Prentice Capital Management LP Has $5.72 Million Holdings in Peloton Interactive, Inc. (NASDAQ:PTON)

Prentice Capital Management LP increased its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 58.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,221,973 shares of the company’s stock after purchasing an additional 452,604 shares during the quarter. Peloton Interactive makes up about 12.7% of Prentice Capital Management LP’s portfolio, making the stock its 4th largest holding. Prentice Capital Management LP owned about 0.32% of Peloton Interactive worth $5,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Gtcr LLC acquired a new position in Peloton Interactive in the 3rd quarter valued at approximately $65,520,000. DME Capital Management LP acquired a new stake in Peloton Interactive in the second quarter valued at $22,947,000. Charles Schwab Investment Management Inc. lifted 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 worth $18,703,000 after buying an additional 291,946 shares during the period. Clearline Capital LP acquired a new position in Peloton Interactive during the 2nd quarter worth about $7,527,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Peloton Interactive in the 3rd quarter valued at about $8,363,000. Institutional investors own 77.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Truist Financial upped their target price on Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a report on Friday, November 1st. Morgan Stanley increased their price objective on shares of Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Peloton Interactive from $5.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Roth Mkm upped their price target on shares of Peloton Interactive from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Sanford C. Bernstein lifted their price objective on Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Peloton Interactive presently has an average rating of “Hold” and an average target price of $6.75.

Peloton Interactive Trading Up 3.2 %

Shares of NASDAQ PTON opened at $9.86 on Wednesday. The business has a 50-day moving average of $6.91 and a 200-day moving average of $4.87. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of -9.21 and a beta of 1.90. Peloton Interactive, Inc. has a 12 month low of $2.70 and a 12 month high of $10.40.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates 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. Peloton Interactive’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.44) earnings per share. On average, analysts predict that Peloton Interactive, Inc. will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Elizabeth F. Coddington sold 36,819 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $4.74, for a total transaction of $174,522.06. Following the completion of the sale, the chief financial officer now owns 171,466 shares of the company’s stock, valued at approximately $812,748.84. This represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew S. Rendich sold 138,391 shares of Peloton Interactive stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the completion of the transaction, the insider now directly owns 287,973 shares in the company, valued at approximately $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 have sold 450,433 shares of company stock valued at $3,271,961. 1.34% of the stock is currently owned by corporate insiders.

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.