Patient Capital Management LLC Has $22.80 Million Stock Position in Peloton Interactive, Inc. $PTON

Patient Capital Management LLC reduced its position in Peloton Interactive, Inc. (NASDAQ:PTON) by 5.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,533,688 shares of the company’s stock after selling 156,128 shares during the period. Patient Capital Management LLC owned about 0.62% of Peloton Interactive worth $22,803,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PTON. Royal Bank of Canada raised its holdings in shares of Peloton Interactive by 342.6% during the 1st 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. raised its holdings in Peloton Interactive by 2.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 290,981 shares of the company’s stock valued at $1,839,000 after buying an additional 6,921 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Peloton Interactive by 3,132.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,549 shares of the company’s stock worth $98,000 after acquiring an additional 15,068 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Peloton Interactive by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock valued at $44,598,000 after acquiring an additional 1,503,680 shares during the last quarter. Finally, Caxton Associates LLP bought a new position in shares of Peloton Interactive in the 1st quarter valued at approximately $282,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Peloton Interactive Stock Performance

NASDAQ:PTON opened at $5.86 on Wednesday. The firm’s 50-day moving average is $6.53 and its 200-day moving average is $7.17. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -20.93, a PEG ratio of 1.91 and a beta of 2.40. Peloton Interactive, Inc. has a 52-week low of $4.63 and a 52-week high of $10.25.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, November 6th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $550.80 million for the quarter, compared to analyst estimates of $540.61 million. Peloton Interactive’s revenue was down 6.0% compared to the same quarter last year. Equities analysts predict that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Analysts Set New Price Targets

PTON has been the subject of a number of recent analyst reports. Macquarie upped their target price on Peloton Interactive from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of Peloton Interactive in a report on Thursday, October 2nd. Guggenheim started coverage on shares of Peloton Interactive in a research note on Wednesday, December 10th. They issued a “neutral” rating on the stock. Wall Street Zen downgraded shares of Peloton Interactive from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Citigroup cut their target price on shares of Peloton Interactive from $9.50 to $8.25 and set a “neutral” rating for the company in a research report on Thursday, November 20th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.86.

Insider Buying and Selling at Peloton Interactive

In other news, CAO Saqib Baig sold 10,000 shares of the stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $6.87, for a total value of $68,700.00. Following the completion of the transaction, the chief accounting officer owned 170,665 shares in the company, valued at approximately $1,172,468.55. This represents a 5.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Cunningham Cotter sold 131,495 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $6.64, for a total transaction of $873,126.80. Following the completion of the sale, the insider directly owned 100,269 shares in the company, valued at approximately $665,786.16. The trade was a 56.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,103,730 shares of company stock valued at $7,688,810 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Peloton Interactive 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.