Peloton Interactive, Inc. (NASDAQ:PTON) Shares Acquired by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Peloton Interactive by 67.4%, acquiring an additional 86,877 shares, bringing their total to 215,687 shares worth approximately $1.36 million.
• Several institutional investors have made significant adjustments to their Peloton holdings, contributing to the current 77.01% institutional ownership of the stock.
• Analysts have set varying price targets on Peloton shares, with a consensus target of $8.46, signifying a mix of positive and cautious views on the company's future performance.

Mackenzie Financial Corp boosted its holdings in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 67.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 215,687 shares of the company's stock after purchasing an additional 86,877 shares during the quarter. Mackenzie Financial Corp owned approximately 0.06% of Peloton Interactive worth $1,363,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its position in shares of Peloton Interactive by 969.6% during the 4th quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company's stock valued at $35,000 after buying an additional 3,636 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Peloton Interactive during the first quarter worth $37,000. Nisa Investment Advisors LLC lifted its holdings in Peloton Interactive by 40.2% during the first quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company's stock valued at $41,000 after purchasing an additional 1,864 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Peloton Interactive by 1,082.5% in the first quarter. GAMMA Investing LLC now owns 8,159 shares of the company's stock valued at $52,000 after purchasing an additional 7,469 shares during the period. Finally, Comerica Bank grew its position in shares of Peloton Interactive by 29.1% in the fourth quarter. Comerica Bank now owns 6,164 shares of the company's stock valued at $54,000 after purchasing an additional 1,389 shares during the period. 77.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Dion C. Sanders sold 122,036 shares of Peloton Interactive stock in a transaction that occurred 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 sale, the insider owned 114,318 shares in the company, valued at approximately $714,487.50. This trade represents a 51.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nick V. Caldwell sold 63,925 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $6.99, for a total value of $446,835.75. Following the completion of the sale, the insider directly owned 578,668 shares in the company, valued at approximately $4,044,889.32. The trade was a 9.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 576,585 shares of company stock valued at $3,688,758 over the last three months. Company insiders own 1.34% of the company's stock.

Peloton Interactive Stock Up 6.8%

NASDAQ:PTON traded up $0.49 on Friday, hitting $7.60. The stock had a trading volume of 15,390,494 shares, compared to its average volume of 14,362,479. The company has a fifty day moving average price of $6.72 and a two-hundred day moving average price of $6.91. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -17.22 and a beta of 2.08. Peloton Interactive, Inc. has a 1-year low of $2.83 and a 1-year high of $10.90.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. The business had revenue of $606.90 million for the quarter, compared to analyst estimates of $580.29 million. During the same period last year, the business earned ($0.08) EPS. Peloton Interactive's revenue was down 5.8% compared to the same quarter last year. As a group, analysts anticipate that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on PTON. Truist Financial upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 price target for the company in a research report on Monday, April 28th. Macquarie raised Peloton Interactive from a "neutral" rating to an "outperform" rating and increased their target price for the company from $9.00 to $10.00 in a report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft raised Peloton Interactive from a "hold" rating to a "buy" rating and set a $6.60 price target on the stock in a research note on Monday, April 14th. Morgan Stanley boosted their price target on Peloton Interactive from $4.00 to $5.75 and gave the stock an "equal weight" rating in a research report on Monday. Finally, UBS Group upgraded Peloton Interactive from a "neutral" rating to a "buy" rating and raised their price objective for the company from $7.50 to $11.00 in a report on Wednesday, July 30th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Peloton Interactive presently has a consensus rating of "Hold" and a consensus target price of $8.73.

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.