Geode Capital Management LLC Raises Position in Peloton Interactive, Inc. (NASDAQ:PTON)

Geode Capital Management LLC grew its holdings in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,270,328 shares of the company's stock after purchasing an additional 170,901 shares during the period. Geode Capital Management LLC owned about 2.17% of Peloton Interactive worth $71,969,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Hennessy Advisors Inc. bought a new stake in Peloton Interactive in the 4th quarter worth about $85,260,000. Assenagon Asset Management S.A. bought a new stake in shares of Peloton Interactive in the fourth quarter worth approximately $39,992,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Peloton Interactive by 245.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,227,854 shares of the company's stock valued at $36,782,000 after purchasing an additional 3,004,757 shares during the last quarter. Vanguard Group Inc. lifted its position in Peloton Interactive by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 35,059,790 shares of the company's stock valued at $305,020,000 after purchasing an additional 1,645,640 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Peloton Interactive in the fourth quarter worth approximately $5,277,000. Hedge funds and other institutional investors own 77.01% of the company's stock.

Insider Buying and Selling at Peloton Interactive

In other news, CAO Saqib Baig sold 22,662 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total transaction of $220,954.50. Following the sale, the chief accounting officer now directly owns 130,031 shares of the company's stock, valued at $1,267,802.25. This represents a 14.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew S. Rendich sold 121,883 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.54, for a total transaction of $1,162,763.82. Following the completion of the sale, the insider now owns 404,188 shares in the company, valued at $3,855,953.52. This represents a 23.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 674,338 shares of company stock valued at $5,522,838 in the last 90 days. Insiders own 1.34% of the company's stock.

Peloton Interactive Price Performance

Shares of NASDAQ:PTON traded down $0.25 during trading on Thursday, hitting $5.37. 3,979,350 shares of the company's stock were exchanged, compared to its average volume of 16,017,878. The business's 50-day simple moving average is $6.98 and its 200 day simple moving average is $7.63. Peloton Interactive, Inc. has a 52-week low of $2.70 and a 52-week high of $10.90. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -6.99 and a beta of 2.21.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.04). On average, sell-side analysts anticipate that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PTON. Deutsche Bank Aktiengesellschaft raised Peloton Interactive from a "hold" rating to a "buy" rating and set a $6.60 price target on the stock in a report on Monday. Bank of America lowered their target price on Peloton Interactive from $11.50 to $9.50 and set a "buy" rating on the stock in a report on Tuesday. JMP Securities restated a "market perform" rating on shares of Peloton Interactive in a research note on Monday. The Goldman Sachs Group increased their price objective on shares of Peloton Interactive from $8.00 to $10.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Peloton Interactive in a research report on Thursday, February 6th. Fifteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Peloton Interactive currently has a consensus rating of "Hold" and an average target price of $8.59.

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.