Bastion Asset Management Inc. Purchases New Shares in Peloton Interactive, Inc. $PTON

by · The Cerbat Gem

Bastion Asset Management Inc. acquired a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON – Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,655,100 shares of the company’s stock, valued at approximately $7,020,000. Peloton Interactive makes up 2.2% of Bastion Asset Management Inc.’s portfolio, making the stock its 14th largest position.

Other hedge funds have also recently bought and sold shares of the company. Sankala Group LLC purchased a new stake in shares of Peloton Interactive in the fourth quarter valued at about $31,000. Cora Capital Advisors LLC purchased a new position in Peloton Interactive during the first quarter worth about $43,000. Advisory Services Network LLC bought a new stake in Peloton Interactive in the 3rd quarter worth about $48,000. waypoint wealth counsel bought a new stake in Peloton Interactive in the 1st quarter worth about $53,000. Finally, MQS Management LLC purchased a new stake in Peloton Interactive in the 1st quarter valued at about $55,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Peloton Interactive

In related news, insider Dion C. Sanders sold 112,523 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $5.19, for a total value of $583,994.37. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Saqib Baig sold 29,075 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.27, for a total value of $153,225.25. Following the transaction, the chief financial officer directly owned 250,019 shares of the company’s stock, valued at approximately $1,317,600.13. This trade represents a 10.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 176,241 shares of company stock worth $925,207. 1.30% of the stock is owned by company insiders.

Peloton Interactive Stock Performance

NASDAQ PTON opened at $6.29 on Friday. The company has a market capitalization of $2.72 billion, a PE ratio of 157.29, a price-to-earnings-growth ratio of 0.47 and a beta of 2.52. Peloton Interactive, Inc. has a 52-week low of $3.65 and a 52-week high of $9.20. The company has a 50-day simple moving average of $5.74 and a 200 day simple moving average of $5.24.

Peloton Interactive (NASDAQ:PTON – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Peloton Interactive had a net margin of 0.94% and a negative return on equity of 6.95%. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. Peloton Interactive’s revenue was up 1.1% compared to the same quarter last year. As a group, analysts forecast that Peloton Interactive, Inc. will post 0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. The Goldman Sachs Group lifted their target price on shares of Peloton Interactive from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Weiss Ratings raised Peloton Interactive from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. UBS Group reaffirmed a “buy” rating on shares of Peloton Interactive in a research report on Monday, June 15th. Wall Street Zen upgraded Peloton Interactive from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Telsey Advisory Group reissued a “market perform” rating on shares of Peloton Interactive in a research report on Wednesday, May 27th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Peloton Interactive has a consensus rating of “Hold” and a consensus price target of $8.25.

Read Our Latest Analysis on Peloton Interactive

Peloton Interactive Company Profile

(Free Report)

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.

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