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

Procyon Advisors LLC purchased a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 54,512 shares of the company's stock, valued at approximately $345,000.

A number of other large investors have also recently modified their holdings of PTON. Russell Investments Group Ltd. lifted its holdings in shares of Peloton Interactive by 969.6% in the 4th quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company's stock worth $35,000 after buying an additional 3,636 shares during the period. Comerica Bank grew its holdings in Peloton Interactive by 29.1% during the 4th quarter. Comerica Bank now owns 6,164 shares of the company's stock worth $54,000 after acquiring an additional 1,389 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Peloton Interactive during the 4th quarter valued at about $69,000. GAMMA Investing LLC raised its holdings in shares of Peloton Interactive by 1,082.5% in the 1st quarter. GAMMA Investing LLC now owns 8,159 shares of the company's stock valued at $52,000 after purchasing an additional 7,469 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Peloton Interactive in the 4th quarter valued at about $72,000. Hedge funds and other institutional investors own 77.01% of the company's stock.

Analyst Upgrades and Downgrades

PTON has been the topic of several research reports. Macquarie raised shares of Peloton Interactive from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $9.00 to $10.00 in a report on Tuesday, May 13th. Needham & Company LLC reiterated a "hold" rating on shares of Peloton Interactive in a report on Friday, May 9th. The Goldman Sachs Group reduced their price target on Peloton Interactive from $10.00 to $7.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Truist Financial raised Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 price objective on the stock in a research report on Monday, April 28th. Finally, Morgan Stanley reduced their target price on shares of Peloton Interactive from $5.75 to $4.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $8.30.

Peloton Interactive Trading Up 5.2%

NASDAQ:PTON opened at $7.30 on Monday. The company has a market capitalization of $2.85 billion, a P/E ratio of -9.48 and a beta of 2.15. Peloton Interactive, Inc. has a 12 month low of $2.83 and a 12 month high of $10.90. The firm has a fifty day simple moving average of $6.37 and a 200-day simple moving average of $7.70.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). The business had revenue of $624.00 million during the quarter, compared to the consensus estimate of $620.39 million. The business'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 company posted ($0.45) earnings per share. Equities analysts forecast that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In related news, insider Dion C. Sanders sold 122,036 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.25, for a total transaction of $762,725.00. Following the sale, the insider now directly owns 114,318 shares of the company's stock, valued at $714,487.50. This trade represents a 51.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elizabeth F. Coddington sold 38,151 shares of Peloton Interactive stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $6.83, for a total value of $260,571.33. Following the transaction, the chief financial officer now owns 258,880 shares of the company's stock, valued at approximately $1,768,150.40. This represents a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 560,197 shares of company stock worth $3,554,152. Company insiders own 1.34% of the company's stock.

Peloton Interactive Company 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.

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