Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lessened its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Get Rating) by 72.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,600 shares of the company's stock after selling 69,858 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.'s holdings in Peloton Interactive were worth $184,000 at the end of the most recent reporting period.
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A number of other hedge funds have also added to or reduced their stakes in PTON. Wahed Invest LLC purchased a new position in Peloton Interactive during the 2nd quarter valued at about $29,000. Exchange Traded Concepts LLC grew its holdings in shares of Peloton Interactive by 943.8% during the third quarter. Exchange Traded Concepts LLC now owns 4,509 shares of the company's stock worth $31,000 after purchasing an additional 4,077 shares in the last quarter. Covestor Ltd grew its holdings in shares of Peloton Interactive by 1,054.2% during the first quarter. Covestor Ltd now owns 1,385 shares of the company's stock worth $37,000 after purchasing an additional 1,265 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Peloton Interactive by 96.5% during the second quarter. Parallel Advisors LLC now owns 4,935 shares of the company's stock worth $45,000 after purchasing an additional 2,424 shares in the last quarter. Finally, Venture Visionary Partners LLC purchased a new position in shares of Peloton Interactive during the second quarter worth about $55,000. Hedge funds and other institutional investors own 74.43% of the company's stock.
Analysts Set New Price Targets
PTON has been the subject of several recent analyst reports. Morgan Stanley cut their price objective on Peloton Interactive from $10.00 to $8.00 and set an "equal weight" rating for the company in a report on Tuesday, October 25th. Barclays dropped their target price on Peloton Interactive from $18.00 to $14.00 in a research report on Sunday, November 6th. Telsey Advisory Group dropped their target price on Peloton Interactive from $11.00 to $9.00 and set a "market perform" rating for the company in a research report on Friday, October 28th. The Goldman Sachs Group dropped their target price on Peloton Interactive from $18.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, November 4th. Finally, Bank of America dropped their target price on Peloton Interactive from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, November 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $17.85.
Peloton Interactive Price Performance
Shares of Peloton Interactive stock opened at $11.06 on Monday. The company has a market cap of $3.76 billion, a PE ratio of -1.30 and a beta of 1.77. The business has a 50 day moving average of $10.43 and a 200 day moving average of $9.89. Peloton Interactive, Inc. has a 52 week low of $6.66 and a 52 week high of $40.35. The company has a quick ratio of 1.40, a current ratio of 2.47 and a debt-to-equity ratio of 6.48.
Peloton Interactive (NASDAQ:PTON - Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.05). The firm had revenue of $616.50 million during the quarter, compared to analysts' expectations of $638.73 million. Peloton Interactive had a negative return on equity of 116.53% and a negative net margin of 83.97%. As a group, equities research analysts forecast that Peloton Interactive, Inc. will post -2.69 earnings per share for the current year.
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, and Peloton Tread+ names. It also provides connected fitness subscriptions for various household users, and access to various 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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