Scopia Capital Management LP Sells 1,570,776 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

Scopia Capital Management LP lowered its holdings in Peloton Interactive, Inc. (NASDAQ:PTON) by 40.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,303,841 shares of the company’s stock after selling 1,570,776 shares during the quarter. Peloton Interactive accounts for about 2.2% of Scopia Capital Management LP’s investment portfolio, making the stock its 25th biggest position. Scopia Capital Management LP’s holdings in Peloton Interactive were worth $10,782,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Peloton Interactive by 4.0% during the first quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after buying an additional 1,215,397 shares during the last quarter. Gtcr LLC bought a new stake in Peloton Interactive during the third quarter worth about $65,520,000. DNB Asset Management AS grew its stake in Peloton Interactive by 42.4% during the second quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after buying an additional 3,611,069 shares during the last quarter. DME Capital Management LP bought a new stake in Peloton Interactive during the second quarter worth about $22,947,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Peloton Interactive by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,996,356 shares of the company’s stock worth $18,703,000 after buying an additional 291,946 shares during the last quarter. Institutional investors own 77.01% of the company’s stock.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $5.80, for a total transaction of $144,866.60. Following the completion of the transaction, the chief executive officer now owns 149,240 shares in the company, valued at approximately $865,592. This represents a 14.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elizabeth F. Coddington sold 56,084 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total value of $252,378.00. Following the completion of the sale, the chief financial officer now owns 186,466 shares in the company, valued at approximately $839,097. This trade represents a 23.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 506,517 shares of company stock valued at $3,524,339. Corporate insiders own 1.34% of the company’s stock.

Analyst Upgrades and Downgrades

PTON has been the topic of a number of research reports. Roth Mkm upped their target price on shares of Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Canaccord Genuity Group upped their target price on shares of Peloton Interactive from $4.00 to $5.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Telsey Advisory Group upped their target price on shares of Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a research report on Friday, November 1st. Finally, Truist Financial upped their target price on shares of Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Fifteen research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.75.

Peloton Interactive Price Performance

Shares of NASDAQ PTON opened at $10.34 on Friday. Peloton Interactive, Inc. has a fifty-two week low of $2.70 and a fifty-two week high of $10.39. The firm has a market capitalization of $3.94 billion, a P/E ratio of -9.66 and a beta of 1.93. The company’s 50 day simple moving average is $6.72 and its 200 day simple moving average is $4.78.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $586.00 million for the quarter, compared to analysts’ expectations of $572.97 million. During the same period in the previous year, the firm earned ($0.44) earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts expect that Peloton Interactive, Inc. will post -0.38 EPS for the current fiscal year.

Peloton Interactive Company 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.