Jupiter Asset Management Ltd. Invests $278,000 in Peloton Interactive, Inc. (NASDAQ:PTON)

Jupiter Asset Management Ltd. purchased a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 44,048 shares of the company's stock, valued at approximately $278,000.

Other large investors also recently added to or reduced their stakes in the company. Moors & Cabot Inc. lifted its position in shares of Peloton Interactive by 27.8% in the 1st quarter. Moors & Cabot Inc. now owns 50,965 shares of the company's stock worth $322,000 after purchasing an additional 11,095 shares during the period. Alberta Investment Management Corp acquired a new position in Peloton Interactive during the 1st quarter valued at approximately $1,022,000. Bayforest Capital Ltd increased its stake in Peloton Interactive by 1,811.3% during the 1st quarter. Bayforest Capital Ltd now owns 198,790 shares of the company's stock valued at $1,256,000 after purchasing an additional 188,389 shares in the last quarter. Federated Hermes Inc. increased its stake in Peloton Interactive by 0.3% during the 1st quarter. Federated Hermes Inc. now owns 533,820 shares of the company's stock valued at $3,374,000 after purchasing an additional 1,643 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Peloton Interactive by 67.4% during the first quarter. Mackenzie Financial Corp now owns 215,687 shares of the company's stock worth $1,363,000 after purchasing an additional 86,877 shares during the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. UBS Group raised shares of Peloton Interactive from a "neutral" rating to a "buy" rating and increased their price target for the stock from $7.50 to $11.00 in a report on Wednesday, July 30th. Bank of America decreased their price target on shares of Peloton Interactive from $11.50 to $9.50 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Telsey Advisory Group reissued a "market perform" rating and issued a $8.00 price target on shares of Peloton Interactive in a research note on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $6.60 price objective for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Peloton Interactive from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $8.46.

Insiders Place Their Bets

In other news, CFO Elizabeth F. Coddington sold 185,661 shares of Peloton Interactive stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.29, for a total value of $1,167,807.69. Following the transaction, the chief financial officer directly owned 311,231 shares of the company's stock, valued at $1,957,642.99. The trade was a 37.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dion C. Sanders sold 122,036 shares of Peloton Interactive stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.25, for a total transaction of $762,725.00. Following the completion of the transaction, the insider directly owned 114,318 shares in the company, 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. Over the last ninety days, insiders sold 576,585 shares of company stock worth $3,688,758. Corporate insiders own 1.34% of the company's stock.

Peloton Interactive Trading Up 5.5%

Shares of NASDAQ:PTON opened at $6.96 on Tuesday. The company has a market capitalization of $2.71 billion, a PE ratio of -15.82 and a beta of 2.08. Peloton Interactive, Inc. has a twelve month low of $2.83 and a twelve month high of $10.90. The firm has a 50 day simple moving average of $6.73 and a 200-day simple moving average of $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 the consensus estimate of ($0.06) by ($0.06). The firm had revenue of $624.00 million for the quarter, compared to analyst estimates of $620.39 million. The company's revenue was down 13.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.45) EPS. As a group, equities research analysts predict that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

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.

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