MetLife Investment Management LLC Boosts Stock Position in Peloton Interactive, Inc. (NASDAQ:PTON)

MetLife Investment Management LLC boosted its holdings in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 211,123 shares of the company’s stock after purchasing an additional 15,462 shares during the period. MetLife Investment Management LLC owned about 0.06% of Peloton Interactive worth $1,837,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Peloton Interactive by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 35,059,790 shares of the company’s stock valued at $305,020,000 after buying an additional 1,645,640 shares during the period. Hennessy Advisors Inc. purchased a new position in shares of Peloton Interactive during the 4th quarter worth approximately $85,260,000. Geode Capital Management LLC raised its position in shares of Peloton Interactive by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 8,270,328 shares of the company’s stock worth $71,969,000 after acquiring an additional 170,901 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Peloton Interactive by 59.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,833,700 shares of the company’s stock valued at $50,753,000 after purchasing an additional 2,176,400 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Peloton Interactive during the fourth quarter valued at approximately $39,992,000. Institutional investors own 77.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PTON. The Goldman Sachs Group raised their price objective on Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Argus raised shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Tuesday, February 11th. Morgan Stanley decreased their target price on shares of Peloton Interactive from $5.75 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research report on Thursday, February 6th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $11.00 price objective on shares of Peloton Interactive in a research report on Monday, February 3rd. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Peloton Interactive presently has a consensus rating of “Hold” and an average price target of $8.59.

Insider Buying and Selling

In other news, insider Andrew S. Rendich sold 121,883 shares of Peloton Interactive stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total transaction of $1,162,763.82. Following the transaction, the insider now owns 404,188 shares in the company, valued at $3,855,953.52. This trade represents a 23.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $220,954.50. Following the completion of the sale, the chief accounting officer now owns 130,031 shares of the company’s stock, valued at $1,267,802.25. This trade represents a 14.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 674,338 shares of company stock valued at $5,522,838. 1.34% of the stock is owned by insiders.

Peloton Interactive Trading Up 5.0 %

NASDAQ:PTON opened at $6.93 on Wednesday. The company has a market cap of $2.70 billion, a PE ratio of -9.00 and a beta of 2.21. The company has a 50 day simple moving average of $6.37 and a two-hundred day simple moving average of $7.74. Peloton Interactive, Inc. has a 12 month low of $2.70 and a 12 month high of $10.90.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). Research analysts forecast that Peloton Interactive, Inc. will post -0.36 earnings per share for the current 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.