DNB Asset Management AS Buys 733,365 Shares of Peloton Interactive, Inc. $PTON

DNB Asset Management AS grew its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 19.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,445,117 shares of the company’s stock after buying an additional 733,365 shares during the period. DNB Asset Management AS owned approximately 1.09% of Peloton Interactive worth $40,006,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. D.A. Davidson & CO. bought a new stake in Peloton Interactive in the second quarter valued at approximately $338,000. Voya Investment Management LLC grew its holdings in shares of Peloton Interactive by 325.5% in the 3rd quarter. Voya Investment Management LLC now owns 429,929 shares of the company’s stock valued at $3,869,000 after buying an additional 328,894 shares during the period. Jupiter Asset Management Ltd. increased its position in shares of Peloton Interactive by 322.9% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,563,249 shares of the company’s stock valued at $14,069,000 after buying an additional 1,193,597 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in Peloton Interactive during the 3rd quarter worth $2,429,000. Finally, Geode Capital Management LLC raised its stake in Peloton Interactive by 5.7% during the 2nd quarter. Geode Capital Management LLC now owns 9,141,542 shares of the company’s stock worth $63,450,000 after buying an additional 490,353 shares during the period. 77.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Peloton Interactive news, insider Jennifer Cunningham Cotter sold 154,497 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $4.41, for a total transaction of $681,331.77. Following the transaction, the insider owned 100,269 shares of the company’s stock, valued at $442,186.29. The trade was a 60.64% 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 Dion C. Sanders sold 146,844 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $4.41, for a total value of $647,582.04. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,079,910 shares of company stock worth $5,144,999 over the last three months. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PTON. Guggenheim initiated coverage on Peloton Interactive in a research note on Wednesday, December 10th. They issued a “neutral” rating for the company. Wall Street Zen lowered Peloton Interactive from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Macquarie Infrastructure raised their target price on shares of Peloton Interactive from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Truist Financial cut their price target on shares of Peloton Interactive from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Finally, Zacks Research downgraded shares of Peloton Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.42.

Peloton Interactive Stock Down 1.0%

NASDAQ PTON opened at $4.08 on Friday. The firm’s 50 day moving average is $5.57 and its 200-day moving average is $6.83. The company has a market capitalization of $1.74 billion, a PE ratio of -31.38, a price-to-earnings-growth ratio of 0.81 and a beta of 2.41. Peloton Interactive, Inc. has a 12-month low of $3.99 and a 12-month high of $9.20.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The company had revenue of $656.50 million for the quarter, compared to analyst estimates of $675.04 million. During the same period in the prior year, the business posted ($0.24) earnings per share. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

About Peloton Interactive

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.