Peloton Interactive, Inc. (NASDAQ:PTON) Shares Purchased by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. grew its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 38.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,820,256 shares of the company's stock after purchasing an additional 4,635,667 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 4.41% of Peloton Interactive worth $146,337,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. R Squared Ltd bought a new position in Peloton Interactive in the 4th quarter worth about $28,000. Russell Investments Group Ltd. boosted its holdings in shares of Peloton Interactive by 969.6% in the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company's stock valued at $35,000 after purchasing an additional 3,636 shares during the period. Sanctuary Advisors LLC bought a new position in Peloton Interactive in the third quarter worth approximately $58,000. SBI Securities Co. Ltd. purchased a new position in Peloton Interactive during the 4th quarter worth $69,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in Peloton Interactive during the 4th quarter valued at $72,000. 77.01% of the stock is currently owned by institutional investors.

Peloton Interactive Trading Down 2.0 %

Shares of NASDAQ:PTON traded down $0.14 on Wednesday, hitting $6.79. 4,539,580 shares of the company were exchanged, compared to its average volume of 16,050,329. The stock's 50 day moving average price is $6.37 and its 200 day moving average price is $7.74. Peloton Interactive, Inc. has a 1-year low of $2.70 and a 1-year high of $10.90. The firm has a market capitalization of $2.65 billion, a P/E ratio of -8.82 and a beta of 2.21.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced 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, equities analysts predict that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on PTON. Macquarie restated a "neutral" rating and set a $9.00 price target on shares of Peloton Interactive in a research note on Monday, February 10th. Canaccord Genuity Group raised shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 target price on the stock in a research report on Friday, March 14th. Citigroup lowered their price target on shares of Peloton Interactive from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Monday, February 10th. The Goldman Sachs Group upped their target price on Peloton Interactive from $8.00 to $10.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Finally, Bank of America cut their price target on Peloton Interactive from $11.50 to $9.50 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $8.59.

Insiders Place Their Bets

In other Peloton Interactive news, CAO Saqib Baig sold 22,662 shares of the firm'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 value of $220,954.50. Following the sale, the chief accounting officer now directly owns 130,031 shares of the company's stock, valued at approximately $1,267,802.25. This trade represents a 14.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew S. Rendich sold 121,883 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total value 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 trade represents a 23.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 674,338 shares of company stock valued at $5,522,838. Company insiders own 1.34% of the company's stock.

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.