Marathon Trading Investment Management LLC Acquires Shares of 32,400 Peloton Interactive, Inc. (NASDAQ:PTON)

Marathon Trading Investment Management LLC acquired a new position in Peloton Interactive, Inc. (NASDAQ:PTON) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 32,400 shares of the company’s stock, valued at approximately $152,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position 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 worth $135,212,000 after buying an additional 1,215,397 shares during the period. DNB Asset Management AS boosted its stake 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 valued at $40,880,000 after purchasing an additional 3,611,069 shares during the period. DME Capital Management LP bought a new position in Peloton Interactive during the 2nd quarter worth $22,947,000. Clearline Capital LP acquired a new position in shares of Peloton Interactive in the 2nd quarter valued at approximately $7,527,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Peloton Interactive in the 1st quarter valued at approximately $5,877,000. Institutional investors own 77.01% of the company’s stock.

Insiders Place Their Bets

In other Peloton Interactive news, insider Nick V. Caldwell acquired 31,337 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $4.25 per share, with a total value of $133,182.25. Following the completion of the purchase, the insider now directly owns 31,337 shares in the company, valued at approximately $133,182.25. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Saqib Baig sold 50,000 shares of Peloton Interactive stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $4.88, for a total transaction of $244,000.00. Following the sale, the chief accounting officer now owns 87,014 shares in the company, valued at approximately $424,628.32. The trade was a 36.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 194,888 shares of company stock valued at $1,038,717. Insiders own 1.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PTON. Canaccord Genuity Group upped their target price on Peloton Interactive from $4.00 to $5.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research report on Friday, November 1st. Robert W. Baird upped their target price on Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Bank of America raised 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 report on Monday, November 4th. Finally, Morgan Stanley raised their target price on Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.75.

Peloton Interactive Trading Down 3.1 %

PTON stock opened at $7.75 on Friday. The firm has a 50 day moving average price of $5.80 and a 200-day moving average price of $4.42. Peloton Interactive, Inc. has a 52-week low of $2.70 and a 52-week high of $8.97.

Peloton Interactive (NASDAQ:PTON) last posted 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 analyst estimates of $572.97 million. During the same period last year, the firm posted ($0.44) earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts predict that Peloton Interactive, Inc. will post -0.38 earnings per share for the current fiscal year.

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.