Panoramic Capital LLC Buys 87,626 Shares of Peloton Interactive, Inc. $PTON

Key Points

• Panoramic Capital LLC increased its stake in Peloton Interactive by 85.6%, acquiring an additional 87,626 shares, bringing its total to 190,014 shares.
• Wall Street analysts have updated their ratings for Peloton, with Goldman Sachs upgrading it from "neutral" to "buy," and several firms raising their price targets between $5.75 and $11.50.
• Shares of Peloton are currently valued at around $8.02 with a market capitalization of $3.27 billion, having recently reported earnings that beat expectations, but revenue showed a 5.8% decline year-over-year.

Panoramic Capital LLC grew its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 85.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 190,014 shares of the company's stock after buying an additional 87,626 shares during the period. Peloton Interactive makes up 1.3% of Panoramic Capital LLC's portfolio, making the stock its 21st biggest position. Panoramic Capital LLC's holdings in Peloton Interactive were worth $1,201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Peloton Interactive by 6.2% during the first quarter. Vanguard Group Inc. now owns 37,246,652 shares of the company's stock worth $235,399,000 after buying an additional 2,186,862 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Peloton Interactive by 29.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 21,760,678 shares of the company's stock valued at $137,528,000 after purchasing an additional 4,940,422 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Peloton Interactive by 1.5% during the 4th quarter. Two Sigma Advisers LP now owns 7,551,800 shares of the company's stock valued at $65,701,000 after purchasing an additional 110,900 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Peloton Interactive by 37.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,831,180 shares of the company's stock valued at $36,853,000 after purchasing an additional 1,603,326 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Peloton Interactive during the 1st quarter valued at about $23,239,000. Institutional investors own 77.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PTON. The Goldman Sachs Group upgraded Peloton Interactive from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $7.00 to $11.50 in a report on Friday, August 8th. Morgan Stanley lifted their price objective on Peloton Interactive from $4.00 to $5.75 and gave the company an "equal weight" rating in a report on Monday, August 4th. Macquarie lifted their price objective on Peloton Interactive from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Thursday, August 14th. UBS Group upgraded Peloton Interactive from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $7.50 to $11.00 in a report on Wednesday, July 30th. Finally, Truist Financial set a $11.00 price objective on Peloton Interactive in a report on Thursday, August 7th. Eight research 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, Peloton Interactive currently has a consensus rating of "Hold" and an average price target of $9.29.

Insider Buying and Selling

In other Peloton Interactive news, insider Jennifer Cunningham Cotter sold 146,315 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $8.37, for a total transaction of $1,224,656.55. Following the transaction, the insider owned 234,745 shares of the company's stock, valued at $1,964,815.65. The trade was a 38.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dion C. Sanders sold 122,917 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $8.34, for a total value of $1,025,127.78. Following the transaction, the insider directly owned 113,439 shares in the company, valued at $946,081.26. This trade represents a 52.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 991,944 shares of company stock worth $7,904,657 over the last three months. Company insiders own 1.34% of the company's stock.

Peloton Interactive Stock Down 1.2%

Shares of PTON opened at $8.02 on Friday. The stock has a market capitalization of $3.27 billion, a P/E ratio of -25.87 and a beta of 2.07. Peloton Interactive, Inc. has a twelve month low of $4.19 and a twelve month high of $10.90. The company has a 50 day moving average of $7.17 and a 200-day moving average of $6.83.

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

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