Convergence Investment Partners LLC Invests $697,000 in Peloton Interactive, Inc. (NASDAQ:PTON)

Convergence Investment Partners LLC bought a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 80,119 shares of the company’s stock, valued at approximately $697,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ballentine Partners LLC purchased a new stake in shares of Peloton Interactive during the third quarter valued at approximately $55,000. Verdence Capital Advisors LLC purchased a new position in shares of Peloton Interactive in the third quarter valued at $52,000. Los Angeles Capital Management LLC purchased a new position in shares of Peloton Interactive in the third quarter valued at $212,000. Weil Company Inc. purchased a new position in Peloton Interactive in the 3rd quarter valued at about $77,000. Finally, Versor Investments LP purchased a new position in Peloton Interactive in the 3rd quarter valued at about $415,000. 77.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Peloton Interactive

In related news, CAO Saqib Baig sold 22,662 shares of Peloton Interactive stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total transaction of $220,954.50. Following the sale, the chief accounting officer now directly owns 130,031 shares in the company, valued at $1,267,802.25. The trade was a 14.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Karen Boone sold 16,925 shares of Peloton Interactive stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $9.64, for a total transaction of $163,157.00. Following the sale, the chief executive officer now owns 228,217 shares in the company, valued at approximately $2,200,011.88. This represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 349,548 shares of company stock worth $3,339,099 in the last ninety days. 1.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PTON. BMO Capital Markets increased their price target on Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a report on Monday, November 4th. Robert W. Baird increased their target price on Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their target price on Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Citigroup reduced their price objective on shares of Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Finally, UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and increased their price objective for the company from $2.50 to $10.00 in a research note on Friday, December 6th. Sixteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.38.

Peloton Interactive Trading Up 1.7 %

Shares of NASDAQ PTON opened at $9.79 on Thursday. The company has a market cap of $3.82 billion, a price-to-earnings ratio of -12.71 and a beta of 1.95. Peloton Interactive, Inc. has a 12-month low of $2.70 and a 12-month high of $10.90. The stock’s 50 day simple moving average is $8.88 and its 200 day simple moving average is $6.99.

Peloton Interactive (NASDAQ:PTON) last posted its earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). As a group, equities analysts forecast that Peloton Interactive, Inc. will post -0.37 earnings per share for the current fiscal 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.