Panagora Asset Management Inc. Raises Holdings in Peloton Interactive, Inc. $PTON

Key Points

• Panagora Asset Management Inc. has significantly increased its holdings in Peloton Interactive by acquiring 508,160 shares during the first quarter, boosting its ownership by 214.5%.
• Several other institutional investors have also adjusted their positions in Peloton Interactive, with 77.01% of the stock being owned by institutional investors overall.
• Peloton recently reported better-than-expected earnings, with a quarterly EPS of $0.05, surpassing analysts' estimates, despite a 5.8% year-over-year revenue decline.

Panagora Asset Management Inc. increased its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 214.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 745,041 shares of the company's stock after purchasing an additional 508,160 shares during the period. Panagora Asset Management Inc. owned 0.19% of Peloton Interactive worth $4,709,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Aperture Investors LLC bought a new stake in shares of Peloton Interactive during the first quarter valued at about $5,275,000. State of Wyoming grew its stake in Peloton Interactive by 45.3% during the first quarter. State of Wyoming now owns 100,528 shares of the company's stock valued at $635,000 after acquiring an additional 31,329 shares in the last quarter. Trexquant Investment LP purchased a new position in Peloton Interactive during the first quarter valued at approximately $4,061,000. MYDA Advisors LLC bought a new stake in Peloton Interactive during the 1st quarter worth approximately $379,000. Finally, Ieq Capital LLC lifted its stake in Peloton Interactive by 251.4% in the 1st quarter. Ieq Capital LLC now owns 215,503 shares of the company's stock worth $1,362,000 after purchasing an additional 154,182 shares in the last quarter. Institutional investors own 77.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PTON. Morgan Stanley boosted their price target on shares of Peloton Interactive from $4.00 to $5.75 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Truist Financial set a $11.00 price objective on Peloton Interactive in a research report on Thursday, August 7th. UBS Group upgraded Peloton Interactive from a "neutral" rating to a "buy" rating and upped their target price for the stock from $7.50 to $11.00 in a research note on Wednesday, July 30th. Needham & Company LLC restated a "hold" rating on shares of Peloton Interactive in a research note on Thursday, August 7th. Finally, Macquarie upped their target price on Peloton Interactive from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $9.29.

Insider Activity

In other news, CAO Saqib Baig sold 32,672 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $8.35, for a total transaction of $272,811.20. Following the transaction, the chief accounting officer directly owned 177,020 shares in the company, valued at approximately $1,478,117. This represents a 15.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Cunningham Cotter sold 146,315 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $8.37, for a total value of $1,224,656.55. Following the sale, the insider owned 234,745 shares of the company's stock, valued at $1,964,815.65. This represents a 38.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 991,944 shares of company stock worth $7,904,657. 1.34% of the stock is currently owned by insiders.

Peloton Interactive Stock Down 1.2%

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

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. The firm had revenue of $606.90 million for the quarter, compared to the consensus estimate of $580.29 million. Peloton Interactive's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.08) earnings per share. Peloton Interactive has set its FY 2025 guidance at EPS. On average, analysts forecast 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.