Peloton Interactive, Inc. (NASDAQ:PTON) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System grew its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 412.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 596,477 shares of the company’s stock after purchasing an additional 480,000 shares during the quarter. State of Michigan Retirement System’s holdings in Peloton Interactive were worth $2,556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PTON. Capital World Investors raised its holdings in Peloton Interactive by 17.6% during the fourth quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock worth $159,919,000 after purchasing an additional 3,925,000 shares in the last quarter. Norges Bank acquired a new position in shares of Peloton Interactive in the 4th quarter valued at $20,824,000. DNB Asset Management AS raised its position in Peloton Interactive by 31.7% in the 4th quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock valued at $51,076,000 after purchasing an additional 2,020,159 shares during the last quarter. Patient Capital Management LLC raised its position in Peloton Interactive by 32.7% in the 4th quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock valued at $37,735,000 after purchasing an additional 1,527,471 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Peloton Interactive by 612.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,235,350 shares of the company’s stock valued at $6,239,000 after purchasing an additional 1,061,868 shares during the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on PTON shares. JPMorgan Chase & Co. reduced their price target on shares of Peloton Interactive from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Robert W. Baird upped their price target on shares of Peloton Interactive from $3.50 to $4.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a research report on Friday, May 3rd. The Goldman Sachs Group reduced their price target on shares of Peloton Interactive from $5.75 to $3.50 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Finally, Bank of America cut their price objective on shares of Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating for the company in a research report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.09.

Insider Transactions at Peloton Interactive

In other news, CEO Karen Boone sold 14,841 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $3.31, for a total transaction of $49,123.71. Following the transaction, the chief executive officer now directly owns 116,171 shares of the company’s stock, valued at approximately $384,526.01. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Andrew S. Rendich sold 27,741 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $3.91, for a total value of $108,467.31. Following the sale, the insider now directly owns 113,288 shares of the company’s stock, valued at approximately $442,956.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Karen Boone sold 14,841 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $3.31, for a total transaction of $49,123.71. Following the completion of the sale, the chief executive officer now directly owns 116,171 shares in the company, valued at $384,526.01. The disclosure for this sale can be found here. Insiders have sold a total of 66,441 shares of company stock valued at $244,496 in the last ninety days. 3.28% of the stock is currently owned by company insiders.

Peloton Interactive Stock Down 0.6 %

NASDAQ:PTON opened at $3.37 on Thursday. Peloton Interactive, Inc. has a fifty-two week low of $2.70 and a fifty-two week high of $9.87. The firm’s fifty day simple moving average is $3.59 and its 200-day simple moving average is $4.38.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The firm had revenue of $717.70 million for the quarter, compared to analyst estimates of $720.85 million. During the same quarter in the previous year, the business posted ($0.79) earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, analysts forecast that Peloton Interactive, Inc. will post -1.62 EPS for the current year.

Peloton Interactive Company 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.