Peloton Interactive, Inc. $PTON Stock Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Peloton stake by 632.5% in the third quarter, acquiring 265,341 additional shares for a total position of 307,290 shares valued at approximately $1.53 million. Institutional investors collectively own 77.01% of Peloton’s stock.
• Analyst sentiment remains mixed, with four Buy, seven Hold, and one Sell rating; the consensus is Hold with a $7.72 price target. Peloton shares opened at $5.46, up 4.2%, with a market capitalization of about $2.40 billion.
• Peloton exceeded quarterly expectations, reporting $0.13 in earnings per share versus the $0.11 consensus and revenue of $607.7 million. However, insiders sold 217,712 shares worth roughly $1.18 million over the past three months.

Assenagon Asset Management S.A. lifted its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 632.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 307,290 shares of the company's stock after buying an additional 265,341 shares during the quarter. Assenagon Asset Management S.A. owned about 0.07% of Peloton Interactive worth $1,533,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Pale Fire Capital SE lifted its position in Peloton Interactive by 24.0% in the second quarter. Pale Fire Capital SE now owns 7,728,586 shares of the company's stock valued at $45,676,000 after acquiring an additional 1,494,009 shares during the last quarter. Technology Crossover Management IX Ltd. acquired a new position in Peloton Interactive in the second quarter valued at $21,727,601. Pacer Advisors Inc. boosted its stake in Peloton Interactive by 40.6% in the first quarter. Pacer Advisors Inc. now owns 3,185,534 shares of the company's stock valued at $13,666,000 after acquiring an additional 919,754 shares in the last quarter. Kanen Wealth Management LLC purchased a new position in shares of Peloton Interactive during the first quarter worth about $7,560,000. Finally, Bastion Asset Management Inc. purchased a new position in shares of Peloton Interactive during the first quarter worth about $7,020,000. Hedge funds and other institutional investors own 77.01% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PTON. Weiss Ratings upgraded Peloton Interactive from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, October 2nd. Telsey Advisory Group reaffirmed a "market perform" rating on shares of Peloton Interactive in a research report on Monday, August 3rd. Morgan Stanley cut Peloton Interactive from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $5.00 to $4.50 in a research note on Tuesday, September 8th. Finally, UBS Group decreased their price objective on Peloton Interactive from $11.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, September 8th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $7.72.

Peloton Interactive Stock Up 4.2%

NASDAQ PTON opened at $5.46 on Friday. The firm has a market cap of $2.40 billion, a P/E ratio of 43.67, a P/E/G ratio of 0.41 and a beta of 2.54. Peloton Interactive, Inc. has a 52-week low of $3.65 and a 52-week high of $7.97. The business's 50-day moving average price is $5.15 and its 200 day moving average price is $5.48.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. Peloton Interactive had a negative return on equity of 23.92% and a net margin of 2.58%. The company had revenue of $607.70 million during the quarter, compared to analysts' expectations of $596.60 million. The firm's revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm earned $0.05 EPS. As a group, analysts anticipate that Peloton Interactive, Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Charles Kirol sold 28,849 shares of Peloton Interactive stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $5.33, for a total value of $153,765.17. Following the transaction, the chief operating officer directly owned 197,334 shares in the company, valued at $1,051,790.22. This trade represents a 12.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Saqib Baig sold 10,000 shares of the business's stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $5.45, for a total transaction of $54,500.00. Following the completion of the transaction, the chief accounting officer directly owned 257,729 shares in the company, valued at $1,404,623.05. This represents a 3.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 217,712 shares of company stock worth $1,177,289 over the last three months. 1.30% of the stock is owned by company insiders.

About Peloton Interactive

Peloton Interactive, Inc is a connected-fitness company that combines exercise equipment, digital content and subscription services. Its product portfolio includes the Peloton Bike, Bike+, Tread treadmill, Row rowing machine and related accessories, apparel and fitness products. The company's equipment is designed to connect users with live and on-demand instructor-led workouts through integrated screens and digital platforms.

Peloton offers subscription memberships that provide access to classes in cycling, running, strength training, yoga, meditation, rowing and other fitness disciplines.

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