Seelaus Asset Management LLC Reduces Stock Holdings in Peloton Interactive, Inc. (NASDAQ:PTON)

Seelaus Asset Management LLC cut its position in Peloton Interactive, Inc. (NASDAQ:PTON) by 50.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 30,000 shares of the company’s stock after selling 30,000 shares during the period. Seelaus Asset Management LLC’s holdings in Peloton Interactive were worth $140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Peloton Interactive by 4.0% in 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. DNB Asset Management AS boosted its holdings in shares of Peloton Interactive by 42.4% in the second quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after acquiring an additional 3,611,069 shares during the period. DME Capital Management LP purchased a new position in shares of Peloton Interactive in the second quarter valued at $22,947,000. Clearline Capital LP bought a new position in shares of Peloton Interactive in the second quarter valued at approximately $7,527,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Peloton Interactive in the 1st quarter worth about $5,877,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PTON shares. Bank of America upgraded shares of Peloton Interactive from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $3.75 to $9.00 in a research report on Monday, November 4th. Robert W. Baird increased their price target on shares of Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on shares of Peloton Interactive from $5.00 to $7.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Truist Financial raised their price target on Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a report on Friday, November 1st. Fifteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Peloton Interactive currently has a consensus rating of “Hold” and a consensus target price of $6.75.

Peloton Interactive Stock Performance

PTON stock opened at $7.75 on Friday. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -7.24 and a beta of 1.93. The firm has a 50 day moving average price of $5.80 and a 200-day moving average price of $4.41. Peloton Interactive, Inc. has a 52-week low of $2.70 and a 52-week high of $8.97.

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

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CEO Karen Boone sold 13,484 shares of Peloton Interactive stock in a transaction on Friday, November 1st. The stock was sold at an average price of $8.27, for a total value of $111,512.68. Following the completion of the sale, the chief executive officer now owns 211,459 shares of the company’s stock, valued at approximately $1,748,765.93. This trade represents a 5.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nick V. Caldwell purchased 31,337 shares of the stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $4.25 per share, for a total transaction of $133,182.25. Following the completion of the acquisition, the insider now owns 31,337 shares of the company’s stock, valued at approximately $133,182.25. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 194,888 shares of company stock valued at $1,038,717. 1.34% of the stock is owned by insiders.

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.