Janus Henderson Group PLC Reduces Stake in Peloton Interactive, Inc. $PTON

Key Points

• Janus Henderson cut its Peloton stake by 63.3% in the first quarter, selling 272,741 shares and retaining 158,354 shares valued at approximately $679,000.
• Other major institutional investors generally increased their positions, and hedge funds and institutional investors collectively own 77.01% of Peloton’s stock.
• Peloton exceeded quarterly expectations with $0.13 in EPS versus $0.11 expected and $607.7 million in revenue, while analysts maintained a consensus “Hold” rating with an average price target of $7.94.

Janus Henderson Group PLC reduced its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 63.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 158,354 shares of the company's stock after selling 272,741 shares during the period. Janus Henderson Group PLC's holdings in Peloton Interactive were worth $679,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Peloton Interactive by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 39,227,591 shares of the company's stock valued at $241,642,000 after purchasing an additional 591,300 shares during the last quarter. Eminence Capital LP increased its position in Peloton Interactive by 20.3% in the fourth quarter. Eminence Capital LP now owns 18,154,907 shares of the company's stock worth $111,834,000 after buying an additional 3,069,497 shares during the last quarter. DNB Asset Management AS raised its stake in shares of Peloton Interactive by 142.4% in the fourth quarter. DNB Asset Management AS now owns 10,776,627 shares of the company's stock valued at $66,384,000 after buying an additional 6,331,510 shares during the period. Geode Capital Management LLC raised its stake in shares of Peloton Interactive by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 9,741,115 shares of the company's stock valued at $60,015,000 after buying an additional 369,614 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Peloton Interactive by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company's stock valued at $44,598,000 after buying an additional 1,503,680 shares during the last quarter. Hedge funds and other institutional investors own 77.01% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PTON shares. Wall Street Zen upgraded Peloton Interactive from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. UBS Group reaffirmed a "buy" rating on shares of Peloton Interactive in a report on Monday, June 15th. The Goldman Sachs Group increased their target price on shares of Peloton Interactive from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Telsey Advisory Group reiterated a "market perform" rating on shares of Peloton Interactive in a research note on Monday, August 3rd. Finally, Weiss Ratings raised shares of Peloton Interactive from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, May 26th. Five equities 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 stock. According to data from MarketBeat, Peloton Interactive currently has a consensus rating of "Hold" and an average target price of $7.94.

Peloton Interactive Stock Down 3.0%

PTON stock opened at $5.51 on Tuesday. The firm has a market capitalization of $2.39 billion, a PE ratio of 45.92, a PEG ratio of 0.37 and a beta of 2.52. Peloton Interactive, Inc. has a twelve month low of $3.65 and a twelve month high of $9.20. The stock has a 50-day simple moving average of $5.96 and a two-hundred day simple moving average of $5.22.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. Peloton Interactive had a net margin of 2.58% and a negative return on equity of 23.92%. The firm had revenue of $607.70 million for the quarter, compared to the consensus estimate of $596.60 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The company's revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts anticipate that Peloton Interactive, Inc. will post 0.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Saqib Baig sold 5,000 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $5.66, for a total value of $28,300.00. Following the transaction, the chief financial officer owned 234,046 shares of the company's stock, valued at approximately $1,324,700.36. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dion C. Sanders sold 112,523 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $5.19, for a total value of $583,994.37. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 160,769 shares of company stock worth $844,525 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Peloton Interactive Profile

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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