Connor Clark & Lunn Investment Management Ltd. Takes $5.72 Million Position in Peloton Interactive, Inc. (NASDAQ:PTON)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Peloton Interactive, Inc. (NASDAQ:PTON) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,223,097 shares of the company’s stock, valued at approximately $5,724,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its stake in shares of Peloton Interactive by 25,397.7% in the 1st quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock valued at $1,687,000 after purchasing an additional 392,141 shares in the last quarter. Vanguard Group Inc. raised its stake in 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 buying an additional 1,215,397 shares in the last quarter. Evergreen Wealth Solutions LLC bought a new position in Peloton Interactive during the 1st quarter worth approximately $48,000. Jacobs Levy Equity Management Inc. bought a new position in Peloton Interactive during the 1st quarter worth approximately $5,877,000. Finally, DNB Asset Management AS increased its holdings in shares of 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 acquiring an additional 3,611,069 shares during the last quarter. 77.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PTON. Truist Financial raised their price objective on Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. TD Cowen lifted their price target on shares of Peloton Interactive from $3.00 to $4.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Macquarie increased their price objective on shares of Peloton Interactive from $4.90 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. BMO Capital Markets lifted their target price on Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a research note on Monday, November 4th. Finally, Sanford C. Bernstein increased their price target on Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” 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.com, Peloton Interactive presently has an average rating of “Hold” and a consensus price target of $6.75.

Insider Buying and Selling

In other news, CEO Chris Bruzzo sold 24,977 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $5.80, for a total transaction of $144,866.60. Following the completion of the transaction, the chief executive officer now owns 149,240 shares in the company, valued at approximately $865,592. This trade represents a 14.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Elizabeth F. Coddington sold 56,084 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total transaction of $252,378.00. Following the sale, the chief financial officer now directly owns 186,466 shares of the company’s stock, valued at approximately $839,097. This represents a 23.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 506,517 shares of company stock valued at $3,524,339 over the last quarter. Corporate insiders own 1.34% of the company’s stock.

Peloton Interactive Stock Performance

NASDAQ:PTON opened at $9.54 on Friday. Peloton Interactive, Inc. has a 1 year low of $2.70 and a 1 year high of $9.78. The business has a fifty day moving average of $6.21 and a 200-day moving average of $4.59. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of -8.92 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 the consensus estimate of ($0.15) by ($0.01). The business had revenue of $586.00 million for the quarter, compared to analysts’ expectations of $572.97 million. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.44) earnings per share. On average, equities research analysts predict that Peloton Interactive, Inc. will post -0.38 EPS for the current year.

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.