,000 after buying an additional 2,907,023 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Peloton Interactive by 6.2% in the first quarter. Vanguard Group Inc. now owns 37,246,652 shares of the company's stock valued at $235,399,000 after buying an additional 2,186,862 shares in the last quarter. Finally, Jump Financial LLC increased its position in shares of Peloton Interactive by 236.5% in the first quarter. Jump Financial LLC now owns 2,394,660 shares of the company's stock valued at $15,134,000 after buying an additional 1,683,053 shares in the last quarter. Hedge funds and other institutional investors own 77.01% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on PTON shares. Morgan Stanley increased their price objective on Peloton Interactive from $4.00 to $5.75 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $8.00 price objective on shares of Peloton Interactive in a research note on Thursday, August 7th. Truist Financial set a $11.00 price objective on Peloton Interactive in a research note on Thursday, August 7th. The Goldman Sachs Group raised Peloton Interactive from a "neutral" rating to a "buy" rating and increased their price objective for the company from $7.00 to $11.50 in a research note on Friday, August 8th. Finally, Macquarie increased their price objective on Peloton Interactive from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Thursday, August 14th. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $9.29.

Peloton Interactive Price Performance

NASDAQ:PTON traded down $0.07 during mid-day trading on Friday, reaching $7.58. The company's stock had a trading volume of 7,361,268 shares, compared to its average volume of 13,955,311. The company's fifty day simple moving average is $7.27 and its two-hundred day simple moving average is $6.79. Peloton Interactive, Inc. has a twelve month low of $4.25 and a twelve month high of $10.90. The stock has a market cap of $3.09 billion, a P/E ratio of -24.45 and a beta of 2.07.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.12. The business had revenue of $606.90 million during the quarter, compared to analyst estimates of $580.29 million. During the same period in the previous year, the business posted ($0.08) earnings per share. The firm's quarterly revenue was down 5.8% on a year-over-year basis. Peloton Interactive has set its FY 2025 guidance at EPS. Sell-side analysts expect that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Insider Transactions at Peloton Interactive

In other news, insider Dion C. Sanders sold 113,439 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $7.61, for a total value of $863,270.79. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Saqib Baig sold 21,736 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $7.62, for a total value of $165,628.32. Following the completion of the transaction, the chief accounting officer owned 155,284 shares in the company, valued at approximately $1,183,264.08. This trade represents a 12.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,000,913 shares of company stock worth $7,976,409 in the last quarter. 1.34% of the stock is currently owned by corporate insiders.

Peloton Interactive Company Profile

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.