Eminence Capital LP Purchases Shares of 16,236,490 Peloton Interactive, Inc. $PTON

Eminence Capital LP purchased a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 16,236,490 shares of the company’s stock, valued at approximately $112,681,000. Peloton Interactive makes up 1.4% of Eminence Capital LP’s investment portfolio, making the stock its 29th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bessemer Group Inc. boosted its stake in Peloton Interactive by 1,602.6% during the second quarter. Bessemer Group Inc. now owns 5,312 shares of the company’s stock valued at $37,000 after buying an additional 5,000 shares during the period. MAI Capital Management increased its stake in Peloton Interactive by 64.6% in the 2nd quarter. MAI Capital Management now owns 5,498 shares of the company’s stock worth $38,000 after acquiring an additional 2,158 shares during the last quarter. DRW Securities LLC purchased a new stake in shares of Peloton Interactive in the 1st quarter valued at about $67,000. Occudo Quantitative Strategies LP bought a new stake in shares of Peloton Interactive during the 2nd quarter valued at about $74,000. Finally, Rathbones Group PLC bought a new stake in shares of Peloton Interactive during the 1st quarter valued at about $85,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Analysts Set New Price Targets

PTON has been the topic of several research analyst reports. Guggenheim started coverage on shares of Peloton Interactive in a research report on Wednesday. They issued a “neutral” rating on the stock. Macquarie boosted their price target on shares of Peloton Interactive from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 price target on shares of Peloton Interactive in a report on Thursday, October 2nd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $9.00 price objective on shares of Peloton Interactive in a report on Monday, November 3rd. Finally, Wall Street Zen cut Peloton Interactive from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.86.

Insider Buying and Selling at Peloton Interactive

In other news, insider Jennifer Cunningham Cotter sold 131,495 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $6.64, for a total transaction of $873,126.80. Following the transaction, the insider directly owned 100,269 shares of the company’s stock, valued at approximately $665,786.16. This trade represents a 56.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nick V. Caldwell sold 68,262 shares of Peloton Interactive stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.25, for a total value of $494,899.50. Following the completion of the transaction, the insider owned 788,858 shares in the company, valued at approximately $5,719,220.50. This represents a 7.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,865,696 shares of company stock valued at $13,964,114. 1.30% of the stock is currently owned by insiders.

Peloton Interactive Stock Performance

PTON stock opened at $6.54 on Friday. The company has a market capitalization of $2.73 billion, a PE ratio of -23.36, a price-to-earnings-growth ratio of 1.98 and a beta of 2.46. Peloton Interactive, Inc. has a one year low of $4.63 and a one year high of $10.90. The company’s 50 day moving average price is $7.14 and its two-hundred day moving average price is $7.26.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $550.80 million during the quarter, compared to analysts’ expectations of $540.61 million. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, research analysts predict that Peloton Interactive, Inc. will post -0.36 EPS for the current 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.