Forge First Asset Management Inc. Makes New $944,000 Investment in Peloton Interactive, Inc. (NASDAQ:PTON)

Key Points

• Forge First Asset Management Inc. acquired 149,300 shares of Peloton Interactive, valued at approximately $944,000, during the first quarter, making it the firm's 29th largest position.
• Peloton's stock has experienced a 7.6% decline recently, with a current market capitalization of $2.57 billion and trading at $6.60 per share.
• Peloton reported earnings of ($0.12) EPS for the latest quarter, missing analysts' expectations, while revenue declined by 13.1% year-over-year.

Forge First Asset Management Inc. bought a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 149,300 shares of the company's stock, valued at approximately $944,000. Peloton Interactive comprises 0.4% of Forge First Asset Management Inc.'s holdings, making the stock its 29th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Peloton Interactive by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 35,059,790 shares of the company's stock worth $305,020,000 after purchasing an additional 1,645,640 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Peloton Interactive by 38.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 16,820,256 shares of the company's stock worth $146,337,000 after buying an additional 4,635,667 shares during the period. DME Capital Management LP increased its position in Peloton Interactive by 10.4% in the fourth quarter. DME Capital Management LP now owns 10,522,687 shares of the company's stock worth $91,547,000 after buying an additional 992,797 shares during the period. Geode Capital Management LLC increased its position in Peloton Interactive by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 8,270,328 shares of the company's stock worth $71,969,000 after buying an additional 170,901 shares during the period. Finally, Two Sigma Advisers LP increased its position in Peloton Interactive by 1.5% in the fourth quarter. Two Sigma Advisers LP now owns 7,551,800 shares of the company's stock worth $65,701,000 after buying an additional 110,900 shares during the period. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PTON shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Peloton Interactive in a research report on Friday, May 9th. Morgan Stanley raised their price target on Peloton Interactive from $4.00 to $5.75 and gave the company an "equal weight" rating in a report on Monday. Bank of America lowered their price target on Peloton Interactive from $11.50 to $9.50 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Macquarie raised Peloton Interactive from a "neutral" rating to an "outperform" rating and raised their price target for the company from $9.00 to $10.00 in a report on Tuesday, May 13th. Finally, JMP Securities reissued a "market perform" rating on shares of Peloton Interactive in a report on Monday, April 14th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Peloton Interactive has an average rating of "Hold" and an average price target of $8.46.

Insider Buying and Selling

In other news, insider Jennifer Cunningham Cotter sold 145,622 shares of Peloton Interactive stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.25, for a total transaction of $910,137.50. Following the sale, the insider owned 235,439 shares of the company's stock, valued at approximately $1,471,493.75. This trade represents a 38.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Charles Peter Kirol sold 20,633 shares of Peloton Interactive stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $6.39, for a total value of $131,844.87. Following the sale, the chief operating officer directly owned 35,877 shares in the company, valued at $229,254.03. The trade was a 36.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 576,585 shares of company stock worth $3,688,758. 1.34% of the stock is currently owned by company insiders.

Peloton Interactive Trading Down 0.6%

NASDAQ PTON traded down $0.04 during trading on Wednesday, reaching $7.07. 13,950,482 shares of the company's stock were exchanged, compared to its average volume of 14,139,466. The firm has a market capitalization of $2.76 billion, a PE ratio of -16.07 and a beta of 2.08. Peloton Interactive, Inc. has a fifty-two week low of $2.83 and a fifty-two week high of $10.90. The company's fifty day simple moving average is $6.72 and its 200-day simple moving average is $6.92.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). The company had revenue of $624.00 million during the quarter, compared to analyst estimates of $620.39 million. During the same quarter last year, the firm earned ($0.45) earnings per share. The business's quarterly revenue was down 13.1% compared to the same quarter last year. Equities analysts forecast that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal 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.