Hidden Lake Asset Management LP Purchases Shares of 594,102 Peloton Interactive, Inc. $PTON

Hidden Lake Asset Management LP purchased a new position in shares of Peloton Interactive, Inc. (NASDAQ:PTON) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 594,102 shares of the company’s stock, valued at approximately $5,347,000. Peloton Interactive comprises about 0.7% of Hidden Lake Asset Management LP’s portfolio, making the stock its 24th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eminence Capital LP acquired a new stake in Peloton Interactive in the 2nd quarter worth approximately $112,681,000. DNB Asset Management AS increased its stake in Peloton Interactive by 592.6% during the 2nd quarter. DNB Asset Management AS now owns 3,711,752 shares of the company’s stock valued at $25,760,000 after purchasing an additional 3,175,861 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Peloton Interactive in the third quarter worth $17,387,000. Ameriprise Financial Inc. raised its holdings in shares of Peloton Interactive by 5,654.6% in the third quarter. Ameriprise Financial Inc. now owns 1,705,661 shares of the company’s stock worth $15,351,000 after buying an additional 1,676,021 shares during the last quarter. Finally, Aperture Investors LLC lifted its stake in shares of Peloton Interactive by 184.7% during the second quarter. Aperture Investors LLC now owns 2,376,169 shares of the company’s stock worth $16,491,000 after buying an additional 1,541,536 shares during the period. 77.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Charles Peter Kirol sold 6,419 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $4.14, for a total transaction of $26,574.66. Following the completion of the transaction, the chief operating officer directly owned 88,408 shares of the company’s stock, valued at $366,009.12. This represents a 6.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Elizabeth F. Coddington sold 238,013 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $4.18, for a total transaction of $994,894.34. Following the transaction, the chief financial officer directly owned 346,535 shares in the company, valued at approximately $1,448,516.30. The trade was a 40.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,053,090 shares of company stock valued at $4,975,364. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PTON shares. Argus downgraded Peloton Interactive from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. UBS Group reaffirmed a “buy” rating on shares of Peloton Interactive in a research report on Tuesday, February 3rd. Truist Financial cut their price objective on Peloton Interactive from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, February 6th. JPMorgan Chase & Co. reduced their price objective on Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 6th. Finally, Guggenheim began coverage on Peloton Interactive in a report on Wednesday, December 10th. They set a “neutral” rating for the company. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Peloton Interactive presently has a consensus rating of “Hold” and a consensus target price of $8.42.

Peloton Interactive Stock Performance

Shares of Peloton Interactive stock opened at $3.71 on Monday. The firm has a 50-day simple moving average of $5.06 and a two-hundred day simple moving average of $6.49. Peloton Interactive, Inc. has a fifty-two week low of $3.65 and a fifty-two week high of $9.20. The company has a market cap of $1.58 billion, a P/E ratio of -28.54, a price-to-earnings-growth ratio of 0.73 and a beta of 2.47.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. Equities research analysts forecast that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Peloton Interactive Profile

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.