Norges Bank Acquires New Shares in Peloton Interactive, Inc. $PTON

Norges Bank acquired a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,862,925 shares of the company’s stock, valued at approximately $23,796,000. Norges Bank owned about 0.92% of Peloton Interactive at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PTON. Royal Bank of Canada raised its holdings in Peloton Interactive by 342.6% during the first quarter. Royal Bank of Canada now owns 616,367 shares of the company’s stock valued at $3,896,000 after buying an additional 477,106 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Peloton Interactive by 2.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 290,981 shares of the company’s stock worth $1,839,000 after purchasing an additional 6,921 shares during the period. NewEdge Advisors LLC increased its stake in shares of Peloton Interactive by 3,132.6% in the first quarter. NewEdge Advisors LLC now owns 15,549 shares of the company’s stock worth $98,000 after purchasing an additional 15,068 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Peloton Interactive by 27.1% in the first quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock worth $44,598,000 after purchasing an additional 1,503,680 shares during the period. Finally, Caxton Associates LLP bought a new position in shares of Peloton Interactive in the first quarter worth about $282,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

Peloton Interactive Stock Down 1.6%

Shares of PTON opened at $5.57 on Wednesday. Peloton Interactive, Inc. has a 12-month low of $3.65 and a 12-month high of $9.20. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 139.28, a P/E/G ratio of 0.96 and a beta of 2.54. The stock’s 50-day moving average price is $5.26 and its 200 day moving average price is $5.36.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Peloton Interactive had a net margin of 0.94% and a negative return on equity of 6.95%. During the same period in the prior year, the business earned ($0.12) EPS. Peloton Interactive’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts expect that Peloton Interactive, Inc. will post 0.13 EPS for the current year.

Analysts Set New Price Targets

PTON has been the topic of a number of recent analyst reports. Argus lowered Peloton Interactive from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Zacks Research lowered Peloton Interactive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. The Goldman Sachs Group lifted their price objective on Peloton Interactive from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Wall Street Zen upgraded Peloton Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings upgraded Peloton Interactive from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.25.

Insider Activity

In related news, insider Nick V. Caldwell sold 42,632 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $3.86, for a total transaction of $164,559.52. Following the transaction, the insider directly owned 880,956 shares in the company, valued at $3,400,490.16. The trade was a 4.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dion C. Sanders sold 112,523 shares of Peloton Interactive stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $5.19, for a total value of $583,994.37. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 255,498 shares of company stock valued at $1,245,332. Corporate insiders own 1.30% of the company’s stock.

Peloton Interactive Profile

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.