Ieq Capital LLC Grows Position in Peloton Interactive, Inc. $PTON

Key Points

• Ieq Capital LLC significantly boosted its stake in Peloton Interactive by 251.4% in Q1, owning 215,503 shares valued at approximately $1.36 million.
• Multiple institutional investors, including Vanguard Group Inc. and T. Rowe Price Investment Management Inc., increased their positions in Peloton, highlighting strong investor interest with hedge funds collectively holding 77.01% of the stock.
• Peloton's recent earnings beat expectations with $0.05 earnings per share against an estimated ($0.07), despite a revenue decline of 5.8% year-over-year.

Ieq Capital LLC lifted its position in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 251.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 215,503 shares of the company's stock after purchasing an additional 154,182 shares during the quarter. Ieq Capital LLC owned about 0.06% of Peloton Interactive worth $1,362,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. bought a new stake in Peloton Interactive in the fourth quarter worth $104,000. Raymond James Financial Inc. bought a new stake in Peloton Interactive in the fourth quarter worth $1,158,000. Stifel Financial Corp boosted its holdings in Peloton Interactive by 72.7% in the fourth quarter. Stifel Financial Corp now owns 66,930 shares of the company's stock worth $582,000 after acquiring an additional 28,181 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Peloton Interactive by 10.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 192,902 shares of the company's stock worth $1,678,000 after acquiring an additional 18,519 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Peloton Interactive by 12.4% in the fourth quarter. Northern Trust Corp now owns 3,413,295 shares of the company's stock worth $29,696,000 after acquiring an additional 376,278 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on PTON. UBS Group raised Peloton Interactive from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $7.50 to $11.00 in a report on Wednesday, July 30th. Telsey Advisory Group reissued a "market perform" rating and issued a $8.00 target price on shares of Peloton Interactive in a report on Thursday, August 7th. Needham & Company LLC reissued a "hold" rating on shares of Peloton Interactive in a report on Thursday, August 7th. Macquarie boosted their target price on Peloton Interactive from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Thursday, August 14th. Finally, The Goldman Sachs Group raised Peloton Interactive from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $7.00 to $11.50 in a report on Friday, August 8th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $9.29.

Insider Buying and Selling at Peloton Interactive

In other news, insider Dion C. Sanders sold 122,917 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $8.34, for a total value of $1,025,127.78. Following the transaction, the insider owned 113,439 shares of the company's stock, valued at $946,081.26. This trade represents a 52.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nick V. Caldwell sold 66,949 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $8.42, for a total value of $563,710.58. Following the completion of the transaction, the insider directly owned 600,761 shares in the company, valued at $5,058,407.62. This trade represents a 10.03% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 991,944 shares of company stock worth $7,904,657. Insiders own 1.34% of the company's stock.

Peloton Interactive Stock Performance

Shares of PTON stock traded down $0.10 during mid-day trading on Friday, hitting $8.02. The company's stock had a trading volume of 10,868,770 shares, compared to its average volume of 11,545,579. Peloton Interactive, Inc. has a 52-week low of $4.19 and a 52-week high of $10.90. The business has a 50-day moving average price of $7.17 and a 200 day moving average price of $6.83. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of -25.87 and a beta of 2.07.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12. The firm had revenue of $606.90 million for the quarter, compared to analysts' expectations of $580.29 million. The firm's revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.08) EPS. Peloton Interactive has set its FY 2025 guidance at EPS. Equities research analysts predict that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Peloton Interactive Company 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.