Procyon Advisors LLC Invests $345,000 in Peloton Interactive, Inc. (NASDAQ:PTON)

Procyon Advisors LLC acquired a new position in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,512 shares of the company's stock, valued at approximately $345,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Peloton Interactive by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 35,059,790 shares of the company's stock worth $305,020,000 after buying an additional 1,645,640 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Peloton Interactive by 38.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 16,820,256 shares of the company's stock valued at $146,337,000 after acquiring an additional 4,635,667 shares in the last quarter. DME Capital Management LP raised its stake in shares of Peloton Interactive by 10.4% in the 4th quarter. DME Capital Management LP now owns 10,522,687 shares of the company's stock valued at $91,547,000 after acquiring an additional 992,797 shares in the last quarter. Geode Capital Management LLC boosted its position in Peloton Interactive by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 8,270,328 shares of the company's stock worth $71,969,000 after purchasing an additional 170,901 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in Peloton Interactive by 1.5% during the fourth 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 during the last quarter. Institutional investors own 77.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PTON shares. Canaccord Genuity Group upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 price objective for the company in a research note on Friday, March 14th. JMP Securities reissued a "market perform" rating on shares of Peloton Interactive in a research report on Monday, April 14th. Morgan Stanley lowered their price target on Peloton Interactive from $5.75 to $4.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. The Goldman Sachs Group dropped their price objective on Peloton Interactive from $10.00 to $7.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, Telsey Advisory Group cut their price objective on Peloton Interactive from $9.00 to $8.00 and set a "market perform" rating for the company in a research report on Friday, May 9th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Peloton Interactive currently has an average rating of "Hold" and a consensus target price of $8.30.

Peloton Interactive Stock Performance

Shares of NASDAQ:PTON traded down $0.06 during trading on Thursday, hitting $7.32. 9,907,643 shares of the stock were exchanged, compared to its average volume of 15,356,602. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -9.51 and a beta of 2.15. Peloton Interactive, Inc. has a 1-year low of $2.83 and a 1-year high of $10.90. The company's fifty day simple moving average is $6.49 and its 200-day simple moving average is $7.68.

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

Insider Activity at Peloton Interactive

In other Peloton Interactive news, insider Dion C. Sanders sold 122,036 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.25, for a total value of $762,725.00. Following the transaction, the insider now directly owns 114,318 shares in the company, valued at $714,487.50. The trade was a 51.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elizabeth F. Coddington sold 185,661 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.29, for a total transaction of $1,167,807.69. Following the sale, the chief financial officer now directly owns 311,231 shares in the company, valued at $1,957,642.99. This represents a 37.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 560,197 shares of company stock valued at $3,554,152 over the last quarter. 1.34% of the stock is owned by company insiders.

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.