3,676,413 Shares in Peloton Interactive, Inc. $PTON Purchased by Technology Crossover Management IX Ltd.

Technology Crossover Management IX Ltd. purchased a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,676,413 shares of the company’s stock, valued at approximately $21,727,601,000. Peloton Interactive comprises 3.1% of Technology Crossover Management IX Ltd.’s investment portfolio, making the stock its 5th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of Peloton Interactive by 232.0% in the second quarter. GAMMA Investing LLC now owns 4,399 shares of the company’s stock worth $26,000 after purchasing an additional 3,074 shares during the last quarter. Sankala Group LLC purchased a new position in shares of Peloton Interactive during the fourth quarter valued at approximately $31,000. Advisory Services Network LLC purchased a new position in shares of Peloton Interactive during the third quarter valued at approximately $48,000. Quarry LP bought a new stake in Peloton Interactive during the third quarter worth $71,000. Finally, Cora Capital Advisors LLC bought a new stake in Peloton Interactive during the first quarter worth $43,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Peloton Interactive

In other news, Director Karen Boone sold 25,000 shares of Peloton Interactive stock in a transaction on Monday, August 17th. The stock was sold at an average price of $5.35, for a total transaction of $133,750.00. Following the sale, the director directly owned 236,063 shares in the company, valued at $1,262,937.05. The trade was a 9.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Saqib Baig sold 36,439 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $5.36, for a total transaction of $195,313.04. Following the completion of the transaction, the chief accounting officer directly owned 272,641 shares in the company, valued at $1,461,355.76. This trade represents a 11.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 74,637 shares of company stock valued at $405,368. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

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

Peloton Interactive Trading Up 0.4%

Shares of PTON opened at $5.31 on Wednesday. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 44.25, a PEG ratio of 0.36 and a beta of 2.52. The stock has a 50 day moving average of $5.91 and a 200 day moving average of $5.20. Peloton Interactive, Inc. has a 12 month low of $3.65 and a 12 month high of $9.20.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Peloton Interactive had a negative return on equity of 23.92% and a net margin of 2.58%.The business had revenue of $607.70 million for the quarter, compared to analyst estimates of $596.60 million. During the same period last year, the company posted $0.05 earnings per share. Peloton Interactive’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities research analysts predict that Peloton Interactive, Inc. will post 0.31 earnings per share for the current year.

Peloton Interactive Company 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.