Bosun Asset Management LLC Reduces Position in Peloton Interactive, Inc. $PTON

Key Points

• Bosun Asset Management LLC has reduced its position in Peloton Interactive by 12.3%, now holding 289,606 shares which constitutes about 0.8% of its portfolio.
• In contrast, T. Rowe Price increased its holdings by 29.4% during the first quarter, owning over 21 million shares valued at $137 million.
• Peloton has received various analyst upgrades, with price targets raised by firms like Goldman Sachs and Macquarie, highlighting a positive sentiment despite a challenging market environment.

Bosun Asset Management LLC trimmed its holdings in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 12.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,606 shares of the company's stock after selling 40,694 shares during the quarter. Peloton Interactive comprises approximately 0.8% of Bosun Asset Management LLC's portfolio, making the stock its 19th largest holding. Bosun Asset Management LLC owned approximately 0.07% of Peloton Interactive worth $1,830,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its holdings 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 purchasing an additional 4,940,422 shares during the last quarter. Nuveen LLC purchased a new stake in Peloton Interactive in the 1st quarter valued at $23,239,000. Voloridge Investment Management LLC increased its stake in shares of Peloton Interactive by 1,438.9% in the 4th quarter. Voloridge Investment Management LLC now owns 3,109,054 shares of the company's stock worth $27,049,000 after acquiring an additional 2,907,023 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 2,186,862 shares during the period. Finally, Jump Financial LLC raised its holdings in shares of 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 acquiring an additional 1,683,053 shares during the period. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PTON has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Peloton Interactive from $4.00 to $5.75 and gave the company an "equal weight" rating in a report on Monday, August 4th. Truist Financial set a $11.00 price target on shares of Peloton Interactive in a research note on Thursday, August 7th. The Goldman Sachs Group upgraded shares of Peloton Interactive from a "neutral" rating to a "buy" rating and raised their price target for the stock from $7.00 to $11.50 in a report on Friday, August 8th. Needham & Company LLC reiterated a "hold" rating on shares of Peloton Interactive in a report on Thursday, August 7th. Finally, Macquarie increased their price objective on Peloton Interactive from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Thursday, August 14th. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Peloton Interactive currently has an average rating of "Hold" and a consensus target price of $9.29.

Insider Transactions at Peloton Interactive

In other Peloton Interactive news, insider Jennifer Cunningham Cotter sold 134,476 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $7.61, for a total transaction of $1,023,362.36. Following the completion of the transaction, the insider owned 100,269 shares in the company, valued at $763,047.09. The trade was a 57.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dion C. Sanders sold 113,439 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $7.61, for a total transaction of $863,270.79. The disclosure for this sale can be found here. Insiders have sold 991,944 shares of company stock valued at $7,904,657 over the last quarter. Insiders own 1.34% of the company's stock.

Peloton Interactive Price Performance

Shares of Peloton Interactive stock opened at $7.60 on Thursday. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -24.52 and a beta of 2.07. The business has a 50-day moving average of $7.11 and a 200 day moving average of $6.85. Peloton Interactive, Inc. has a 12 month low of $4.19 and a 12 month high of $10.90.

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

Peloton Interactive 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.

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