Patient Capital Management LLC Has $33.21 Million Stock Position in Peloton Interactive, Inc. (NASDAQ:PTON)

Patient Capital Management LLC trimmed its position in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 24.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,817,374 shares of the company's stock after selling 1,237,958 shares during the period. Peloton Interactive accounts for approximately 1.5% of Patient Capital Management LLC's holdings, making the stock its 29th biggest position. Patient Capital Management LLC owned approximately 1.00% of Peloton Interactive worth $33,211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hennessy Advisors Inc. acquired a new stake in shares of Peloton Interactive in the 4th quarter worth approximately $85,260,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of Peloton Interactive by 38.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 16,820,256 shares of the company's stock worth $146,337,000 after acquiring an additional 4,635,667 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Peloton Interactive in the 4th quarter worth approximately $39,992,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Peloton Interactive by 245.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,227,854 shares of the company's stock worth $36,782,000 after acquiring an additional 3,004,757 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Peloton Interactive by 59.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,833,700 shares of the company's stock valued at $50,753,000 after purchasing an additional 2,176,400 shares during the last quarter. 77.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Peloton Interactive

In other news, insider Andrew S. Rendich sold 121,883 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total transaction of $1,162,763.82. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Saqib Baig sold 22,662 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 130,031 shares in the company, valued at approximately $1,267,802.25. This trade represents a 14.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 674,338 shares of company stock worth $5,522,838. 1.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PTON shares. Morgan Stanley cut 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 research note on Thursday, April 17th. Truist Financial raised shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 target price for the company in a research note on Monday, April 28th. Macquarie raised shares of Peloton Interactive from a "neutral" rating to an "outperform" rating and increased their target price for the company from $9.00 to $10.00 in a research note on Tuesday. Citigroup cut their target price on shares of Peloton Interactive from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. Finally, Argus raised shares of 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. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $8.30.

Peloton Interactive Price Performance

Peloton Interactive stock traded up $0.01 during trading hours on Friday, hitting $6.34. The company had a trading volume of 12,456,924 shares, compared to its average volume of 15,517,619. The firm has a market capitalization of $2.47 billion, a P/E ratio of -8.23 and a beta of 2.25. The firm's fifty day moving average is $6.24 and its 200-day moving average is $7.80. Peloton Interactive, Inc. has a fifty-two week low of $2.83 and a fifty-two week high of $10.90.

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

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.