Headlands Technologies LLC Buys 296,045 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

Headlands Technologies LLC lifted its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 1,816.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 312,340 shares of the company’s stock after purchasing an additional 296,045 shares during the period. Headlands Technologies LLC owned 0.08% of Peloton Interactive worth $2,717,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. R Squared Ltd purchased a new stake in Peloton Interactive in the fourth quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Peloton Interactive by 31.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock worth $31,000 after acquiring an additional 1,597 shares during the period. Sanctuary Advisors LLC purchased a new stake in Peloton Interactive in the 3rd quarter worth about $58,000. SBI Securities Co. Ltd. bought a new stake in Peloton Interactive in the 4th quarter valued at about $69,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Peloton Interactive during the fourth quarter valued at about $72,000. Institutional investors own 77.01% of the company’s stock.

Peloton Interactive Price Performance

Shares of NASDAQ:PTON opened at $6.32 on Tuesday. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -8.21 and a beta of 1.95. The company’s fifty day moving average price is $7.69 and its 200-day moving average price is $7.62. Peloton Interactive, Inc. has a one year low of $2.70 and a one year high of $10.90.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). As a group, equities research analysts expect that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Analyst Upgrades and Downgrades

PTON has been the topic of several research reports. Canaccord Genuity Group raised shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Friday, March 14th. Argus raised shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Tuesday, February 11th. UBS Group upgraded Peloton Interactive from a “sell” rating to a “neutral” rating and increased their target price for the stock from $2.50 to $10.00 in a research report on Friday, December 6th. Citigroup reduced their price target on Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a report on Thursday, February 6th. Fifteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.69.

Insider Activity at Peloton Interactive

In related news, CAO Saqib Baig sold 22,662 shares of the business’s 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 owns 130,031 shares of the company’s stock, valued at $1,267,802.25. The trade was a 14.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karen Boone sold 17,259 shares of the firm’s stock in a transaction that occurred 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 directly owns 244,641 shares of the company’s stock, valued at $2,111,251.83. This represents a 6.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 691,597 shares of company stock worth $5,671,783 over the last ninety days. 1.34% of the stock is 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.