Connor Clark & Lunn Investment Management Ltd. Grows Holdings in Peloton Interactive, Inc. (NASDAQ:PTON)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Peloton Interactive by 37.9%, acquiring 1,603,326 additional shares to reach a total of 5,831,180 shares, valued at approximately $36.85 million.
• Peloton's CFO and COO have both significantly reduced their shares, with the CFO selling 185,661 shares and the COO selling 20,633 shares, reflecting a notable decrease in insider ownership.
• Peloton recently reported a quarterly earnings per share of $0.05, exceeding expectations and achieving revenue of $606.90 million, despite a 5.8% decline compared to the same quarter last year.

Connor Clark & Lunn Investment Management Ltd. increased its position in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 37.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,831,180 shares of the company's stock after buying an additional 1,603,326 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 1.50% of Peloton Interactive worth $36,853,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Peloton Interactive by 6.2% in the first 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 in the last quarter. Bank of Nova Scotia boosted its stake in Peloton Interactive by 22.0% in the first quarter. Bank of Nova Scotia now owns 18,620 shares of the company's stock valued at $118,000 after acquiring an additional 3,354 shares during the period. R Squared Ltd raised its holdings in shares of Peloton Interactive by 385.8% during the first quarter. R Squared Ltd now owns 15,740 shares of the company's stock valued at $99,000 after buying an additional 12,500 shares during the last quarter. Banco Santander S.A. bought a new stake in shares of Peloton Interactive during the first quarter valued at approximately $268,000. Finally, Forge First Asset Management Inc. bought a new stake in Peloton Interactive during the first quarter worth approximately $944,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Peloton Interactive news, insider Jennifer Cunningham Cotter sold 145,622 shares of Peloton Interactive stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.25, for a total transaction of $910,137.50. Following the completion of the sale, the insider directly owned 235,439 shares in the company, valued at $1,471,493.75. This trade represents a 38.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elizabeth F. Coddington sold 38,708 shares of Peloton Interactive stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $6.96, for a total transaction of $269,407.68. Following the sale, the chief financial officer owned 294,342 shares of the company's stock, valued at approximately $2,048,620.32. This represents a 11.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 606,875 shares of company stock valued at $3,931,078. 1.34% of the stock is owned by company insiders.

Peloton Interactive Price Performance

NASDAQ PTON traded down $0.11 during trading on Tuesday, reaching $8.14. 12,050,218 shares of the company's stock traded hands, compared to its average volume of 14,522,692. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -26.26 and a beta of 2.08. The company's 50 day simple moving average is $6.76 and its two-hundred day simple moving average is $6.89. Peloton Interactive, Inc. has a 12-month low of $2.83 and a 12-month high of $10.90.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. The business had revenue of $606.90 million for the quarter, compared to analyst estimates of $580.29 million. The business's revenue 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. Research analysts expect that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Peloton Interactive in a report on Thursday, August 7th. The Goldman Sachs Group upgraded Peloton Interactive from a "neutral" rating to a "buy" rating and upped their price target for the stock from $7.00 to $11.50 in a research note on Friday. Bank of America decreased their price target 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. Truist Financial set a $11.00 target price on shares of Peloton Interactive in a research note on Thursday, August 7th. Finally, Morgan Stanley raised their price target on shares of Peloton Interactive from $4.00 to $5.75 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Peloton Interactive presently has an average rating of "Hold" and a consensus price target of $8.73.

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.