DnB Asset Management AS Sells 6,339,341 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

DnB Asset Management AS lowered its position in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 71.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,487,899 shares of the company’s stock after selling 6,339,341 shares during the period. DnB Asset Management AS’s holdings in Peloton Interactive were worth $21,645,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Peloton Interactive by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 35,059,790 shares of the company’s stock valued at $305,020,000 after purchasing an additional 1,645,640 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in Peloton Interactive during the fourth quarter worth $85,260,000. Two Sigma Advisers LP boosted its position in Peloton Interactive by 2.9% during the 3rd quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock valued at $34,823,000 after acquiring an additional 206,500 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Peloton Interactive in the 4th quarter valued at $39,992,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Peloton Interactive by 245.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,227,854 shares of the company’s stock worth $36,782,000 after acquiring an additional 3,004,757 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Canaccord Genuity Group upgraded Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Friday, March 14th. UBS Group raised shares of Peloton Interactive from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $2.50 to $10.00 in a research report on Friday, December 6th. Argus upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Tuesday, February 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research report on Thursday, February 6th. Finally, JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a research report on Friday, February 7th. Fifteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.69.

Peloton Interactive Price Performance

NASDAQ:PTON opened at $6.30 on Friday. The firm has a market capitalization of $2.46 billion, a P/E ratio of -8.18 and a beta of 1.95. The company’s fifty day moving average price is $7.73 and its 200-day moving average price is $7.56. Peloton Interactive, Inc. has a 1-year low of $2.70 and a 1-year high of $10.90.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). Equities analysts anticipate that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jennifer Cunningham Cotter sold 187,238 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $6.45, for a total transaction of $1,207,685.10. Following the sale, the insider now directly owns 100,269 shares of the company’s stock, valued at $646,735.05. This represents a 65.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nick V. Caldwell sold 68,727 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.59, for a total value of $452,910.93. Following the sale, the insider now owns 474,234 shares in the company, valued at $3,125,202.06. This trade represents a 12.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 691,597 shares of company stock worth $5,671,783. Corporate insiders own 1.34% of the company’s stock.

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.