478,000 Shares in Peloton Interactive, Inc. (NASDAQ:PTON) Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 478,000 shares of the company’s stock, valued at approximately $1,616,000. Renaissance Technologies LLC owned about 0.13% of Peloton Interactive as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Abundance Wealth Counselors boosted its stake in Peloton Interactive by 24.7% during the 2nd quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock valued at $45,000 after purchasing an additional 2,654 shares during the last quarter. Signaturefd LLC grew its position in Peloton Interactive by 2.7% in the 2nd quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock worth $384,000 after purchasing an additional 3,032 shares during the period. Arizona State Retirement System raised its stake in Peloton Interactive by 3.8% during the 2nd quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock valued at $314,000 after buying an additional 3,377 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Peloton Interactive by 4.3% in the second quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company’s stock worth $452,000 after purchasing an additional 5,463 shares during the last quarter. Finally, Swiss National Bank grew its position in Peloton Interactive by 1.2% during the first quarter. Swiss National Bank now owns 642,200 shares of the company’s stock valued at $2,752,000 after buying an additional 7,600 shares during the period. Institutional investors own 77.01% of the company’s stock.

Insider Activity

In related news, CAO Saqib Baig sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $4.88, for a total transaction of $244,000.00. Following the completion of the transaction, the chief accounting officer now owns 87,014 shares in the company, valued at approximately $424,628.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Peloton Interactive news, CEO Chris Bruzzo sold 15,113 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $3.42, for a total value of $51,686.46. Following the sale, the chief executive officer now directly owns 97,433 shares of the company’s stock, valued at $333,220.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Saqib Baig sold 50,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $4.88, for a total transaction of $244,000.00. Following the transaction, the chief accounting officer now owns 87,014 shares of the company’s stock, valued at $424,628.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,016 shares of company stock worth $722,587. 3.28% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PTON shares. Morgan Stanley boosted their price objective on shares of Peloton Interactive from $2.50 to $3.50 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. TD Cowen lifted their price objective on Peloton Interactive from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Roth Mkm boosted their price objective on Peloton Interactive from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Sanford C. Bernstein lifted their price target on shares of Peloton Interactive from $3.80 to $4.25 and gave the company a “market perform” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $6.50 price objective on shares of Peloton Interactive in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.60.

Peloton Interactive Stock Performance

Shares of PTON opened at $4.66 on Friday. The stock has a market capitalization of $1.75 billion, a PE ratio of -2.21 and a beta of 2.04. The company’s fifty day moving average is $4.11 and its 200 day moving average is $3.81. Peloton Interactive, Inc. has a fifty-two week low of $2.70 and a fifty-two week high of $7.24.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, August 22nd. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.10. The business had revenue of $644.00 million during the quarter, compared to the consensus estimate of $633.00 million. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.68) EPS. As a group, research analysts forecast that Peloton Interactive, Inc. will post -0.65 earnings per share for the current year.

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.