Renaissance Technologies LLC Purchases 2,176,400 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

Renaissance Technologies LLC increased its position in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 59.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,833,700 shares of the company's stock after purchasing an additional 2,176,400 shares during the quarter. Renaissance Technologies LLC owned 1.53% of Peloton Interactive worth $50,753,000 as of its most recent filing with the SEC.

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

Peloton Interactive Price Performance

Shares of NASDAQ:PTON traded down $0.13 during trading hours on Wednesday, hitting $5.60. The company's stock had a trading volume of 2,748,033 shares, compared to its average volume of 14,501,597. The firm's fifty day moving average price is $7.04 and its 200 day moving average price is $7.65. Peloton Interactive, Inc. has a 52 week low of $2.70 and a 52 week high of $10.90. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -7.27 and a beta of 2.21.

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

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CAO Saqib Baig sold 22,662 shares of the company's stock in a transaction 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 owns 130,031 shares of the company's stock, valued at approximately $1,267,802.25. This represents a 14.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elizabeth F. Coddington sold 170,819 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $9.62, for a total transaction of $1,643,278.78. Following the transaction, the chief financial officer now directly owns 275,212 shares of the company's stock, valued at approximately $2,647,539.44. This represents a 38.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 674,338 shares of company stock worth $5,522,838 in the last ninety days. 1.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PTON has been the topic of several research reports. Macquarie reaffirmed a "neutral" rating and issued a $9.00 price target on shares of Peloton Interactive in a report on Monday, February 10th. Bank of America lowered their target price on shares of Peloton Interactive from $11.50 to $9.50 and set a "buy" rating on the stock in a research report on Tuesday. Citigroup lowered their price target on Peloton Interactive from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. Argus raised Peloton Interactive from a "hold" rating to a "buy" rating and set a $15.00 target price on the stock in a research report on Tuesday, February 11th. Finally, JMP Securities reissued a "market perform" rating on shares of Peloton Interactive in a research report on Monday. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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.