Coatue Management LLC Buys 3,162,164 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

Coatue Management LLC grew its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 201.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,729,785 shares of the company’s stock after acquiring an additional 3,162,164 shares during the period. Peloton Interactive comprises 2.3% of Coatue Management LLC’s investment portfolio, making the stock its 19th biggest position. Coatue Management LLC owned approximately 1.59% of Peloton Interactive worth $586,588,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Laurion Capital Management LP bought a new position in shares of Peloton Interactive during the 2nd quarter valued at approximately $5,650,000. Natixis grew its position in shares of Peloton Interactive by 39.5% during the 2nd quarter. Natixis now owns 160,314 shares of the company’s stock valued at $19,882,000 after acquiring an additional 45,360 shares during the period. Toroso Investments LLC bought a new position in shares of Peloton Interactive during the 2nd quarter valued at approximately $518,000. APG Asset Management N.V. grew its position in shares of Peloton Interactive by 384.1% during the 2nd quarter. APG Asset Management N.V. now owns 328,113 shares of the company’s stock valued at $34,314,000 after acquiring an additional 260,335 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Peloton Interactive by 0.5% during the 2nd quarter. California Public Employees Retirement System now owns 598,618 shares of the company’s stock valued at $74,241,000 after acquiring an additional 3,241 shares during the period. 72.09% of the stock is owned by hedge funds and other institutional investors.

In other news, COO Mariana Garavaglia sold 10,417 shares of Peloton Interactive stock in a transaction dated Monday, October 4th. The shares were sold at an average price of $81.88, for a total transaction of $852,943.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Allen J. Klingsick sold 501 shares of Peloton Interactive stock in a transaction dated Friday, August 20th. The shares were sold at an average price of $109.00, for a total transaction of $54,609.00. The disclosure for this sale can be found here. In the last three months, insiders sold 321,470 shares of company stock worth $34,844,302. Insiders own 16.50% of the company’s stock.

NASDAQ:PTON traded up $0.57 during trading hours on Thursday, reaching $87.28. The company’s stock had a trading volume of 65,314 shares, compared to its average volume of 9,362,100. The firm has a market capitalization of $26.23 billion, a price-to-earnings ratio of -123.87 and a beta of 0.63. The firm has a 50-day simple moving average of $101.13 and a 200-day simple moving average of $107.10. Peloton Interactive, Inc. has a 1 year low of $80.48 and a 1 year high of $171.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.27.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Wednesday, August 25th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.60). The business had revenue of $937.00 million during the quarter, compared to analysts’ expectations of $928.64 million. Peloton Interactive had a negative return on equity of 10.11% and a negative net margin of 4.70%. Peloton Interactive’s revenue for the quarter was up 54.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 EPS. Equities analysts anticipate that Peloton Interactive, Inc. will post -1.98 earnings per share for the current fiscal year.

PTON has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Peloton Interactive from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 1st. Truist Securities cut their price objective on shares of Peloton Interactive from $140.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, August 24th. Needham & Company LLC raised their price objective on shares of Peloton Interactive from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, August 26th. Citigroup assumed coverage on shares of Peloton Interactive in a report on Monday, August 30th. They issued a “neutral” rating and a $105.00 price objective for the company. Finally, Roth Capital raised their price target on shares of Peloton Interactive from $105.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 27th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $133.74.

Peloton Interactive Profile

Peloton Interactive, Inc provides interactive fitness products in North America and internationally. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. The company also provides connected fitness subscriptions for multiple household users, and access to all live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

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Institutional Ownership by Quarter for Peloton Interactive (NASDAQ:PTON)

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