Prentice Capital Management LP Reduces Position in Peloton Interactive, Inc. (NASDAQ:PTON)

Prentice Capital Management LP reduced its holdings in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 989,317 shares of the company's stock after selling 232,656 shares during the period. Peloton Interactive comprises about 14.8% of Prentice Capital Management LP's investment portfolio, making the stock its 3rd biggest position. Prentice Capital Management LP owned 0.26% of Peloton Interactive worth $8,607,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Townsquare Capital LLC boosted its position in Peloton Interactive by 6.5% in the fourth quarter. Townsquare Capital LLC now owns 19,280 shares of the company's stock valued at $168,000 after buying an additional 1,172 shares in the last quarter. Comerica Bank raised its stake in shares of Peloton Interactive by 29.1% in the fourth quarter. Comerica Bank now owns 6,164 shares of the company's stock valued at $54,000 after acquiring an additional 1,389 shares during the last quarter. Cetera Investment Advisers grew its position in Peloton Interactive by 9.1% during the 4th quarter. Cetera Investment Advisers now owns 17,144 shares of the company's stock worth $149,000 after acquiring an additional 1,432 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Peloton Interactive by 3.8% during the 4th quarter. Victory Capital Management Inc. now owns 42,084 shares of the company's stock valued at $366,000 after purchasing an additional 1,534 shares in the last quarter. Finally, Choreo LLC raised its position in Peloton Interactive by 12.3% in the 4th quarter. Choreo LLC now owns 16,832 shares of the company's stock valued at $150,000 after purchasing an additional 1,838 shares during the last quarter. Institutional investors and hedge funds own 77.01% of the company's stock.

Peloton Interactive Trading Down 0.8%

Shares of PTON stock traded down $0.05 on Monday, hitting $6.29. 11,611,886 shares of the stock were exchanged, compared to its average volume of 15,519,818. The firm has a market capitalization of $2.45 billion, a P/E ratio of -8.17 and a beta of 2.25. Peloton Interactive, Inc. has a fifty-two week low of $2.83 and a fifty-two week high of $10.90. The business has a 50-day moving average of $6.24 and a 200 day moving average of $7.80.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PTON shares. Canaccord Genuity Group raised shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 price objective on the stock in a report on Friday, March 14th. Macquarie upgraded shares of Peloton Interactive from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $9.00 to $10.00 in a report on Tuesday, May 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Peloton Interactive in a report on Friday, May 9th. JPMorgan Chase & Co. cut their price target on Peloton Interactive from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, JMP Securities reiterated a "market perform" rating on shares of Peloton Interactive in a report on Monday, April 14th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $8.30.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 170,819 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 owns 275,212 shares of the company's stock, valued at $2,647,539.44. The trade was a 38.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew S. Rendich sold 121,883 shares of the company'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 sale, the insider now directly owns 404,188 shares in the company, valued at $3,855,953.52. This trade represents a 23.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 674,338 shares of company stock worth $5,522,838. Insiders own 1.34% of the company's stock.

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.