Franklin Resources Inc. Buys Shares of 107,818 Peloton Interactive, Inc. (NASDAQ:PTON)

Franklin Resources Inc. purchased a new position in shares of Peloton Interactive, Inc. (NASDAQ:PTON) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 107,818 shares of the company’s stock, valued at approximately $505,000.

Several other large investors also recently added to or reduced their stakes in the company. Gtcr LLC bought a new position in Peloton Interactive during the third quarter worth about $65,520,000. Two Sigma Advisers LP boosted its holdings in Peloton Interactive by 2.9% in the 3rd quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock worth $34,823,000 after buying an additional 206,500 shares during the period. DME Capital Management LP purchased a new position in Peloton Interactive in the 2nd quarter valued at approximately $22,947,000. Charles Schwab Investment Management Inc. raised its holdings in Peloton Interactive by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,996,356 shares of the company’s stock valued at $18,703,000 after acquiring an additional 291,946 shares during the period. Finally, Clearline Capital LP purchased a new stake in shares of Peloton Interactive during the second quarter worth $7,527,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Insider Activity

In other news, CEO Karen Boone sold 16,925 shares of Peloton Interactive stock in a transaction on Thursday, December 5th. The shares were 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. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andrew S. Rendich sold 138,391 shares of the firm’s stock in a transaction 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 sale, the insider now owns 287,973 shares in the company, valued at $2,162,677.23. The trade was a 32.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 430,539 shares of company stock worth $3,260,596. Insiders own 1.34% of the company’s stock.

Peloton Interactive Stock Down 4.6 %

Shares of NASDAQ:PTON opened at $8.96 on Tuesday. The stock has a market cap of $3.42 billion, a PE ratio of -8.37 and a beta of 1.90. The company’s fifty day moving average is $8.62 and its 200 day moving average is $5.66. Peloton Interactive, Inc. has a 52 week low of $2.70 and a 52 week high of $10.90.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data 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 business had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that Peloton Interactive, Inc. will post -0.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PTON shares. Telsey Advisory Group boosted their price objective on Peloton Interactive from $5.00 to $9.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Sanford C. Bernstein increased their price target on shares of Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a report on Friday, November 1st. Bank of America raised shares of Peloton Interactive from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $3.75 to $9.00 in a research note on Monday, November 4th. JPMorgan Chase & Co. lifted their price objective on Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Robert W. Baird upped their target price on Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.97.

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.