Hennessy Advisors Inc. acquired a new stake in Peloton Interactive, Inc. (NASDAQ:PTON – Free Report) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 9,800,000 shares of the company’s stock, valued at approximately $85,260,000. Peloton Interactive makes up about 2.5% of Hennessy Advisors Inc.’s holdings, making the stock its largest position.
A number of other institutional investors have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV acquired a new stake in Peloton Interactive in the second quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of 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 during the period. Choreo LLC bought a new position in Peloton Interactive in the 2nd quarter worth approximately $44,000. Verdence Capital Advisors LLC acquired a new stake in Peloton Interactive in the 3rd quarter valued at approximately $52,000. Finally, Ballentine Partners LLC bought a new stake in Peloton Interactive during the 3rd quarter valued at $55,000. 77.01% of the stock is currently owned by institutional investors.
Peloton Interactive Price Performance
NASDAQ PTON opened at $8.49 on Friday. The company has a 50 day simple moving average of $9.15 and a 200-day simple moving average of $6.11. Peloton Interactive, Inc. has a 52-week low of $2.70 and a 52-week high of $10.90.
Analysts Set New Price Targets
PTON has been the topic of a number of recent analyst reports. Sanford C. Bernstein lifted their price objective on shares of Peloton Interactive from $4.25 to $6.50 and gave the company a “market perform” rating in a research note on Friday, November 1st. Morgan Stanley increased their price target on Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Telsey Advisory Group raised their target price 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. JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research report on Thursday, October 3rd. Finally, Macquarie boosted their target price on shares of Peloton Interactive from $4.90 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Sixteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.97.
Read Our Latest Stock Analysis on PTON
Insider Activity at Peloton Interactive
In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 186,462 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.58, for a total value of $1,413,381.96. Following the completion of the sale, the chief financial officer now directly owns 223,017 shares of the company’s stock, valued at $1,690,468.86. The trade was a 45.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Karen Boone sold 17,259 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.63, for a total transaction of $148,945.17. Following the transaction, the director now owns 244,641 shares in the company, valued at $2,111,251.83. This represents a 6.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 422,821 shares of company stock valued at $3,264,674. Insiders own 1.34% of the company’s stock.
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.
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