The Vanguard Group, Inc. recently announced the acquisition of new stake in Peloton Interactive Inc. (NASDAQ:PTON). The institutional investor has increased its shareholding in the Consumer Cyclical company by 2.52% to 28.89 million shares with purchase of 0.71 million shares. This fresh investment now brings its stake to 8.52% valued currently at $184.34 million. In addition, Capital Research & Management Co raised its holdings by 12922.0 to 22.34 million shares. And Fidelity Management & Research Co has lifted its position by 47.24% or 5.71 million shares – to 17.79 million shares.
With over 11.97 million Peloton Interactive Inc. (PTON) shares trading Monday and a closing price of $4.63 on the day, the dollar volume was approximately $55.42 million. The shares have shown a negative half year performance of -54.07% and its price on 09/18/23 lost nearly -8.13%. Currently, there are 355.42M common shares owned by the public and among those 316.28M shares have been available to trade.
Top 5 EV Tech Stocks to Buy for 2023
The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".
Click Here to Download the FREE Report.
Sponsored
Insiders at the company have transacted a total of 75 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 44 of these insider trades were purchases, accounting for 771,810 shares. Insider sales of the common stock occurred on 31 occasions, with total insider shares sold totaling 561,975 shares.
The top 3 mutual fund holders in Peloton Interactive Inc. are American Funds Growth Fund of Ame, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. American Funds Growth Fund of Ame owns 18.32 million shares of the company’s stock, all valued at over $116.87 million. Vanguard Total Stock Market ETF sold 665.0 shares to see its total holdings shrink to 9.79 million shares valued at over $62.47 million and representing 2.89% of the shares outstanding. Vanguard Small Cap Index Fund bought 40284.0 shares to bring its total holdings to over 8.32 million shares at a value of $53.1 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.46% of the shares outstanding.
Shares of Peloton Interactive Inc. (NASDAQ: PTON) opened at $5.00, down -$0.04 from a prior closing price of $5.04. However, the script later moved the day high at 5.0000, down -8.13%. The company’s stock has a 5-day price change of -13.13% and -46.41% over the past three months. PTON shares are trading -41.69% year to date (YTD), with the 12-month market performance down to -56.65% lower. It has a 12-month low price of $4.96 and touched a high of $17.83 over the same period. PTON has an average intraday trading volume of 10.39 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -22.14%, -38.65%, and -51.79% respectively.
Institutional ownership of Peloton Interactive Inc. (NASDAQ: PTON) shares accounts for 86.60% of the company’s 355.42M shares outstanding. Mutual fund holders own 41.59%, while other institutional holders and individual stakeholders account for 7.00% and 35.48% respectively.
It has a market capitalization of $1.69B and a beta (3y monthly) value of 2.02. The earnings-per-share (ttm) stands at -$3.65. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.58% over the week and 6.71% over the month.
Analysts forecast that Peloton Interactive Inc. (PTON) will achieve an EPS of -$0.36 for the current quarter, -$0.43 for the next quarter and -$1.01 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.47 while analysts give the company a high EPS estimate of -$0.3. Comparatively, EPS for the current quarter was -$1.2 a year ago. Earnings per share for the fiscal year are expected to increase by 58.50%, and 23.50% over the next financial year.
Looking at the support for the PTON, a number of firms have released research notes about the stock. Macquarie stated their Neutral rating for the stock in a research note on August 30, 2023, with the firm’s price target at $7.
