Rip Road Capital Partners LP Cuts Position in Peloton Interactive, Inc. $PTON

Key Points

• Rip Road Capital Partners LP has reduced its stake in Peloton Interactive by 28.5%, owning 250,000 shares after selling 99,433 shares this quarter, making it the 18th largest holding in their portfolio.
• Multiple large investors have adjusted their positions in Peloton, with Nisa Investment Advisors LLC significantly increasing its stake by 40.2% in the first quarter.
• Peloton reported a quarterly earnings per share of $0.05, exceeding analysts' estimates, but its revenue was down 5.8% compared to the same quarter last year.

Rip Road Capital Partners LP trimmed its position in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 28.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,000 shares of the company's stock after selling 99,433 shares during the quarter. Peloton Interactive accounts for approximately 1.7% of Rip Road Capital Partners LP's portfolio, making the stock its 18th largest holding. Rip Road Capital Partners LP owned about 0.06% of Peloton Interactive worth $1,580,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PTON. Comerica Bank grew its stake in shares of Peloton Interactive by 29.1% in the fourth quarter. Comerica Bank now owns 6,164 shares of the company's stock valued at $54,000 after buying an additional 1,389 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Peloton Interactive by 9.1% in the fourth quarter. Cetera Investment Advisers now owns 17,144 shares of the company's stock valued at $149,000 after buying an additional 1,432 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Peloton Interactive by 0.3% in the first quarter. Federated Hermes Inc. now owns 533,820 shares of the company's stock valued at $3,374,000 after buying an additional 1,643 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Peloton Interactive by 4.4% in 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 in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Peloton Interactive by 40.2% in the first quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company's stock valued at $41,000 after buying an additional 1,864 shares in the last quarter. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PTON has been the subject of a number of recent research reports. Telsey Advisory Group reiterated a "market perform" rating and issued a $8.00 target price on shares of Peloton Interactive in a research note on Thursday, August 7th. The Goldman Sachs Group upgraded Peloton Interactive from a "neutral" rating to a "buy" rating and increased their target price for the company from $7.00 to $11.50 in a research note on Friday, August 8th. UBS Group upgraded Peloton Interactive from a "neutral" rating to a "buy" rating and increased their target price for the company from $7.50 to $11.00 in a research note on Wednesday, July 30th. Morgan Stanley raised their price objective on Peloton Interactive from $4.00 to $5.75 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Finally, Needham & Company LLC restated a "hold" rating on shares of Peloton Interactive in a research note on Thursday, August 7th. Eight analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Peloton Interactive presently has an average rating of "Hold" and a consensus target price of $9.29.

Peloton Interactive Stock Down 1.2%

Shares of NASDAQ PTON opened at $8.02 on Friday. Peloton Interactive, Inc. has a fifty-two week low of $4.19 and a fifty-two week high of $10.90. The business has a 50 day moving average price of $7.17 and a two-hundred day moving average price of $6.83. The firm has a market cap of $3.27 billion, a PE ratio of -25.87 and a beta of 2.07.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12. The business had revenue of $606.90 million for the quarter, compared to analyst estimates of $580.29 million. Peloton Interactive's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.08) EPS. Peloton Interactive has set its FY 2025 guidance at EPS. On average, analysts anticipate that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Nick V. Caldwell sold 66,949 shares of Peloton Interactive stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $8.42, for a total value of $563,710.58. Following the completion of the transaction, the insider owned 600,761 shares in the company, valued at approximately $5,058,407.62. This trade represents a 10.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Saqib Baig sold 32,672 shares of Peloton Interactive stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $8.35, for a total value of $272,811.20. Following the completion of the transaction, the chief accounting officer owned 177,020 shares of the company's stock, valued at approximately $1,478,117. The trade was a 15.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 991,944 shares of company stock worth $7,904,657. 1.34% of the stock is currently owned by 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.

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