Connor Clark & Lunn Investment Management Ltd. Cuts Stock Position in Peloton Interactive, Inc. $PTON

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 25.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,778,238 shares of the company’s stock after selling 1,668,589 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Peloton Interactive were worth $43,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PTON. Vident Advisory LLC increased its stake in Peloton Interactive by 1.1% in the 2nd quarter. Vident Advisory LLC now owns 110,258 shares of the company’s stock valued at $765,000 after buying an additional 1,180 shares during the period. Cresset Asset Management LLC lifted its stake in shares of Peloton Interactive by 11.9% in the 3rd quarter. Cresset Asset Management LLC now owns 12,748 shares of the company’s stock worth $115,000 after acquiring an additional 1,354 shares during the period. Kirr Marbach & Co. LLC IN boosted its holdings in shares of Peloton Interactive by 0.3% in the third quarter. Kirr Marbach & Co. LLC IN now owns 471,946 shares of the company’s stock valued at $4,248,000 after acquiring an additional 1,464 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Peloton Interactive by 6.0% in the third quarter. Principal Financial Group Inc. now owns 27,126 shares of the company’s stock valued at $244,000 after acquiring an additional 1,526 shares in the last quarter. Finally, MAI Capital Management increased its stake in shares of Peloton Interactive by 64.6% during the second quarter. MAI Capital Management now owns 5,498 shares of the company’s stock worth $38,000 after acquiring an additional 2,158 shares during the period. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PTON has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Citigroup dropped their target price on Peloton Interactive from $8.25 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. Zacks Research downgraded Peloton Interactive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Guggenheim initiated coverage on Peloton Interactive in a report on Wednesday, December 10th. They issued a “neutral” rating for the company. Finally, Truist Financial decreased their price target on Peloton Interactive from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Peloton Interactive has a consensus rating of “Hold” and a consensus price target of $8.42.

Insider Transactions at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 238,013 shares of Peloton Interactive stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $4.18, for a total transaction of $994,894.34. Following the completion of the transaction, the chief financial officer directly owned 346,535 shares of the company’s stock, valued at approximately $1,448,516.30. The trade was a 40.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nick V. Caldwell sold 75,762 shares of the business’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $7.00, for a total value of $530,334.00. Following the sale, the insider owned 764,220 shares in the company, valued at approximately $5,349,540. The trade was a 9.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,074,910 shares of company stock worth $5,113,049 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Peloton Interactive Trading Down 2.3%

PTON stock opened at $3.77 on Friday. The company’s 50-day moving average price is $5.11 and its 200 day moving average price is $6.53. Peloton Interactive, Inc. has a 52 week low of $3.68 and a 52 week high of $9.20. The company has a market cap of $1.60 billion, a P/E ratio of -29.00, a P/E/G ratio of 0.76 and a beta of 2.47.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). During the same quarter in the prior year, the firm earned ($0.24) EPS. Peloton Interactive’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities research analysts expect that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

About Peloton Interactive

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.