KLP Kapitalforvaltning AS Takes $580,000 Position in Peloton Interactive, Inc. (NASDAQ:PTON)

KLP Kapitalforvaltning AS bought a new position in shares of Peloton Interactive, Inc. (NASDAQ:PTON) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 66,700 shares of the company’s stock, valued at approximately $580,000.

Other large investors have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Peloton Interactive during the fourth quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in Peloton Interactive by 31.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock worth $31,000 after buying an additional 1,597 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Peloton Interactive in the 3rd quarter valued at $58,000. SBI Securities Co. Ltd. acquired a new position in shares of Peloton Interactive in the 4th quarter valued at $69,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Peloton Interactive by 33.9% during the 4th quarter. Jones Financial Companies Lllp now owns 9,496 shares of the company’s stock worth $83,000 after acquiring an additional 2,403 shares during the period. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $11.00 price target on shares of Peloton Interactive in a research report on Monday, February 3rd. UBS Group upgraded Peloton Interactive from a “sell” rating to a “neutral” rating and raised their target price for the stock from $2.50 to $10.00 in a research report on Friday, December 6th. The Goldman Sachs Group boosted their price target on Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a research note on Thursday, February 6th. Finally, Canaccord Genuity Group upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Friday, March 14th. Fifteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.69.

Peloton Interactive Stock Performance

Shares of Peloton Interactive stock opened at $6.31 on Thursday. The firm has a 50-day moving average of $7.60 and a 200-day moving average of $7.62. Peloton Interactive, Inc. has a 52-week low of $2.70 and a 52-week high of $10.90. The stock has a market cap of $2.46 billion, a PE ratio of -8.19 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). Equities research analysts predict that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Activity

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 170,819 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $9.62, for a total value of $1,643,278.78. Following the completion of the transaction, the chief financial officer now directly owns 275,212 shares in the company, valued at approximately $2,647,539.44. This represents a 38.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew S. Rendich sold 121,883 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total value of $1,162,763.82. Following the completion of the sale, the insider now owns 404,188 shares of the company’s stock, valued at $3,855,953.52. The trade was a 23.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 674,338 shares of company stock worth $5,522,838. Insiders own 1.34% of the company’s stock.

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.