TD Asset Management Inc Buys 174,516 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

Key Points

• TD Asset Management Inc increased its holdings in Peloton Interactive by 178.1%, owning approximately 272,516 shares valued at $1.72 million as of its latest SEC filing.
• The stock's average rating from analysts is currently a "Hold", with a consensus target price of $8.36, despite recent price target reductions by firms like Bank of America and Goldman Sachs.
• Peloton reported a quarterly revenue of $624 million, which was down 13.1% year-over-year, along with a loss of ($0.12) earnings per share that missed analyst estimates.

TD Asset Management Inc raised its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 178.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 272,516 shares of the company's stock after purchasing an additional 174,516 shares during the period. TD Asset Management Inc owned 0.07% of Peloton Interactive worth $1,722,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Townsquare Capital LLC increased its position in shares of Peloton Interactive by 6.5% during the fourth quarter. Townsquare Capital LLC now owns 19,280 shares of the company's stock worth $168,000 after acquiring an additional 1,172 shares during the period. Comerica Bank raised its position in Peloton Interactive by 29.1% during the 4th quarter. Comerica Bank now owns 6,164 shares of the company's stock valued at $54,000 after purchasing an additional 1,389 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Peloton Interactive by 9.1% during the 4th quarter. Cetera Investment Advisers now owns 17,144 shares of the company's stock worth $149,000 after buying an additional 1,432 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Peloton Interactive by 4.4% during the first quarter. Victory Capital Management Inc. now owns 43,944 shares of the company's stock valued at $278,000 after buying an additional 1,860 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in Peloton Interactive by 40.2% in the first quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company's stock worth $41,000 after acquiring an additional 1,864 shares during the period. 77.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $6.60 price objective for the company in a research note on Monday, April 14th. Morgan Stanley lifted their target price on Peloton Interactive from $4.00 to $5.75 and gave the company an "equal weight" rating in a research note on Monday. The Goldman Sachs Group decreased their price target 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. Macquarie upgraded shares of Peloton Interactive from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $9.00 to $10.00 in a research note on Tuesday, May 13th. Finally, Truist Financial upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 target price for the company in a research note on Monday, April 28th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Peloton Interactive currently has a consensus rating of "Hold" and a consensus price target of $8.46.

Peloton Interactive Stock Performance

Shares of PTON traded down $0.04 during trading hours on Wednesday, reaching $7.07. 13,982,393 shares of the company traded hands, compared to its average volume of 12,224,563. The stock has a market cap of $2.76 billion, a P/E ratio of -16.07 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. The stock's fifty day moving average is $6.72 and its 200 day moving average is $6.92.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). The company had revenue of $624.00 million during the quarter, compared to analyst estimates of $620.39 million. During the same period last year, the firm posted ($0.45) earnings per share. The business's quarterly revenue was down 13.1% compared to the same quarter last year. On average, equities research analysts predict that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Insider Buying and Selling

In related news, insider Nick V. Caldwell sold 63,925 shares of the firm's stock in a transaction dated 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 $4,044,889.32. This trade represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dion C. Sanders sold 122,036 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.25, for a total transaction of $762,725.00. Following the completion of the sale, the insider owned 114,318 shares in the company, valued at $714,487.50. This represents a 51.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 576,585 shares of company stock valued at $3,688,758 in the last quarter. Corporate insiders own 1.34% of the company's stock.

Peloton Interactive Profile

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.