Shellback Capital LP Buys Shares of 500,000 Peloton Interactive, Inc. $PTON

Key Points

• Shellback Capital LP acquired 500,000 shares of Peloton Interactive, Inc. during the first quarter, investing approximately $3.16 million, bringing its ownership to about 0.13% of the company.
• Several hedge funds, including T. Rowe Price and Voloridge Investment Management, have significantly increased their holdings in Peloton, indicating a growing institutional interest in the stock.
• Peloton recently reported a quarterly earnings per share of $0.05, exceeding expectations, despite a year-over-year revenue decline of 5.8%, and analysts predict a consensus target price of $9.29 for the stock.

Shellback Capital LP acquired a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 500,000 shares of the company's stock, valued at approximately $3,160,000. Shellback Capital LP owned about 0.13% of Peloton Interactive at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Panoramic Capital LLC boosted its stake in Peloton Interactive by 85.6% during the 1st quarter. Panoramic Capital LLC now owns 190,014 shares of the company's stock valued at $1,201,000 after acquiring an additional 87,626 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Peloton Interactive by 3,132.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,549 shares of the company's stock valued at $98,000 after acquiring an additional 15,068 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Peloton Interactive by 2.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 290,981 shares of the company's stock valued at $1,839,000 after acquiring an additional 6,921 shares during the last quarter. EFG Asset Management North America Corp. lifted its position in shares of Peloton Interactive by 54.7% in the 1st quarter. EFG Asset Management North America Corp. now owns 401,326 shares of the company's stock worth $2,534,000 after buying an additional 141,949 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Peloton Interactive by 283.2% in the 1st quarter. AQR Capital Management LLC now owns 1,206,632 shares of the company's stock worth $7,427,000 after buying an additional 891,767 shares during the last quarter. 77.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PTON has been the topic of a number of recent research reports. Telsey Advisory Group restated a "market perform" rating and issued a $8.00 price target on shares of Peloton Interactive in a research report on Thursday, August 7th. Morgan Stanley raised their price target on shares of Peloton Interactive from $4.00 to $5.75 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Truist Financial set a $11.00 price target on shares of Peloton Interactive in a research report on Thursday, August 7th. Macquarie raised their price target on shares of Peloton Interactive from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Thursday, August 14th. Finally, UBS Group upgraded shares of Peloton Interactive from a "neutral" rating to a "buy" rating and raised their price target for the stock from $7.50 to $11.00 in a research report on Wednesday, July 30th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $9.29.

Peloton Interactive Price Performance

Shares of PTON stock traded down $0.16 during trading hours on Tuesday, reaching $7.94. The stock had a trading volume of 8,962,706 shares, compared to its average volume of 9,768,796. Peloton Interactive, Inc. has a twelve month low of $4.19 and a twelve month high of $10.90. The firm has a 50-day simple moving average of $7.22 and a 200-day simple moving average of $6.80. The firm has a market capitalization of $3.24 billion, a PE ratio of -25.61 and a beta of 2.07.

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

Insiders Place Their Bets

In other Peloton Interactive news, insider Dion C. Sanders sold 113,439 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $7.61, for a total transaction of $863,270.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nick V. Caldwell sold 10,477 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $8.00, for a total transaction of $83,816.00. Following the transaction, the insider directly owned 590,284 shares in the company, valued at approximately $4,722,272. The trade was a 1.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,000,913 shares of company stock worth $7,976,409. 1.34% of the stock is owned by company insiders.

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.