Woodline Partners LP Invests $7.67 Million in Peloton Interactive, Inc. (NASDAQ:PTON)

Woodline Partners LP bought a new stake in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 881,315 shares of the company's stock, valued at approximately $7,667,000. Woodline Partners LP owned approximately 0.23% of Peloton Interactive at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Wealthcare Advisory Partners LLC bought a new stake in shares of Peloton Interactive during the fourth quarter worth $104,000. KBC Group NV grew its holdings in shares of Peloton Interactive by 36.0% during the fourth quarter. KBC Group NV now owns 15,953 shares of the company's stock worth $139,000 after purchasing an additional 4,221 shares during the last quarter. R Squared Ltd bought a new stake in shares of Peloton Interactive during the fourth quarter worth $28,000. Choreo LLC grew its holdings in shares of Peloton Interactive by 12.3% during the fourth quarter. Choreo LLC now owns 16,832 shares of the company's stock worth $150,000 after purchasing an additional 1,838 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Peloton Interactive during the fourth quarter worth $652,000. 77.01% of the stock is currently owned by institutional investors.

Insider Activity at Peloton Interactive

In other news, insider Nick V. Caldwell sold 68,727 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.59, for a total transaction of $452,910.93. Following the sale, the insider now directly owns 474,234 shares of the company's stock, valued at $3,125,202.06. This represents a 12.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dion C. Sanders sold 122,036 shares of the 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 in the company, valued at approximately $714,487.50. The trade was a 51.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 747,435 shares of company stock worth $4,761,838. Company insiders own 1.34% of the company's stock.

Peloton Interactive Stock Down 4.3%

NASDAQ:PTON traded down $0.33 on Wednesday, reaching $7.25. 4,138,241 shares of the company's stock traded hands, compared to its average volume of 15,269,967. Peloton Interactive, Inc. has a 12 month low of $2.83 and a 12 month high of $10.90. The stock has a 50-day simple moving average of $6.32 and a 200-day simple moving average of $7.76. The firm has a market cap of $2.83 billion, a PE ratio of -9.42 and a beta of 2.25.

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

Analysts Set New Price Targets

PTON has been the subject of several research analyst reports. Argus upgraded Peloton Interactive from a "hold" rating to a "buy" rating and set a $15.00 target price for the company in a research note on Tuesday, February 11th. Telsey Advisory Group reduced their price target on Peloton Interactive from $9.00 to $8.00 and set a "market perform" rating for the company in a research note on Friday, May 9th. Citigroup reduced their price target on Peloton Interactive from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. Morgan Stanley reduced their price target on Peloton Interactive from $5.75 to $4.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group dropped their price objective on Peloton Interactive from $10.00 to $7.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $8.30.

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.