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

Kanen Wealth Management LLC acquired a new position in Peloton Interactive, Inc. (NASDAQ:PTON) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,762,197 shares of the company’s stock, valued at approximately $7,560,000. Peloton Interactive accounts for 2.7% of Kanen Wealth Management LLC’s holdings, making the stock its 12th largest position. Kanen Wealth Management LLC owned approximately 0.41% of Peloton Interactive as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Peloton Interactive by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 39,227,591 shares of the company’s stock valued at $241,642,000 after acquiring an additional 591,300 shares during the period. Eminence Capital LP increased its stake in Peloton Interactive by 20.3% in the 4th quarter. Eminence Capital LP now owns 18,154,907 shares of the company’s stock worth $111,834,000 after purchasing an additional 3,069,497 shares during the period. DNB Asset Management AS increased its stake in Peloton Interactive by 142.4% in the 4th quarter. DNB Asset Management AS now owns 10,776,627 shares of the company’s stock worth $66,384,000 after purchasing an additional 6,331,510 shares during the period. Geode Capital Management LLC lifted its position in Peloton Interactive by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 9,741,115 shares of the company’s stock valued at $60,015,000 after purchasing an additional 369,614 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Peloton Interactive by 27.1% in the first quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock valued at $44,598,000 after purchasing an additional 1,503,680 shares during the last quarter. Institutional investors own 77.01% of the company’s stock.

Peloton Interactive Trading Up 4.6%

Shares of Peloton Interactive stock opened at $6.55 on Wednesday. Peloton Interactive, Inc. has a 12-month low of $3.65 and a 12-month high of $9.20. The company has a market cap of $2.84 billion, a P/E ratio of 163.79, a PEG ratio of 0.46 and a beta of 2.52. The company’s fifty day simple moving average is $5.90 and its two-hundred day simple moving average is $5.24.

Peloton Interactive (NASDAQ:PTON) last posted its earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Peloton Interactive had a negative return on equity of 6.95% and a net margin of 0.94%.The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. Analysts predict that Peloton Interactive, Inc. will post 0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen raised Peloton Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. The Goldman Sachs Group lifted 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. Telsey Advisory Group reissued a “market perform” rating on shares of Peloton Interactive in a research report on Wednesday, May 27th. UBS Group reissued a “buy” rating on shares of Peloton Interactive in a research report on Monday, June 15th. Finally, Weiss Ratings upgraded shares of Peloton Interactive from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Five equities 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 company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.25.

Insider Transactions at Peloton Interactive

In other Peloton Interactive news, insider Dion C. Sanders sold 112,523 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $5.19, for a total value of $583,994.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Saqib Baig sold 29,075 shares of Peloton Interactive stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.27, for a total value of $153,225.25. Following the sale, the chief financial officer directly owned 250,019 shares in the company, valued at approximately $1,317,600.13. The trade was a 10.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 160,769 shares of company stock valued at $844,525. 1.30% of the stock is owned by insiders.

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.