Kanen Wealth Management LLC Invests $7.56 Million in Peloton Interactive, Inc. $PTON

Kanen Wealth Management LLC purchased a new position in Peloton Interactive, Inc. (NASDAQ:PTON) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 1,762,197 shares of the company’s stock, valued at approximately $7,560,000. Peloton Interactive comprises approximately 2.7% of Kanen Wealth Management LLC’s holdings, making the stock its 12th biggest position.

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada increased its stake in shares of 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 purchasing an additional 477,106 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Peloton Interactive by 2.4% in the 1st 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 in the last quarter. NewEdge Advisors LLC boosted its position in shares of Peloton Interactive by 3,132.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,549 shares of the company’s stock worth $98,000 after purchasing an additional 15,068 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Peloton Interactive by 27.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock worth $44,598,000 after buying an additional 1,503,680 shares during the last quarter. Finally, Caxton Associates LLP purchased a new stake in shares of Peloton Interactive in the 1st quarter worth approximately $282,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Peloton Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. UBS Group reissued a “buy” rating on shares of Peloton Interactive in a research note on Monday, June 15th. Telsey Advisory Group restated a “market perform” rating on shares of Peloton Interactive in a report on Wednesday, May 27th. The Goldman Sachs Group lifted their price target on Peloton Interactive from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Weiss Ratings raised shares of Peloton Interactive from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Peloton Interactive presently has a consensus rating of “Hold” and an average target price of $8.25.

Peloton Interactive Stock Up 4.6%

Shares of NASDAQ PTON opened at $6.55 on Wednesday. The firm’s 50-day moving average price is $5.90 and its 200-day moving average price is $5.24. Peloton Interactive, Inc. has a 52-week low of $3.65 and a 52-week high of $9.20. The company has a market cap of $2.84 billion, a PE ratio of 163.79, a PEG ratio of 0.46 and a beta of 2.52.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share 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%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.12) EPS. As a group, equities research analysts anticipate that Peloton Interactive, Inc. will post 0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Saqib Baig sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $5.66, for a total value of $28,300.00. Following the transaction, the chief financial officer directly owned 234,046 shares in the company, valued at $1,324,700.36. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dion C. Sanders sold 112,523 shares of Peloton Interactive stock in a transaction on Wednesday, May 20th. The stock was 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 quarter, insiders have sold 160,769 shares of company stock valued at $844,525. Company insiders own 1.30% of the company’s stock.

Peloton Interactive Company 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.