Renaissance Technologies LLC Purchases 160,700 Shares of Peloton Interactive, Inc. $PTON

Renaissance Technologies LLC grew its position in Peloton Interactive, Inc. (NASDAQ:PTON) by 41.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 544,900 shares of the company’s stock after purchasing an additional 160,700 shares during the period. Renaissance Technologies LLC’s holdings in Peloton Interactive were worth $2,338,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sankala Group LLC purchased a new position in shares of Peloton Interactive in the 4th quarter worth approximately $31,000. Cora Capital Advisors LLC purchased a new position in shares of Peloton Interactive in the 1st quarter worth about $43,000. Advisory Services Network LLC bought a new position in Peloton Interactive during the third quarter valued at about $48,000. waypoint wealth counsel bought a new position in Peloton Interactive during the first quarter valued at about $53,000. Finally, MQS Management LLC purchased a new stake in Peloton Interactive during the first quarter worth about $55,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Peloton Interactive news, CFO Saqib Baig sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $5.66, for a total transaction of $28,300.00. Following the completion of the transaction, the chief financial officer owned 234,046 shares of the company’s stock, valued at $1,324,700.36. This represents a 2.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dion C. Sanders sold 112,523 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $5.19, for a total value of $583,994.37. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 160,769 shares of company stock worth $844,525 over the last three months. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PTON. Telsey Advisory Group restated a “market perform” rating on shares of Peloton Interactive in a research note on Monday, August 3rd. UBS Group reissued a “buy” rating on shares of Peloton Interactive in a report on Monday, June 15th. The Goldman Sachs Group raised their target price on Peloton Interactive from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Weiss Ratings raised shares of Peloton Interactive from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen upgraded Peloton Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.94.

Peloton Interactive Stock Down 3.0%

NASDAQ:PTON opened at $5.51 on Tuesday. The firm has a market capitalization of $2.39 billion, a P/E ratio of 45.92, a P/E/G ratio of 0.37 and a beta of 2.52. The company has a fifty day moving average of $5.96 and a 200 day moving average of $5.22. Peloton Interactive, Inc. has a 52 week low of $3.65 and a 52 week high of $9.20.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $607.70 million for the quarter, compared to analyst estimates of $596.60 million. Peloton Interactive had a net margin of 2.58% and a negative return on equity of 23.92%. The company’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 EPS. As a group, analysts anticipate that Peloton Interactive, Inc. will post 0.3 EPS for the current year.

Peloton Interactive Profile

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.