The Manufacturers Life Insurance Company Boosts Stock Position in Peloton Interactive, Inc. (NASDAQ:PTON)

The Manufacturers Life Insurance Company grew its stake in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 253.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,589 shares of the company's stock after purchasing an additional 130,242 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Peloton Interactive were worth $614,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV bought a new stake in shares of Peloton Interactive during the second quarter valued at approximately $27,000. Skylands Capital LLC purchased a new stake in shares of Peloton Interactive in the 2nd quarter worth about $30,000. Nisa Investment Advisors LLC increased its stake in shares of Peloton Interactive by 1,836.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company's stock worth $32,000 after acquiring an additional 9,000 shares in the last quarter. Schneider Downs Wealth Management Advisors LP purchased a new position in Peloton Interactive during the 2nd quarter valued at about $35,000. Finally, CIBC Asset Management Inc bought a new stake in Peloton Interactive during the second quarter worth about $35,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

Peloton Interactive Stock Up 1.0 %

NASDAQ:PTON traded up $0.05 on Wednesday, hitting $5.26. The stock had a trading volume of 11,218,434 shares, compared to its average volume of 15,441,273. The business's 50-day simple moving average is $4.34 and its two-hundred day simple moving average is $3.83. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -2.47 and a beta of 2.04. Peloton Interactive, Inc. has a 52-week low of $2.70 and a 52-week high of $7.24.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its quarterly earnings data on Thursday, August 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.10. The business had revenue of $644.00 million during the quarter, compared to analysts' expectations of $633.00 million. During the same period in the previous year, the business posted ($0.68) EPS. The business's quarterly revenue was up .3% compared to the same quarter last year. As a group, equities research analysts anticipate that Peloton Interactive, Inc. will post -0.65 EPS for the current year.

Insider Transactions at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 56,084 shares of Peloton Interactive stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.50, for a total transaction of $252,378.00. Following the transaction, the chief financial officer now directly owns 186,466 shares in the company, valued at approximately $839,097. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Chris Bruzzo sold 15,113 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $3.42, for a total value of $51,686.46. Following the completion of the sale, the chief executive officer now directly owns 97,433 shares of the company's stock, valued at $333,220.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Elizabeth F. Coddington sold 56,084 shares of Peloton Interactive stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total value of $252,378.00. Following the sale, the chief financial officer now directly owns 186,466 shares in the company, valued at $839,097. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,016 shares of company stock worth $722,587 in the last three months. Corporate insiders own 3.28% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PTON. Canaccord Genuity Group raised their target price on shares of Peloton Interactive from $4.00 to $5.00 and gave the company a "hold" rating in a research note on Friday, August 23rd. Sanford C. Bernstein boosted their target price on Peloton Interactive from $3.80 to $4.25 and gave the stock a "market perform" rating in a report on Friday, August 23rd. Robert W. Baird raised their price target on Peloton Interactive from $4.00 to $4.75 and gave the company a "neutral" rating in a report on Monday, August 26th. Wolfe Research initiated coverage on shares of Peloton Interactive in a research note on Tuesday, July 16th. They issued a "peer perform" rating on the stock. Finally, JMP Securities restated a "market perform" rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $4.52.

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.