Arrow Capital Pty Ltd Purchases New Shares in Peloton Interactive, Inc. $PTON

Arrow Capital Pty Ltd acquired a new position in shares of Peloton Interactive, Inc. (NASDAQ:PTON) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 376,072 shares of the company’s stock, valued at approximately $2,610,000. Peloton Interactive comprises about 1.9% of Arrow Capital Pty Ltd’s portfolio, making the stock its 26th biggest position. Arrow Capital Pty Ltd owned approximately 0.10% of Peloton Interactive as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PTON. T. Rowe Price Investment Management Inc. raised its position in Peloton Interactive by 29.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 21,760,678 shares of the company’s stock worth $137,528,000 after purchasing an additional 4,940,422 shares during the last quarter. Nuveen LLC bought a new position in Peloton Interactive in the 1st quarter valued at $23,239,000. DNB Asset Management AS increased its stake in shares of Peloton Interactive by 592.6% in the 2nd quarter. DNB Asset Management AS now owns 3,711,752 shares of the company’s stock valued at $25,760,000 after buying an additional 3,175,861 shares during the period. Vanguard Group Inc. increased its stake in shares of Peloton Interactive by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 37,246,652 shares of the company’s stock valued at $235,399,000 after buying an additional 2,186,862 shares during the period. Finally, Jump Financial LLC raised its position in shares of Peloton Interactive by 236.5% during the first quarter. Jump Financial LLC now owns 2,394,660 shares of the company’s stock worth $15,134,000 after acquiring an additional 1,683,053 shares during the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

Analysts Set New Price Targets

PTON has been the topic of a number of research reports. Macquarie upped their target price on shares of Peloton Interactive from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Zacks Research lowered shares of Peloton Interactive from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $11.50 price objective on shares of Peloton Interactive in a research note on Thursday, October 2nd. Morgan Stanley lifted their target price on shares of Peloton Interactive from $6.00 to $6.50 and gave the stock an “equal weight” rating in a report on Wednesday, November 19th. Finally, Wall Street Zen cut shares of Peloton Interactive from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.86.

Peloton Interactive Price Performance

Shares of PTON stock opened at $6.77 on Wednesday. The company has a fifty day moving average price of $7.26 and a two-hundred day moving average price of $7.28. Peloton Interactive, Inc. has a one year low of $4.63 and a one year high of $10.90. The stock has a market cap of $2.83 billion, a P/E ratio of -24.18, a P/E/G ratio of 1.87 and a beta of 2.46.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $550.80 million during the quarter, compared to analyst estimates of $540.61 million. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Insider Transactions at Peloton Interactive

In other Peloton Interactive news, CAO Saqib Baig sold 42,267 shares of Peloton Interactive stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.25, for a total value of $306,435.75. Following the transaction, the chief accounting officer owned 193,052 shares in the company, valued at $1,399,627. The trade was a 17.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dion C. Sanders sold 111,036 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $6.64, for a total transaction of $737,279.04. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,860,696 shares of company stock worth $13,932,164. 1.30% of the stock is owned by insiders.

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.