Hennessy Advisors Inc. Has $56.42 Million Stock Holdings in Peloton Interactive, Inc. (NASDAQ:PTON)

Hennessy Advisors Inc. lessened its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 8.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,927,200 shares of the company's stock after selling 872,800 shares during the period. Peloton Interactive comprises approximately 1.9% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 5th largest holding. Hennessy Advisors Inc. owned 2.29% of Peloton Interactive worth $56,420,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PTON. Wealth Enhancement Advisory Services LLC raised its stake in Peloton Interactive by 385.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 60,476 shares of the company's stock valued at $382,000 after buying an additional 48,023 shares during the period. Matauro LLC raised its stake in Peloton Interactive by 213.6% in the first quarter. Matauro LLC now owns 32,496 shares of the company's stock valued at $205,000 after buying an additional 22,135 shares during the period. Handelsbanken Fonder AB raised its stake in Peloton Interactive by 25.8% in the first quarter. Handelsbanken Fonder AB now owns 88,700 shares of the company's stock valued at $561,000 after buying an additional 18,200 shares during the period. SG Americas Securities LLC raised its stake in Peloton Interactive by 689.7% in the first quarter. SG Americas Securities LLC now owns 117,888 shares of the company's stock valued at $745,000 after buying an additional 102,959 shares during the period. Finally, Pallas Capital Advisors LLC bought a new stake in Peloton Interactive in the first quarter valued at approximately $138,000. Institutional investors own 77.01% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Peloton Interactive from a "hold" rating to a "buy" rating and set a $6.60 price objective on the stock in a research note on Monday, April 14th. The Goldman Sachs Group decreased their target price on Peloton Interactive from $10.00 to $7.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Truist Financial raised Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 target price on the stock in a research report on Monday, April 28th. Morgan Stanley decreased their target price on Peloton Interactive from $5.75 to $4.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Peloton Interactive in a research report on Monday, April 14th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $8.30.

Peloton Interactive Trading Down 4.9%

NASDAQ PTON traded down $0.36 on Friday, hitting $6.96. 14,303,279 shares of the company's stock were exchanged, compared to its average volume of 15,393,594. The stock has a 50-day moving average of $6.57 and a 200-day moving average of $7.63. Peloton Interactive, Inc. has a 52 week low of $2.83 and a 52 week high of $10.90. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -9.04 and a beta of 2.15.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The business had revenue of $624.00 million during the quarter, compared to analysts' expectations of $620.39 million. During the same period in the previous year, the firm earned ($0.45) EPS. Peloton Interactive's revenue was down 13.1% on a year-over-year basis. As a group, analysts predict that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Elizabeth F. Coddington sold 185,661 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.29, for a total value of $1,167,807.69. Following the completion of the transaction, the chief financial officer now directly owns 311,231 shares in the company, valued at approximately $1,957,642.99. This represents a 37.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dion C. Sanders sold 122,036 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.25, for a total value of $762,725.00. Following the completion of the transaction, the insider now owns 114,318 shares of the company's stock, valued at $714,487.50. The trade was a 51.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 522,046 shares of company stock worth $3,293,581 over the last three months. Insiders own 1.34% of the company's stock.

About Peloton Interactive

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.