Spire Wealth Management Increases Stock Holdings in Peloton Interactive, Inc. (NASDAQ:PTON)

Spire Wealth Management increased its stake in Peloton Interactive, Inc. (NASDAQ:PTON) by 421.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 112,340 shares of the company’s stock after acquiring an additional 90,811 shares during the period. Spire Wealth Management’s holdings in Peloton Interactive were worth $626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. purchased a new stake in Peloton Interactive in the fourth quarter worth $47,000. Carl P. Sherr & Co. LLC purchased a new position in Peloton Interactive in the 3rd quarter worth about $55,000. Clear Harbor Asset Management LLC bought a new stake in Peloton Interactive during the 4th quarter valued at about $78,000. Loudon Investment Management LLC purchased a new stake in Peloton Interactive in the 4th quarter valued at about $83,000. Finally, M&T Bank Corp grew its stake in Peloton Interactive by 25.4% in the 3rd quarter. M&T Bank Corp now owns 18,002 shares of the company’s stock worth $91,000 after acquiring an additional 3,643 shares in the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PTON shares. Robert W. Baird decreased their price target on shares of Peloton Interactive from $5.00 to $3.50 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Citigroup downgraded Peloton Interactive from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $4.00 in a research report on Monday. Telsey Advisory Group restated a “market perform” rating and issued a $4.00 price objective (down from $5.00) on shares of Peloton Interactive in a report on Monday, April 29th. Morgan Stanley assumed coverage on shares of Peloton Interactive in a report on Monday, March 11th. They set an “equal weight” rating and a $3.00 target price on the stock. Finally, Sanford C. Bernstein lowered shares of Peloton Interactive from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $8.00 to $3.80 in a report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Peloton Interactive has an average rating of “Hold” and an average target price of $5.11.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.34, for a total transaction of $38,960.18. Following the sale, the chief financial officer now owns 104,428 shares in the company, valued at approximately $453,217.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.28% of the stock is owned by insiders.

Peloton Interactive Stock Performance

Shares of NASDAQ PTON opened at $4.46 on Friday. Peloton Interactive, Inc. has a fifty-two week low of $2.70 and a fifty-two week high of $9.87. The company has a market cap of $1.64 billion, a PE ratio of -2.11 and a beta of 2.01. The business has a 50-day simple moving average of $3.88 and a two-hundred day simple moving average of $4.85.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The business had revenue of $717.70 million for the quarter, compared to the consensus estimate of $720.85 million. During the same quarter in the previous year, the company posted ($0.79) earnings per share. The company’s revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts predict that Peloton Interactive, Inc. will post -1.61 earnings per share 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.