Verdence Capital Advisors LLC Acquires New Stake in Peloton Interactive, Inc. (NASDAQ:PTON)

Verdence Capital Advisors LLC bought a new position in shares of Peloton Interactive, Inc. (NASDAQ:PTON) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,127 shares of the company’s stock, valued at approximately $52,000.

A number of other large investors have also modified their holdings of the business. Mercer Global Advisors Inc. ADV acquired a new position in shares of Peloton Interactive during the 2nd quarter worth approximately $27,000. Skylands Capital LLC acquired a new stake in shares of Peloton Interactive in the 2nd quarter worth $30,000. Nisa Investment Advisors LLC raised its holdings in shares of Peloton Interactive by 1,836.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock worth $32,000 after acquiring an additional 9,000 shares during the period. Schneider Downs Wealth Management Advisors LP acquired a new position in shares of Peloton Interactive during the 2nd quarter valued at about $35,000. Finally, CIBC Asset Management Inc purchased a new position in Peloton Interactive in the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Peloton Interactive Price Performance

Peloton Interactive stock opened at $8.31 on Wednesday. The business has a 50 day simple moving average of $5.52 and a 200-day simple moving average of $4.29. Peloton Interactive, Inc. has a 12 month low of $2.70 and a 12 month high of $8.97. The stock has a market capitalization of $3.17 billion, a PE ratio of -8.02 and a beta of 1.93.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $586.00 million during the quarter, compared to the consensus estimate of $572.97 million. During the same period in the prior year, the business posted ($0.44) earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Peloton Interactive, Inc. will post -0.38 EPS for the current year.

Insider Activity

In related news, CAO Saqib Baig sold 50,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 87,014 shares of the company’s stock, valued at $424,628.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Peloton Interactive news, insider Nick V. Caldwell acquired 31,337 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average cost of $4.25 per share, with a total value of $133,182.25. Following the purchase, the insider now owns 31,337 shares in the company, valued at approximately $133,182.25. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Saqib Baig sold 50,000 shares of Peloton Interactive stock in a transaction dated 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 approximately $424,628.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 194,888 shares of company stock worth $1,038,717. Company insiders own 1.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PTON shares. Morgan Stanley lifted their price objective on Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Telsey Advisory Group boosted their price target on shares of Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. Truist Financial upped their target price on shares of Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Bank of America upgraded shares of Peloton Interactive from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $3.75 to $9.00 in a research note on Monday, November 4th. Fifteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Peloton Interactive currently has a consensus rating of “Hold” and a consensus price target of $6.75.

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.