Bank of Nova Scotia Purchases New Position in Peloton Interactive, Inc. (NASDAQ:PTON)

Bank of Nova Scotia acquired a new position in shares of Peloton Interactive, Inc. (NASDAQ:PTON) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 15,266 shares of the company’s stock, valued at approximately $133,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of Peloton Interactive by 3.8% in the fourth quarter. Victory Capital Management Inc. now owns 42,084 shares of the company’s stock valued at $366,000 after buying an additional 1,534 shares during the last quarter. Choreo LLC boosted its position in shares of Peloton Interactive by 12.3% during the 4th quarter. Choreo LLC now owns 16,832 shares of the company’s stock worth $150,000 after purchasing an additional 1,838 shares during the period. Counterpoint Mutual Funds LLC grew its stake in shares of Peloton Interactive by 2.5% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 79,459 shares of the company’s stock valued at $691,000 after buying an additional 1,951 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Peloton Interactive by 33.9% during the fourth quarter. Jones Financial Companies Lllp now owns 9,496 shares of the company’s stock worth $83,000 after purchasing an additional 2,403 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Peloton Interactive in the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Peloton Interactive Trading Up 0.5 %

Peloton Interactive stock opened at $5.73 on Wednesday. The company’s 50-day moving average price is $7.04 and its two-hundred day moving average price is $7.65. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -7.44 and a beta of 2.21. Peloton Interactive, Inc. has a 52 week low of $2.70 and a 52 week high of $10.90.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). Research analysts expect that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, insider Nick V. Caldwell sold 68,727 shares of Peloton Interactive stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $6.59, for a total transaction of $452,910.93. Following the transaction, the insider now directly owns 474,234 shares in the company, valued at approximately $3,125,202.06. The trade was a 12.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Cunningham Cotter sold 187,238 shares of Peloton Interactive stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $6.45, for a total value of $1,207,685.10. Following the transaction, the insider now owns 100,269 shares in the company, valued at $646,735.05. This represents a 65.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 674,338 shares of company stock worth $5,522,838 in the last quarter. 1.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Bank of America reduced their price objective on shares of Peloton Interactive from $11.50 to $9.50 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Peloton Interactive from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Citigroup lowered their price objective on shares of Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Macquarie reissued a “neutral” rating and set a $9.00 target price on shares of Peloton Interactive in a research note on Monday, February 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a report on Thursday, February 6th. Fifteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.59.

Peloton Interactive 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.