DNB Asset Management AS Acquires 6,331,510 Shares of Peloton Interactive, Inc. $PTON

Key Points

• DNB Asset Management AS sharply increased its Peloton stake by 142.4% in the fourth quarter, buying 6.33 million additional shares and bringing its total holdings to 10.78 million shares worth about $66.4 million.
• Peloton reported fiscal-quarter EPS of $0.06, missing the $0.07 consensus, but revenue came in above expectations at $630.9 million and rose 1.1% year over year.
• Wall Street remains cautious on the stock, with a consensus rating of “Hold” and an average price target of $8.25, while insiders have also been selling shares recently.

DNB Asset Management AS boosted its holdings in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 142.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,776,627 shares of the company's stock after purchasing an additional 6,331,510 shares during the period. DNB Asset Management AS owned about 2.58% of Peloton Interactive worth $66,384,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new stake in Peloton Interactive during the third quarter worth $48,000. Quarry LP bought a new stake in Peloton Interactive during the third quarter worth $71,000. Rakuten Securities Inc. lifted its stake in Peloton Interactive by 163.9% during the fourth quarter. Rakuten Securities Inc. now owns 11,951 shares of the company's stock worth $74,000 after purchasing an additional 7,422 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in Peloton Interactive during the second quarter worth $74,000. Finally, LVW Advisors LLC bought a new stake in Peloton Interactive during the fourth quarter worth $83,000. 77.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PTON shares. UBS Group restated a "buy" rating on shares of Peloton Interactive in a research note on Tuesday, February 3rd. Argus downgraded Peloton Interactive from a "buy" rating to a "hold" rating in a report on Tuesday, February 10th. Zacks Research downgraded Peloton Interactive from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Wall Street Zen raised Peloton Interactive from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Telsey Advisory Group cut their price objective on Peloton Interactive from $8.00 to $6.00 and set a "market perform" rating on the stock in a report on Friday, February 6th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Peloton Interactive presently has a consensus rating of "Hold" and an average target price of $8.25.

Peloton Interactive Stock Up 2.1%

NASDAQ PTON opened at $5.29 on Friday. Peloton Interactive, Inc. has a twelve month low of $3.65 and a twelve month high of $9.20. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 132.28, a price-to-earnings-growth ratio of 0.95 and a beta of 2.50. The business's fifty day moving average is $4.64 and its 200 day moving average is $5.56.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Peloton Interactive had a net margin of 0.94% and a negative return on equity of 6.95%. The firm had revenue of $630.90 million for the quarter, compared to analyst estimates of $618.25 million. During the same period last year, the business earned ($0.12) EPS. The company's revenue was up 1.1% compared to the same quarter last year. On average, research analysts anticipate that Peloton Interactive, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 238,013 shares of the firm's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $4.18, for a total transaction of $994,894.34. Following the completion of the transaction, the chief financial officer directly owned 346,535 shares of the company's stock, valued at $1,448,516.30. This trade represents a 40.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Cunningham Cotter sold 154,497 shares of the firm's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $4.41, for a total value of $681,331.77. Following the transaction, the insider directly owned 100,269 shares of the company's stock, valued at approximately $442,186.29. This represents a 60.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 949,584 shares of company stock worth $4,048,638 over the last 90 days. Company insiders own 1.30% of the company's stock.

About Peloton Interactive

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company's core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.

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