Hennessy Advisors Inc. Acquires New Shares in Peloton Interactive, Inc. (NASDAQ:PTON)

Hennessy Advisors Inc. purchased a new stake in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,800,000 shares of the company's stock, valued at approximately $85,260,000. Peloton Interactive accounts for approximately 2.5% of Hennessy Advisors Inc.'s holdings, making the stock its largest holding. Hennessy Advisors Inc. owned approximately 2.57% of Peloton Interactive as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its position in Peloton Interactive by 4.3% during the second quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company's stock worth $452,000 after purchasing an additional 5,463 shares during the period. Rhumbline Advisers raised its position in shares of Peloton Interactive by 26.4% in the 2nd quarter. Rhumbline Advisers now owns 464,436 shares of the company's stock valued at $1,570,000 after buying an additional 96,897 shares in the last quarter. Choreo LLC bought a new stake in shares of Peloton Interactive during the 2nd quarter worth approximately $44,000. Renaissance Technologies LLC bought a new position in Peloton Interactive in the second quarter valued at approximately $1,616,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Peloton Interactive during the second quarter valued at approximately $27,000. Institutional investors and hedge funds own 77.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PTON shares. Truist Financial lifted their target price on Peloton Interactive from $6.00 to $10.00 and gave the company a "hold" rating in a research report on Friday, November 1st. BMO Capital Markets upped their price objective on shares of Peloton Interactive from $6.50 to $8.50 and gave the stock a "market perform" rating in a research report on Monday, November 4th. Robert W. Baird raised their target price on shares of Peloton Interactive from $4.75 to $8.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Peloton Interactive from $5.00 to $7.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Finally, Sanford C. Bernstein raised their price objective on Peloton Interactive from $4.25 to $6.50 and gave the company a "market perform" rating in a report on Friday, November 1st. Sixteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Peloton Interactive has an average rating of "Hold" and an average price target of $6.97.

Peloton Interactive Stock Down 2.6 %

PTON traded down $0.22 during midday trading on Friday, hitting $8.27. The company had a trading volume of 13,212,810 shares, compared to its average volume of 9,430,827. The stock's 50 day moving average price is $9.15 and its 200 day moving average price is $6.17. Peloton Interactive, Inc. has a 52 week low of $2.70 and a 52 week high of $10.90. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of -7.73 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.01). The company had revenue of $586.00 million during the quarter, compared to the consensus estimate of $572.97 million. During the same quarter in the prior year, the company posted ($0.44) EPS. The firm's quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts predict that Peloton Interactive, Inc. will post -0.39 EPS for the current year.

Insider Activity at Peloton Interactive

In other news, CAO Saqib Baig sold 36,776 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $7.53, for a total value of $276,923.28. Following the transaction, the chief accounting officer now owns 137,357 shares in the company, valued at $1,034,298.21. The trade was a 21.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Karen Boone sold 16,925 shares of Peloton Interactive stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $9.64, for a total value of $163,157.00. Following the sale, the chief executive officer now owns 228,217 shares in the company, valued at $2,200,011.88. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 422,821 shares of company stock valued at $3,264,674. 1.34% of the stock is owned by insiders.

Peloton Interactive 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.