The Manufacturers Life Insurance Company Has $1.68 Million Holdings in Peloton Interactive, Inc. (NASDAQ:PTON)

The Manufacturers Life Insurance Company lifted its position in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 10.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 192,902 shares of the company’s stock after purchasing an additional 18,519 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Peloton Interactive were worth $1,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of PTON. R Squared Ltd acquired a new stake in Peloton Interactive in the 4th quarter valued at $28,000. Russell Investments Group Ltd. boosted its stake in Peloton Interactive by 969.6% in the 4th quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock valued at $35,000 after buying an additional 3,636 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Peloton Interactive in the 4th quarter valued at $69,000. C M Bidwell & Associates Ltd. acquired a new stake in Peloton Interactive in the 4th quarter valued at $72,000. Finally, Jones Financial Companies Lllp boosted its stake in Peloton Interactive by 33.9% in the 4th quarter. Jones Financial Companies Lllp now owns 9,496 shares of the company’s stock valued at $83,000 after buying an additional 2,403 shares in the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

Insider Buying and Selling

In related news, insider Andrew S. Rendich sold 17,401 shares of Peloton Interactive stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $8.18, for a total transaction of $142,340.18. Following the completion of the sale, the insider now directly owns 362,573 shares of the company’s stock, valued at $2,965,847.14. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nick V. Caldwell sold 68,727 shares of Peloton Interactive stock in a transaction on Monday, March 17th. The stock was sold at an average price of $6.59, for a total value of $452,910.93. Following the sale, the insider now directly owns 474,234 shares of the company’s stock, valued at approximately $3,125,202.06. This trade represents a 12.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 674,338 shares of company stock valued at $5,522,838 over the last three months. Company insiders own 1.34% of the company’s stock.

Peloton Interactive Stock Down 5.4%

Shares of Peloton Interactive stock opened at $6.16 on Monday. Peloton Interactive, Inc. has a 12 month low of $2.83 and a 12 month high of $10.90. The business has a fifty day simple moving average of $6.20 and a 200 day simple moving average of $7.82. The stock has a market cap of $2.40 billion, a PE ratio of -8.00 and a beta of 2.25.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The company had revenue of $624.00 million during the quarter, compared to analyst estimates of $620.39 million. During the same period in the previous year, the business posted ($0.45) earnings per share. The firm’s revenue for the quarter was down 13.1% compared to the same quarter last year. Analysts expect that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PTON has been the topic of several recent analyst reports. Truist Financial raised Peloton Interactive from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Monday, April 28th. Canaccord Genuity Group upgraded Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Friday, March 14th. Telsey Advisory Group cut their price objective on Peloton Interactive from $11.00 to $9.00 and set a “market perform” rating for the company in a research report on Monday, May 5th. Bank of America cut their price objective on Peloton Interactive from $11.50 to $9.50 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Finally, The Goldman Sachs Group cut their price objective on Peloton Interactive from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.30.

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.