Fund 1 Investments LLC Buys New Stake in Peloton Interactive, Inc. (NASDAQ:PTON)

Fund 1 Investments LLC acquired a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 797,500 shares of the company’s stock, valued at approximately $6,938,000. Peloton Interactive comprises 0.6% of Fund 1 Investments LLC’s holdings, making the stock its 29th largest position. Fund 1 Investments LLC owned about 0.21% of Peloton Interactive at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Peloton Interactive in the fourth quarter valued at approximately $28,000. Russell Investments Group Ltd. grew its position in shares of Peloton Interactive by 969.6% in the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock valued at $35,000 after purchasing an additional 3,636 shares during the period. Comerica Bank grew its position in Peloton Interactive by 29.1% in the fourth quarter. Comerica Bank now owns 6,164 shares of the company’s stock worth $54,000 after acquiring an additional 1,389 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Peloton Interactive in the fourth quarter valued at $69,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Peloton Interactive during the 4th quarter worth $72,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Argus raised shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Tuesday, February 11th. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research report on Thursday, February 6th. The Goldman Sachs Group lifted their price objective on Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. decreased their price target on shares of Peloton Interactive from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a report on Monday, April 14th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.48.

Insiders Place Their Bets

In other news, CAO Saqib Baig sold 22,662 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total transaction of $220,954.50. Following the completion of the sale, the chief accounting officer now directly owns 130,031 shares in the company, valued at $1,267,802.25. This represents a 14.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Nick V. Caldwell sold 68,727 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.59, for a total value of $452,910.93. Following the completion of the transaction, the insider now directly owns 474,234 shares in the company, valued at $3,125,202.06. This trade represents a 12.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 674,338 shares of company stock worth $5,522,838. 1.34% of the stock is owned by corporate insiders.

Peloton Interactive Stock Down 6.7 %

NASDAQ PTON opened at $6.51 on Friday. Peloton Interactive, Inc. has a 52-week low of $2.83 and a 52-week high of $10.90. The firm has a 50-day moving average price of $6.22 and a 200 day moving average price of $7.79. The stock has a market capitalization of $2.54 billion, a P/E ratio of -8.45 and a beta of 2.25.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The business had revenue of $624.00 million during the quarter, compared to the consensus estimate of $620.39 million. During the same period in the prior year, the business posted ($0.45) earnings per share. The business’s revenue for the quarter was down 13.1% compared to the same quarter last year. On average, equities research analysts expect 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.