Entropy Technologies LP Raises Stock Holdings in Peloton Interactive, Inc. (NASDAQ:PTON)

Key Points

• Entropy Technologies LP increased its holdings in Peloton Interactive, Inc. by 133.6%, acquiring a total of 174,972 shares valued at approximately $1,106,000.
• Several analysts have recently upgraded their ratings on Peloton, with UBS Group changing its rating from "neutral" to "buy" and setting a new price target of $11.00.
• Peloton reported a $0.05 EPS for the last quarter, surpassing expectations, while its revenue of $606.90 million showed a 5.8% decline year-over-year.

Entropy Technologies LP increased its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 133.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 174,972 shares of the company's stock after buying an additional 100,072 shares during the period. Entropy Technologies LP's holdings in Peloton Interactive were worth $1,106,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. boosted its position in Peloton Interactive by 38.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 16,820,256 shares of the company's stock worth $146,337,000 after purchasing an additional 4,635,667 shares during the period. Voloridge Investment Management LLC boosted its position in Peloton Interactive by 1,438.9% during the fourth quarter. Voloridge Investment Management LLC now owns 3,109,054 shares of the company's stock worth $27,049,000 after purchasing an additional 2,907,023 shares during the period. Vanguard Group Inc. boosted its position 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 purchasing an additional 2,186,862 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Peloton Interactive by 37.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,831,180 shares of the company's stock worth $36,853,000 after purchasing an additional 1,603,326 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Peloton Interactive during the fourth quarter worth about $10,131,000. Hedge funds and other institutional investors own 77.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Macquarie increased their target price on shares of Peloton Interactive from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Thursday. Truist Financial set a $11.00 price objective on shares of Peloton Interactive in a research report on Thursday, August 7th. The Goldman Sachs Group upgraded shares of Peloton Interactive from a "neutral" rating to a "buy" rating and raised their price objective for the company from $7.00 to $11.50 in a research report on Friday, August 8th. UBS Group upgraded shares of 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 research report on Wednesday, July 30th. Finally, Needham & Company LLC restated a "hold" rating on shares of Peloton Interactive in a research report on Thursday, August 7th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $8.79.

Insiders Place Their Bets

In other Peloton Interactive news, insider Nick V. Caldwell sold 63,925 shares of Peloton Interactive stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $6.99, for a total transaction of $446,835.75. Following the transaction, the insider directly owned 578,668 shares of the company's stock, valued at approximately $4,044,889.32. This trade represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Charles Peter Kirol sold 20,633 shares of Peloton Interactive stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $6.39, for a total transaction of $131,844.87. Following the transaction, the chief operating officer directly owned 35,877 shares in the company, valued at $229,254.03. This trade represents a 36.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,556 shares of company stock valued at $1,090,408. 1.34% of the stock is currently owned by corporate insiders.

Peloton Interactive Stock Performance

Peloton Interactive stock traded up $0.03 during mid-day trading on Friday, hitting $8.52. 9,377,613 shares of the company traded hands, compared to its average volume of 16,617,784. Peloton Interactive, Inc. has a one year low of $3.11 and a one year high of $10.90. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of -27.48 and a beta of 2.08. The stock has a fifty day moving average price of $6.87 and a 200-day moving average price of $6.91.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.05 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 analysts' expectations of $580.29 million. The company's revenue was down 5.8% compared to the same quarter last year. During the same period last year, the business posted ($0.08) earnings per share. Sell-side analysts predict that Peloton Interactive, Inc. will post -0.36 EPS for the current 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.