Coatue Management LLC grew its holdings in shares of Peloton (NASDAQ:PTON) by 50.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,140,586 shares of the company’s stock after purchasing an additional 1,720,915 shares during the quarter. Peloton makes up about 2.6% of Coatue Management LLC’s portfolio, making the stock its 14th biggest holding. Coatue Management LLC owned approximately 1.81% of Peloton worth $296,972,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James & Associates raised its stake in Peloton by 130.2% during the first quarter. Raymond James & Associates now owns 66,549 shares of the company’s stock valued at $1,767,000 after purchasing an additional 37,645 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in Peloton during the 1st quarter worth approximately $411,000. Janney Montgomery Scott LLC bought a new stake in Peloton during the 1st quarter worth approximately $290,000. UBS Group AG grew its position in Peloton by 2,118.2% during the 1st quarter. UBS Group AG now owns 1,900,739 shares of the company’s stock worth $50,464,000 after acquiring an additional 1,815,050 shares during the last quarter. Finally, GWM Advisors LLC bought a new stake in Peloton during the 1st quarter worth approximately $391,000. 59.54% of the stock is currently owned by institutional investors.
In other news, CFO Jill Woodworth sold 49,900 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $60.02, for a total value of $2,994,998.00. Following the transaction, the chief financial officer now owns 49,900 shares of the company’s stock, valued at $2,994,998. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 135,000 shares of company stock worth $7,478,798 in the last three months.
NASDAQ PTON traded down $1.65 on Friday, hitting $80.63. The stock had a trading volume of 16,710,016 shares, compared to its average volume of 8,283,261. Peloton has a 52-week low of $17.70 and a 52-week high of $92.50. The firm has a 50-day moving average of $67.99 and a 200-day moving average of $45.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.96 and a current ratio of 3.32.
A number of equities research analysts recently commented on PTON shares. Raymond James restated a “buy” rating on shares of Peloton in a research report on Thursday, July 16th. UBS Group lowered Peloton from a “buy” rating to a “neutral” rating and increased their price objective for the company from $48.00 to $58.00 in a research report on Thursday, July 16th. KeyCorp increased their price objective on Peloton from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Canaccord Genuity increased their price objective on Peloton from $50.00 to $70.00 and gave the company a “speculative buy” rating in a research report on Wednesday, July 1st. Finally, Zacks Investment Research lowered Peloton from a “buy” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $64.22.
Peloton Company Profile
Peloton Interactive, Inc provides interactive fitness products in North America. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. The company also provides connected fitness subscriptions for multiple household users, and access to all live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.
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