Charles Schwab Investment Management Inc. Grows Stake in Peloton Interactive, Inc. (NASDAQ:PTON)

Charles Schwab Investment Management Inc. raised its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 7.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,996,356 shares of the company’s stock after purchasing an additional 291,946 shares during the period. Charles Schwab Investment Management Inc. owned 1.05% of Peloton Interactive worth $18,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PTON. Mercer Global Advisors Inc. ADV bought a new position in Peloton Interactive during the second quarter valued at $27,000. Skylands Capital LLC bought a new position in Peloton Interactive during the 2nd quarter valued at about $30,000. Nisa Investment Advisors LLC raised its position in Peloton Interactive by 1,836.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock worth $32,000 after purchasing an additional 9,000 shares during the period. Schneider Downs Wealth Management Advisors LP purchased a new position in shares of Peloton Interactive during the second quarter valued at approximately $35,000. Finally, CIBC Asset Management Inc purchased a new position in shares of Peloton Interactive during the second quarter valued at approximately $35,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Peloton Interactive from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Morgan Stanley upped their target price on shares of Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research report on Friday, November 1st. UBS Group upgraded Peloton Interactive from a “sell” rating to a “neutral” rating and boosted their price target for the company from $2.50 to $10.00 in a report on Friday. Finally, Truist Financial raised their price objective on Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Sixteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Peloton Interactive presently has a consensus rating of “Hold” and a consensus target price of $6.97.

Insider Activity

In related news, CEO Chris Bruzzo sold 24,977 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $5.80, for a total transaction of $144,866.60. Following the sale, the chief executive officer now owns 149,240 shares in the company, valued at approximately $865,592. This trade represents a 14.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew S. Rendich sold 138,391 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $7.51, for a total value of $1,039,316.41. Following the transaction, the insider now owns 287,973 shares in the company, valued at $2,162,677.23. This represents a 32.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 467,358 shares of company stock worth $3,435,118 over the last 90 days. 1.34% of the stock is currently owned by corporate insiders.

Peloton Interactive Stock Up 3.7 %

NASDAQ:PTON opened at $10.01 on Friday. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of -9.36 and a beta of 1.90. Peloton Interactive, Inc. has a 52 week low of $2.70 and a 52 week high of $10.59. The firm has a 50 day moving average of $7.10 and a 200 day moving average of $4.94.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $586.00 million during the quarter, compared to analysts’ expectations of $572.97 million. During the same period last year, the firm earned ($0.44) earnings per share. Peloton Interactive’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, analysts expect that Peloton Interactive, Inc. will post -0.38 EPS for the current year.

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.