Technology Crossover Management IX Ltd. Invests $21.73 Million in Peloton Interactive, Inc. $PTON

Technology Crossover Management IX Ltd. bought a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,676,413 shares of the company’s stock, valued at approximately $21,727,601. Peloton Interactive makes up about 0.0% of Technology Crossover Management IX Ltd.’s investment portfolio, making the stock its 5th biggest position. Technology Crossover Management IX Ltd. owned approximately 0.85% of Peloton Interactive as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Handelsbanken Fonder AB boosted its holdings in Peloton Interactive by 21.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 119,100 shares of the company’s stock valued at $704,000 after purchasing an additional 21,400 shares in the last quarter. Sage Capital Advisors llc purchased a new stake in shares of Peloton Interactive during the 2nd quarter worth about $163,000. GAMMA Investing LLC raised its position in shares of Peloton Interactive by 232.0% during the second quarter. GAMMA Investing LLC now owns 4,399 shares of the company’s stock valued at $26,000 after buying an additional 3,074 shares during the last quarter. Pacer Advisors Inc. lifted its position in Peloton Interactive by 40.6% during the 1st quarter. Pacer Advisors Inc. now owns 3,185,534 shares of the company’s stock worth $13,666,000 after buying an additional 919,754 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Peloton Interactive by 21.8% during the 1st quarter. NewEdge Advisors LLC now owns 12,405 shares of the company’s stock worth $53,000 after buying an additional 2,223 shares during the period. Institutional investors and hedge funds own 77.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PTON. Weiss Ratings reiterated a “sell (d+)” rating on shares of Peloton Interactive in a report on Friday, August 21st. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Peloton Interactive in a report on Monday, August 3rd. Wall Street Zen upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. The Goldman Sachs Group increased their target price on shares of Peloton Interactive from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, UBS Group reissued a “buy” rating on shares of Peloton Interactive in a research note on Monday, June 15th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.94.

Peloton Interactive Price Performance

Peloton Interactive stock traded up $0.15 during trading hours on Friday, hitting $5.45. The company had a trading volume of 3,951,641 shares, compared to its average volume of 12,300,144. The firm has a market cap of $2.39 billion, a PE ratio of 45.42, a PEG ratio of 0.47 and a beta of 2.52. Peloton Interactive, Inc. has a one year low of $3.65 and a one year high of $9.20. The firm has a 50-day moving average of $5.87 and a 200 day moving average of $5.20.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Peloton Interactive had a net margin of 2.58% and a negative return on equity of 23.92%. The business had revenue of $607.70 million during the quarter, compared to the consensus estimate of $596.60 million. During the same period in the prior year, the firm posted $0.05 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts expect that Peloton Interactive, Inc. will post 0.28 earnings per share for the current year.

Insiders Place Their Bets

In other Peloton Interactive news, CAO Saqib Baig sold 4,912 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $5.45, for a total transaction of $26,770.40. Following the sale, the chief accounting officer owned 267,729 shares in the company, valued at approximately $1,459,123.05. This represents a 1.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dion C. Sanders sold 112,512 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $5.45, for a total transaction of $613,190.40. Following the sale, the insider directly owned 18,801 shares of the company’s stock, valued at approximately $102,465.45. This represents a 85.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 187,061 shares of company stock valued at $1,018,079. 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.