Cubist Systematic Strategies LLC Grows Holdings in Peloton Interactive, Inc. (NASDAQ:PTON)

Cubist Systematic Strategies LLC increased its position in Peloton Interactive, Inc. (NASDAQ:PTON) by 99.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,208 shares of the company’s stock after purchasing an additional 28,070 shares during the period. Cubist Systematic Strategies LLC’s holdings in Peloton Interactive were worth $190,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PTON. Mercer Global Advisors Inc. ADV bought a new position in Peloton Interactive in the 2nd quarter worth about $27,000. Skylands Capital LLC bought a new position in Peloton Interactive in the 2nd quarter worth about $30,000. Nisa Investment Advisors LLC boosted its stake 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 in the last quarter. Schneider Downs Wealth Management Advisors LP bought a new position in Peloton Interactive in the 2nd quarter worth about $35,000. Finally, CIBC Asset Management Inc bought a new position in Peloton Interactive in the 2nd quarter worth about $35,000. Institutional investors own 77.01% of the company’s stock.

Wall Street Analyst Weigh In

PTON has been the topic of several research analyst reports. BMO Capital Markets restated a “market perform” rating and set a $6.50 target price on shares of Peloton Interactive in a research note on Tuesday, October 1st. Canaccord Genuity Group upped their target price on shares of Peloton Interactive from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Macquarie restated a “neutral” rating and set a $2.53 target price on shares of Peloton Interactive in a research note on Thursday, August 22nd. JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. cut shares of Peloton Interactive from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $7.00 to $5.00 in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Peloton Interactive currently has a consensus rating of “Hold” and a consensus target price of $4.52.

Insider Activity

In other news, CAO Saqib Baig sold 50,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 87,014 shares in the company, valued at approximately $424,628.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Saqib Baig sold 50,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $4.88, for a total value of $244,000.00. Following the completion of the sale, the chief accounting officer now directly owns 87,014 shares in the company, valued at $424,628.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elizabeth F. Coddington sold 36,819 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $4.74, for a total value of $174,522.06. Following the completion of the sale, the chief financial officer now owns 171,466 shares of the company’s stock, valued at approximately $812,748.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,016 shares of company stock worth $722,587. 3.28% of the stock is currently owned by insiders.

Peloton Interactive Price Performance

Shares of PTON opened at $5.40 on Tuesday. Peloton Interactive, Inc. has a 1 year low of $2.70 and a 1 year high of $7.24. The company has a 50 day simple moving average of $4.30 and a two-hundred day simple moving average of $3.83. The firm has a market cap of $2.00 billion, a P/E ratio of -2.56 and a beta of 2.04.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, August 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.10. The company had revenue of $644.00 million for the quarter, compared to analysts’ expectations of $633.00 million. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned ($0.68) earnings per share. On average, sell-side analysts anticipate that Peloton Interactive, Inc. will post -0.65 earnings per share 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.