The Manufacturers Life Insurance Company Has $816,000 Position in Peloton Interactive, Inc. (NASDAQ:PTON)

The Manufacturers Life Insurance Company trimmed its position in Peloton Interactive, Inc. (NASDAQ:PTON) by 4.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 174,383 shares of the company’s stock after selling 7,206 shares during the period. The Manufacturers Life Insurance Company’s holdings in Peloton Interactive were worth $816,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of PTON. Mercer Global Advisors Inc. ADV acquired a new position in Peloton Interactive during the 2nd quarter worth approximately $27,000. Skylands Capital LLC purchased a new position in shares of Peloton Interactive in the 2nd quarter worth about $30,000. Nisa Investment Advisors LLC raised its position in 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 purchasing an additional 9,000 shares during the period. Schneider Downs Wealth Management Advisors LP purchased a new position in Peloton Interactive in the 2nd quarter worth approximately $35,000. Finally, CIBC Asset Management Inc bought a new stake in Peloton Interactive in the second quarter valued at approximately $35,000. Institutional investors own 77.01% of the company’s stock.

Wall Street Analysts Forecast Growth

PTON has been the subject of a number of research analyst reports. Telsey Advisory Group raised their price target on Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Bank of America raised Peloton Interactive from an “underperform” rating to a “buy” rating and increased their target price for the stock from $3.75 to $9.00 in a research note on Monday, November 4th. JPMorgan Chase & Co. increased their price target on shares of Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Truist Financial increased their price objective on shares of Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Macquarie increased their target price on Peloton Interactive from $4.90 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Sixteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.97.

Peloton Interactive Price Performance

PTON stock opened at $9.35 on Friday. Peloton Interactive, Inc. has a 1 year low of $2.70 and a 1 year high of $10.59. The firm has a market capitalization of $3.57 billion, a PE ratio of -8.74 and a beta of 1.90. The business has a 50 day simple moving average of $7.51 and a 200-day simple moving average of $5.13.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $586.00 million for the quarter, compared to analysts’ expectations of $572.97 million. During the same quarter in the prior year, the company posted ($0.44) EPS. The business’s revenue was down 1.6% on a year-over-year basis. On average, equities research analysts expect that Peloton Interactive, Inc. will post -0.38 EPS for the current year.

Insider Activity at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 36,819 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $4.74, for a total transaction of $174,522.06. Following the transaction, the chief financial officer now directly owns 171,466 shares in the company, valued at approximately $812,748.84. This trade represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Saqib Baig sold 36,776 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.53, for a total value of $276,923.28. Following the sale, the chief accounting officer now directly owns 137,357 shares of the company’s stock, valued at approximately $1,034,298.21. This represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 467,358 shares of company stock valued at $3,435,118 over the last 90 days. 1.34% of the stock is owned by corporate 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.