Peloton Interactive, Inc. $PTON Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its position in Peloton Interactive, Inc. (NASDAQ:PTON) by 25.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,778,238 shares of the company’s stock after selling 1,668,589 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 1.17% of Peloton Interactive worth $43,004,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Peloton Interactive by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 38,636,291 shares of the company’s stock worth $347,727,000 after acquiring an additional 811,585 shares in the last quarter. Voya Investment Management LLC lifted its stake in Peloton Interactive by 325.5% during the third quarter. Voya Investment Management LLC now owns 429,929 shares of the company’s stock worth $3,869,000 after purchasing an additional 328,894 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in Peloton Interactive by 322.9% in the third quarter. Jupiter Asset Management Ltd. now owns 1,563,249 shares of the company’s stock valued at $14,069,000 after purchasing an additional 1,193,597 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in Peloton Interactive in the third quarter valued at approximately $2,429,000. Finally, Geode Capital Management LLC raised its holdings in Peloton Interactive by 5.7% during the second quarter. Geode Capital Management LLC now owns 9,141,542 shares of the company’s stock worth $63,450,000 after purchasing an additional 490,353 shares in the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Charles Peter Kirol sold 6,419 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $4.14, for a total value of $26,574.66. Following the completion of the sale, the chief operating officer directly owned 88,408 shares of the company’s stock, valued at approximately $366,009.12. This represents a 6.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nick V. Caldwell sold 50,570 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $4.15, for a total transaction of $209,865.50. Following the sale, the insider owned 807,847 shares of the company’s stock, valued at $3,352,565.05. This trade represents a 5.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,074,910 shares of company stock valued at $5,113,049. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PTON has been the subject of several recent analyst reports. Bank of America set a $9.00 price objective on shares of Peloton Interactive in a research report on Friday, January 30th. JPMorgan Chase & Co. cut their price target on shares of Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. Guggenheim started coverage on shares of Peloton Interactive in a research report on Wednesday, December 10th. They issued a “neutral” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Peloton Interactive in a research note on Friday, January 9th. Finally, Wall Street Zen lowered Peloton Interactive from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.42.

Peloton Interactive Trading Down 2.3%

Shares of PTON opened at $3.77 on Friday. The company’s 50 day simple moving average is $5.11 and its 200-day simple moving average is $6.53. The firm has a market cap of $1.60 billion, a PE ratio of -29.00, a price-to-earnings-growth ratio of 0.76 and a beta of 2.47. Peloton Interactive, Inc. has a 12-month low of $3.68 and a 12-month high of $9.20.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.24) EPS. As a group, equities research analysts forecast that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal 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.