KLP Kapitalforvaltning AS Takes Position in Peloton Interactive, Inc. (NASDAQ:PTON)

KLP Kapitalforvaltning AS purchased a new stake in Peloton Interactive, Inc. (NASDAQ:PTON) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 66,700 shares of the company’s stock, valued at approximately $580,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in Peloton Interactive in the 3rd quarter valued at $327,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Peloton Interactive by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,996,356 shares of the company’s stock valued at $18,703,000 after purchasing an additional 291,946 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Peloton Interactive in the third quarter valued at about $518,000. Townsquare Capital LLC lifted its position in shares of Peloton Interactive by 49.0% during the third quarter. Townsquare Capital LLC now owns 18,108 shares of the company’s stock valued at $85,000 after purchasing an additional 5,957 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Peloton Interactive by 129.1% during the third quarter. MetLife Investment Management LLC now owns 195,661 shares of the company’s stock worth $916,000 after purchasing an additional 110,247 shares during the last quarter. Institutional investors own 77.01% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jennifer Cunningham Cotter sold 187,238 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $6.45, for a total value of $1,207,685.10. Following the completion of the sale, the insider now directly owns 100,269 shares in the company, valued at $646,735.05. This represents a 65.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Andrew S. Rendich sold 121,883 shares of Peloton Interactive stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total value of $1,162,763.82. Following the transaction, the insider now directly owns 404,188 shares in the company, valued at approximately $3,855,953.52. The trade was a 23.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 674,338 shares of company stock valued at $5,522,838. 1.34% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on PTON. Macquarie reaffirmed a “neutral” rating and set a $9.00 price target on shares of Peloton Interactive in a research report on Monday, February 10th. Telsey Advisory Group reiterated a “market perform” rating and set a $11.00 target price on shares of Peloton Interactive in a research note on Monday, February 3rd. Argus raised shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Tuesday, February 11th. Canaccord Genuity Group upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Friday, March 14th. Finally, The Goldman Sachs Group boosted their target price on shares of Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Fifteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.69.

Peloton Interactive Stock Performance

PTON stock opened at $6.31 on Thursday. The firm has a 50 day moving average price of $7.60 and a 200-day moving average price of $7.62. Peloton Interactive, Inc. has a 52-week low of $2.70 and a 52-week high of $10.90. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -8.19 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). As a group, sell-side analysts forecast that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal 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.