Millennium Management LLC Invests $18.86 Million in Peloton (NASDAQ:PTON)

Millennium Management LLC acquired a new stake in shares of Peloton (NASDAQ:PTON) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 751,408 shares of the company’s stock, valued at approximately $18,860,000. Millennium Management LLC owned about 0.27% of Peloton as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PTON. Sageworth Trust Co bought a new stake in shares of Peloton during the 3rd quarter valued at about $25,000. Flagship Harbor Advisors LLC bought a new position in shares of Peloton in the 3rd quarter worth approximately $26,000. St. Johns Investment Management Company LLC purchased a new position in shares of Peloton in the third quarter worth approximately $35,000. FNY Investment Advisers LLC purchased a new position in Peloton during the third quarter valued at $112,000. Finally, Alpine Group USVI LLC bought a new stake in Peloton during the third quarter valued at about $648,000. Institutional investors own 21.46% of the company’s stock.

A number of research analysts recently issued reports on PTON shares. William Blair began coverage on Peloton in a research note on Monday, October 21st. They set an “outperform” rating for the company. Canaccord Genuity initiated coverage on shares of Peloton in a research note on Monday, October 21st. They set a “buy” rating and a $33.00 target price on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $37.00 price target on shares of Peloton in a report on Tuesday, November 5th. Oppenheimer assumed coverage on shares of Peloton in a report on Monday, October 21st. They set an “outperform” rating and a $29.00 price objective for the company. Finally, Goldman Sachs Group initiated coverage on Peloton in a research report on Monday, October 21st. They set a “buy” rating and a $37.00 price objective for the company. Three analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Peloton has a consensus rating of “Buy” and an average price target of $32.28.

Peloton stock opened at $33.48 on Wednesday. The business has a 50-day simple moving average of $23.23. Peloton has a twelve month low of $20.46 and a twelve month high of $37.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 4.71 and a current ratio of 5.34.

Peloton (NASDAQ:PTON) last announced its earnings results on Tuesday, November 5th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.89). The firm had revenue of $228.00 million for the quarter, compared to analysts’ expectations of $199.35 million. The business’s revenue was up 103.4% compared to the same quarter last year. On average, equities analysts forecast that Peloton will post -1.16 earnings per share for the current fiscal year.

In related news, Director Howard C. Draft purchased 68,965 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average cost of $29.00 per share, for a total transaction of $1,999,985.00. Also, insider X Cycle L.P. Tcv acquired 1,724,137 shares of the company’s stock in a transaction on Monday, September 30th. The shares were purchased at an average cost of $29.00 per share, with a total value of $49,999,973.00.

About Peloton

Peloton Interactive, Inc provides interactive fitness products in North America. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. The company also provides connected fitness subscriptions for multiple household users, and access to all live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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Institutional Ownership by Quarter for Peloton (NASDAQ:PTON)

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