Norges Bank Acquires Shares of 3,862,925 Peloton Interactive, Inc. $PTON

Norges Bank acquired a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,862,925 shares of the company’s stock, valued at approximately $23,796,000.

Other institutional investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in shares of Peloton Interactive in the 3rd quarter worth approximately $48,000. Quarry LP acquired a new position in shares of Peloton Interactive in the 3rd quarter worth approximately $71,000. Occudo Quantitative Strategies LP acquired a new position in shares of Peloton Interactive in the 2nd quarter worth approximately $74,000. Rakuten Securities Inc. boosted its holdings in shares of Peloton Interactive by 163.9% in the 4th quarter. Rakuten Securities Inc. now owns 11,951 shares of the company’s stock worth $74,000 after acquiring an additional 7,422 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its holdings in shares of Peloton Interactive by 11.9% in the 3rd quarter. Cresset Asset Management LLC now owns 12,748 shares of the company’s stock worth $115,000 after acquiring an additional 1,354 shares in the last quarter. 77.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PTON. Weiss Ratings raised Peloton Interactive from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Citigroup reduced their target price on Peloton Interactive from $8.25 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Zacks Research downgraded Peloton Interactive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Wall Street Zen raised Peloton Interactive from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Argus downgraded Peloton Interactive from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $8.25.

Insider Activity

In other Peloton Interactive news, CFO Saqib Baig sold 29,075 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.27, for a total transaction of $153,225.25. Following the transaction, the chief financial officer owned 250,019 shares of the company’s stock, valued at approximately $1,317,600.13. This represents a 10.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elizabeth F. Coddington sold 21,819 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $3.87, for a total transaction of $84,439.53. Following the sale, the chief financial officer owned 346,535 shares of the company’s stock, valued at $1,341,090.45. The trade was a 5.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 255,498 shares of company stock worth $1,245,332. 1.30% of the stock is owned by company insiders.

Peloton Interactive Stock Performance

NASDAQ:PTON opened at $5.57 on Wednesday. The stock’s fifty day moving average price is $5.26 and its two-hundred day moving average price is $5.36. Peloton Interactive, Inc. has a 52-week low of $3.65 and a 52-week high of $9.20. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 139.28, a P/E/G ratio of 0.96 and a beta of 2.54.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Peloton Interactive had a negative return on equity of 6.95% and a net margin of 0.94%.During the same period last year, the company posted ($0.12) EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts predict that Peloton Interactive, Inc. will post 0.13 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.