Soros Fund Management LLC Makes New Investment in Peloton Interactive, Inc. (NASDAQ:PTON)

Soros Fund Management LLC purchased a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 213,336 shares of the company’s stock, valued at approximately $998,000.

Other hedge funds have also recently made changes to their positions in the company. PDT Partners LLC grew its stake in Peloton Interactive by 0.7% during the 3rd quarter. PDT Partners LLC now owns 205,573 shares of the company’s stock valued at $962,000 after purchasing an additional 1,373 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in Peloton Interactive by 31.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after buying an additional 1,597 shares during the last quarter. Abundance Wealth Counselors increased its holdings in Peloton Interactive by 24.7% in the 2nd quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock worth $45,000 after buying an additional 2,654 shares during the period. Signaturefd LLC raised its position in Peloton Interactive by 2.7% during the 2nd quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock worth $384,000 after buying an additional 3,032 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Peloton Interactive by 3.8% during the 2nd quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock valued at $314,000 after acquiring an additional 3,377 shares during the period. 77.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Peloton Interactive from $6.50 to $8.50 and gave the stock a “market perform” rating in a report on Monday, November 4th. Morgan Stanley boosted their price objective on Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Truist Financial raised their target price on Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Roth Mkm upped their price objective on Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Bank of America raised shares of Peloton Interactive from an “underperform” rating to a “buy” rating and lifted their target price for the company from $3.75 to $9.00 in a report on Monday, November 4th. Fifteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.75.

Insiders Place Their Bets

In other news, 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 transaction of $163,157.00. Following the transaction, the chief executive officer now owns 228,217 shares in the company, valued at $2,200,011.88. The trade was a 6.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew S. Rendich sold 138,391 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the completion of the sale, the insider now directly owns 287,973 shares of the company’s stock, valued at approximately $2,162,677.23. This trade represents a 32.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 467,358 shares of company stock valued at $3,435,118 in the last ninety days. 1.34% of the stock is currently owned by corporate insiders.

Peloton Interactive Price Performance

Shares of NASDAQ:PTON opened at $9.65 on Friday. Peloton Interactive, Inc. has a 1 year low of $2.70 and a 1 year high of $10.40. The firm has a market capitalization of $3.68 billion, a PE ratio of -9.02 and a beta of 1.90. The business’s 50 day moving average price is $7.10 and its 200-day moving average price is $4.94.

Peloton Interactive (NASDAQ:PTON) last released 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 firm had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm earned ($0.44) earnings per share. As a group, analysts expect that Peloton Interactive, Inc. will post -0.38 earnings per share for the current year.

About Peloton Interactive

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.