Mackenzie Financial Corp Acquires 86,877 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

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 raised its holdings in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 67.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 215,687 shares of the company's stock after purchasing an additional 86,877 shares during the period. Mackenzie Financial Corp owned approximately 0.06% of Peloton Interactive worth $1,363,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in shares of Peloton Interactive by 969.6% in 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 shares of Peloton Interactive in the 1st quarter valued at approximately $37,000. Comerica Bank raised its position in shares of Peloton Interactive by 29.1% in the 4th quarter. Comerica Bank now owns 6,164 shares of the company's stock valued at $54,000 after buying an additional 1,389 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Peloton Interactive by 40.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company's stock valued at $41,000 after buying an additional 1,864 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Peloton Interactive by 1,082.5% in the 1st quarter. GAMMA Investing LLC now owns 8,159 shares of the company's stock valued at $52,000 after buying an additional 7,469 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on PTON shares. Bank of America dropped their target price on shares of Peloton Interactive from $11.50 to $9.50 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Telsey Advisory Group reiterated a "market perform" rating and set a $8.00 price objective on shares of Peloton Interactive in a research report on Friday. Macquarie upgraded shares of Peloton Interactive from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $9.00 to $10.00 in a research report on Tuesday, May 13th. JMP Securities reiterated a "market perform" rating on shares of Peloton Interactive in a research report on Monday, April 14th. Finally, The Goldman Sachs Group lowered their price objective on shares of Peloton Interactive from $10.00 to $7.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Peloton Interactive presently has an average rating of "Hold" and a consensus price target of $8.46.

Insider Buying and Selling

In related news, insider Jennifer Cunningham Cotter sold 145,622 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 transaction of $910,137.50. Following the transaction, the insider directly owned 235,439 shares of the company's stock, valued at $1,471,493.75. This represents a 38.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elizabeth F. Coddington sold 38,708 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $6.96, for a total transaction of $269,407.68. Following the transaction, the chief financial officer directly owned 294,342 shares in the company, valued at approximately $2,048,620.32. This represents a 11.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 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 Stock Performance

Shares of NASDAQ PTON opened at $6.96 on Tuesday. The firm has a 50 day moving average price of $6.73 and a two-hundred day moving average price of $6.92. 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 P/E ratio of -15.82 and a beta of 2.08.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.