Engineers Gate Manager LP Acquires New Position in Peloton Interactive, Inc. $PTON

Key Points

• Engineers Gate Manager LP acquired 288,448 Peloton shares in the second quarter, worth approximately $1.7 million, while institutional investors collectively own 77.01% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $7.95; UBS maintained a Buy rating, while Morgan Stanley downgraded the stock to Underweight.
• Peloton exceeded quarterly expectations, reporting $0.13 in earnings per share versus a $0.11 estimate and $607.7 million in revenue, but insiders sold 182,061 shares worth nearly $1 million during the quarter.

Engineers Gate Manager LP bought a new position in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 288,448 shares of the company's stock, valued at approximately $1,705,000. Engineers Gate Manager LP owned 0.07% of Peloton Interactive at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC grew its position in Peloton Interactive by 232.0% in the second quarter. GAMMA Investing LLC now owns 4,399 shares of the company's stock worth $26,000 after acquiring an additional 3,074 shares during the period. Sankala Group LLC acquired a new position in shares of Peloton Interactive in the 4th quarter valued at $31,000. Cora Capital Advisors LLC purchased a new position in shares of Peloton Interactive during the 1st quarter worth $43,000. Proficio Capital Partners LLC acquired a new stake in shares of Peloton Interactive during the 2nd quarter worth about $60,000. Finally, Lotus Technology Management LP purchased a new stake in shares of Peloton Interactive in the 2nd quarter valued at approximately $60,000. Hedge funds and other institutional investors own 77.01% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Telsey Advisory Group restated a "market perform" rating on shares of Peloton Interactive in a research report on Monday, August 3rd. UBS Group dropped their target price on Peloton Interactive from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Tuesday, September 8th. Morgan Stanley lowered shares of Peloton Interactive from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $5.00 to $4.50 in a research note on Tuesday, September 8th. Finally, Weiss Ratings raised shares of Peloton Interactive from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, September 4th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $7.95.

Insiders Place Their Bets

In other news, insider Dion C. Sanders sold 112,512 shares of Peloton Interactive stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $5.45, for a total value of $613,190.40. Following the sale, the insider owned 18,801 shares of the company's stock, valued at $102,465.45. The trade was a 85.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Saqib Baig sold 36,439 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $5.36, for a total transaction of $195,313.04. Following the transaction, the chief accounting officer owned 272,641 shares in the company, valued at approximately $1,461,355.76. This trade represents a 11.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 182,061 shares of company stock worth $989,779. 1.30% of the stock is owned by insiders.

Peloton Interactive Stock Performance

NASDAQ:PTON opened at $4.84 on Thursday. The stock has a market cap of $2.12 billion, a P/E ratio of 40.34, a P/E/G ratio of 0.38 and a beta of 2.52. Peloton Interactive, Inc. has a 1 year low of $3.65 and a 1 year high of $9.20. The stock has a 50-day simple moving average of $5.70 and a 200-day simple moving average of $5.29.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. Peloton Interactive had a negative return on equity of 23.92% and a net margin of 2.58%.The business had revenue of $607.70 million during the quarter, compared to the consensus estimate of $596.60 million. During the same period in the previous year, the business earned $0.05 EPS. The business's quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts predict that Peloton Interactive, Inc. will post 0.31 EPS for the current year.

Peloton Interactive Profile

Peloton Interactive, Inc is a connected fitness company that combines exercise equipment, digital technology and subscription-based content. Its products include the Peloton Bike and Bike+, Tread and Tread+, Row, and Peloton Guide, along with related accessories and apparel. The company also offers digital memberships that provide access to live and on-demand cycling, running, strength, yoga, meditation and other fitness classes.

Peloton sells its products through its website, retail channels and commercial partnerships, while its subscription services are available to owners of Peloton equipment and, through a separate offering, to customers using compatible third-party devices.

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