Hennessy Advisors Inc. Takes $85.26 Million Position in Peloton Interactive, Inc. (NASDAQ:PTON)

Hennessy Advisors Inc. bought a new position in shares of Peloton Interactive, Inc. (NASDAQ:PTON) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 9,800,000 shares of the company’s stock, valued at approximately $85,260,000. Peloton Interactive accounts for about 2.5% of Hennessy Advisors Inc.’s holdings, making the stock its largest position. Hennessy Advisors Inc. owned about 2.57% of Peloton Interactive at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. PDT Partners LLC grew its position in shares of Peloton Interactive by 0.7% during the third quarter. PDT Partners LLC now owns 205,573 shares of the company’s stock worth $962,000 after buying an additional 1,373 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in Peloton Interactive by 31.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock worth $31,000 after acquiring an additional 1,597 shares in the last quarter. Kohmann Bosshard Financial Services LLC lifted its position in shares of Peloton Interactive by 50.0% during the 3rd quarter. Kohmann Bosshard Financial Services LLC now owns 15,000 shares of the company’s stock worth $70,000 after purchasing an additional 5,000 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Peloton Interactive by 4.3% in the second quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company’s stock valued at $452,000 after buying an additional 5,463 shares during the last quarter. Finally, Townsquare Capital LLC lifted its holdings in Peloton Interactive by 49.0% during the 3rd quarter. Townsquare Capital LLC now owns 18,108 shares of the company’s stock worth $85,000 after buying an additional 5,957 shares during the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Andrew S. Rendich sold 138,391 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the completion of the sale, the insider now owns 287,973 shares in the company, valued at approximately $2,162,677.23. The trade was a 32.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Boone sold 17,259 shares of Peloton Interactive stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.63, for a total transaction of $148,945.17. Following the transaction, the director now directly owns 244,641 shares in the company, valued at approximately $2,111,251.83. This trade represents a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 422,821 shares of company stock valued at $3,264,674 in the last 90 days. 1.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PTON. Macquarie increased their price objective on Peloton Interactive from $4.90 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 1st. JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a report on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on shares of Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Robert W. Baird boosted their price target on shares of Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Bank of America upgraded Peloton Interactive from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $3.75 to $9.00 in a research report on Monday, November 4th. Sixteen analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Peloton Interactive has a consensus rating of “Hold” and a consensus target price of $6.97.

Peloton Interactive Stock Performance

Shares of Peloton Interactive stock opened at $8.49 on Friday. The business has a 50 day moving average price of $9.15 and a 200 day moving average price of $6.11. Peloton Interactive, Inc. has a 1 year low of $2.70 and a 1 year high of $10.90.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $586.00 million for the quarter, compared to analysts’ expectations of $572.97 million. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.44) earnings per share. On average, analysts anticipate that Peloton Interactive, Inc. will post -0.39 EPS for the current year.

About Peloton Interactive

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.