Deerfield Management Company L.P. Series C Makes New $281,000 Investment in Peloton Interactive, Inc. (NASDAQ:PTON)

Deerfield Management Company L.P. Series C bought a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) during the 2nd quarter, HoldingsChannel reports. The firm bought 83,256 shares of the company’s stock, valued at approximately $281,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Peloton Interactive by 4.0% during the first quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock valued at $135,212,000 after purchasing an additional 1,215,397 shares during the period. Capital World Investors increased its stake in Peloton Interactive by 17.6% during the 4th quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock worth $159,919,000 after buying an additional 3,925,000 shares during the period. DNB Asset Management AS lifted its holdings in Peloton Interactive by 42.4% in the 2nd quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after buying an additional 3,611,069 shares in the last quarter. DME Capital Management LP purchased a new position in Peloton Interactive in the 2nd quarter valued at about $22,947,000. Finally, Patient Capital Management LLC grew its stake in shares of Peloton Interactive by 32.7% during the fourth quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock valued at $37,735,000 after acquiring an additional 1,527,471 shares in the last quarter. 77.01% of the stock is owned by institutional investors and hedge funds.

Peloton Interactive Stock Performance

Shares of PTON opened at $4.81 on Friday. The firm has a fifty day moving average of $4.03 and a 200-day moving average of $3.80. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -2.28 and a beta of 2.04. Peloton Interactive, Inc. has a 1 year low of $2.70 and a 1 year high of $7.24.

Peloton Interactive (NASDAQ:PTON) last posted its earnings results 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 firm had revenue of $644.00 million for the quarter, compared to analyst estimates of $633.00 million. During the same period in the previous year, the firm earned ($0.68) earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. Analysts predict that Peloton Interactive, Inc. will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Morgan Stanley increased their price target on Peloton Interactive from $2.50 to $3.50 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Wolfe Research initiated coverage on shares of Peloton Interactive in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research note on Tuesday, July 2nd. Telsey Advisory Group increased their price objective on shares of Peloton Interactive from $4.00 to $5.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Finally, Canaccord Genuity Group boosted their target price on shares of Peloton Interactive from $4.00 to $5.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.60.

Insider Buying and Selling

In other Peloton Interactive news, CAO Saqib Baig sold 50,000 shares of the business’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 completion of the transaction, the chief accounting officer now owns 87,014 shares in the company, valued at approximately $424,628.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Saqib Baig sold 50,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were 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 in the company, valued at $424,628.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elizabeth F. Coddington sold 36,819 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $4.74, for a total transaction of $174,522.06. Following the transaction, the chief financial officer now owns 171,466 shares in the company, valued at approximately $812,748.84. The disclosure for this sale can be found here. Insiders sold 172,857 shares of company stock valued at $771,710 in the last three months. 3.28% of the stock is currently owned by corporate insiders.

About Peloton Interactive

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.