Morgan Stanley Investment Managem 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 52.01% to 38.76 million shares with purchase of 13.26 million shares. This fresh investment now brings its stake to 11.32% valued currently at $219.38 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.23 million to 29.13 million shares. And T. Rowe Price Associates, Inc. has lifted its position by 0.72% or 0.15 million shares – to 20.73 million shares.
With over 67.18 million Peloton Interactive Inc (PTON) shares trading Friday and a closing price of $6.72 on the day, the dollar volume was approximately $451.42 million. The shares have shown a negative half year performance of -16.73% and its price on 01/05/24 gained nearly 9.62%. Currently, there are 338.75M common shares owned by the public and among those 313.13M shares have been available to trade.
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Insiders at the company have transacted a total of 93 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 60 of these insider trades were purchases, accounting for 1,117,125 shares. Insider sales of the common stock occurred on 33 occasions, with total insider shares sold totaling 715,943 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 18.26 million shares of the company’s stock, all valued at over $103.33 million. The company sold 61168.0 shares recently to bring their total holdings to about 5.33% of the shares outstanding. Vanguard Total Stock Market ETF bought 17108.0 shares to see its total holdings expand to 10.07 million shares valued at over $56.98 million and representing 2.94% of the shares outstanding. Vanguard Small Cap Index Fund bought 25583.0 shares to bring its total holdings to over 8.33 million shares at a value of $47.17 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.43% of the shares outstanding.
Shares of Peloton Interactive Inc (NASDAQ: PTON) opened at $6.45, up $0.32 from a prior closing price of $6.13. However, the script later moved the day high at 7.24, up 9.62%. The company’s stock has a 5-day price change of 7.01% and 31.25% over the past three months. PTON shares are trading 10.34% year to date (YTD), with the 12-month market performance down to -23.98% lower. It has a 12-month low price of $4.28 and touched a high of $17.83 over the same period. PTON has an average intraday trading volume of 11.08 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 11.59%, 21.96%, and -5.44% respectively.
Institutional ownership of Peloton Interactive Inc (NASDAQ: PTON) shares accounts for 72.74% of the company’s 338.75M shares outstanding. Mutual fund holders own 39.65%, while other institutional holders and individual stakeholders account for 7.00% and 36.37% respectively.
It has a market capitalization of $2.42B and a beta (3y monthly) value of 2.03. The earnings-per-share (ttm) stands at -$2.89. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.22% over the week and 7.55% over the month.
Analysts forecast that Peloton Interactive Inc (PTON) will achieve an EPS of -$0.52 for the current quarter, -$0.34 for the next quarter and -$1.16 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.62 while analysts give the company a high EPS estimate of -$0.38. Comparatively, EPS for the current quarter was -$0.98 a year ago. Earnings per share for the fiscal year are expected to increase by 60.36%, and 20.71% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 25 brokerage firm advisors rate Peloton Interactive Inc (PTON) as a “Moderate Buy” at a consensus score of 2.84. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 15 of the 25 advise that investors “hold,” and 3 rated it as a “Sell.”
Looking at the support for the PTON, a number of firms have released research notes about the stock. Deutsche Bank stated their Hold rating for the stock in a research note on November 07, 2023, with the firm’s price target at $13-$4.
