Connor Clark & Lunn Investment Management Ltd. Buys 3,004,757 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 245.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,227,854 shares of the company’s stock after purchasing an additional 3,004,757 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 1.11% of Peloton Interactive worth $36,782,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Great Lakes Advisors LLC bought a new position in Peloton Interactive during the fourth quarter worth $4,099,000. Sequoia Financial Advisors LLC bought a new position in Peloton Interactive during the fourth quarter worth $107,000. Moors & Cabot Inc. boosted its position in Peloton Interactive by 283.4% during the fourth quarter. Moors & Cabot Inc. now owns 39,870 shares of the company’s stock worth $347,000 after purchasing an additional 29,470 shares during the period. Wealthfront Advisers LLC boosted its position in Peloton Interactive by 1,510.7% during the fourth quarter. Wealthfront Advisers LLC now owns 270,753 shares of the company’s stock worth $2,356,000 after purchasing an additional 253,943 shares during the period. Finally, Citizens Financial Group Inc. RI bought a new position in Peloton Interactive during the fourth quarter worth $101,000. 77.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PTON has been the subject of a number of research reports. Telsey Advisory Group reissued a “market perform” rating and set a $11.00 target price on shares of Peloton Interactive in a report on Monday, February 3rd. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a report on Thursday, February 6th. Citigroup dropped their target price on Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 10th. UBS Group raised Peloton Interactive from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $2.50 to $10.00 in a report on Friday, December 6th. Finally, Argus raised Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Tuesday, February 11th. Sixteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Peloton Interactive currently has a consensus rating of “Hold” and a consensus target price of $8.38.

Peloton Interactive Stock Up 6.3 %

PTON stock opened at $6.10 on Thursday. The company has a market cap of $2.38 billion, a PE ratio of -7.92 and a beta of 1.95. The business has a 50-day simple moving average of $8.21 and a 200 day simple moving average of $7.40. Peloton Interactive, Inc. has a 52 week low of $2.70 and a 52 week high of $10.90.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). On average, analysts anticipate that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Peloton Interactive news, insider Andrew S. Rendich sold 17,401 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $8.18, for a total transaction of $142,340.18. Following the completion of the transaction, the insider now owns 362,573 shares of the company’s stock, valued at approximately $2,965,847.14. The trade was a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Cunningham Cotter sold 187,238 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $6.45, for a total value of $1,207,685.10. Following the transaction, the insider now directly owns 100,269 shares of the company’s stock, valued at approximately $646,735.05. The trade was a 65.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 584,719 shares of company stock valued at $4,958,301. 1.34% of the stock is currently owned by corporate insiders.

Peloton Interactive Profile

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.