Granite Point Capital Management L.P. Has $256,000 Position in Peloton Interactive, Inc. (NASDAQ:PTON)

Granite Point Capital Management L.P. increased its holdings in shares of Peloton Interactive, Inc. (NASDAQ:PTONGet Rating) by 37.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 37,000 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Granite Point Capital Management L.P.’s holdings in Peloton Interactive were worth $256,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Wahed Invest LLC acquired a new stake in Peloton Interactive in the 2nd quarter valued at $29,000. Exchange Traded Concepts LLC boosted its stake in Peloton Interactive by 943.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,509 shares of the company’s stock worth $31,000 after acquiring an additional 4,077 shares during the last quarter. Covestor Ltd increased its stake in Peloton Interactive by 1,054.2% during the 1st 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 raised 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 acquiring an additional 2,424 shares during the period. Finally, Venture Visionary Partners LLC acquired a new position in shares of Peloton Interactive during the second quarter worth about $55,000. 74.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PTON shares. Morgan Stanley dropped their price target on shares of Peloton Interactive from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 25th. Bank of America cut their price target on shares of Peloton Interactive from $19.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, November 2nd. Citigroup decreased their target price on Peloton Interactive from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, November 7th. Truist Financial lowered their price objective on Peloton Interactive from $13.00 to $10.00 in a research note on Friday, November 4th. Finally, Credit Suisse Group cut their target price on Peloton Interactive from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, November 4th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.56.

Peloton Interactive Trading Down 5.1 %

NASDAQ PTON opened at $11.06 on Wednesday. Peloton Interactive, Inc. has a one year low of $6.66 and a one year high of $40.35. The company has a debt-to-equity ratio of 6.48, a current ratio of 2.47 and a quick ratio of 1.40. The company’s 50-day simple moving average is $10.43 and its two-hundred day simple moving average is $9.91.

Peloton Interactive (NASDAQ:PTONGet 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). Peloton Interactive had a negative return on equity of 116.53% and a negative net margin of 83.97%. The business had revenue of $616.50 million during the quarter, compared to analyst estimates of $638.73 million. Analysts forecast that Peloton Interactive, Inc. will post -2.69 earnings per share for the current year.

About Peloton Interactive

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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.

See Also

Institutional Ownership by Quarter for Peloton Interactive (NASDAQ:PTON)

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