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

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 245.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,227,854 shares of the company’s stock after purchasing an additional 3,004,757 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Peloton Interactive were worth $36,782,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Peloton Interactive during the fourth quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Peloton Interactive by 31.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after acquiring an additional 1,597 shares during the last quarter. Verdence Capital Advisors LLC bought a new stake in Peloton Interactive in the third quarter valued at approximately $52,000. Sanctuary Advisors LLC bought a new stake in Peloton Interactive in the third quarter valued at approximately $58,000. Finally, SBI Securities Co. Ltd. bought a new stake in Peloton Interactive in the fourth quarter valued at approximately $69,000. 77.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PTON. Macquarie reiterated a “neutral” rating and issued a $9.00 target price on shares of Peloton Interactive in a report on Monday, February 10th. Telsey Advisory Group reiterated a “market perform” rating and issued a $11.00 target price on shares of Peloton Interactive in a report on Monday, February 3rd. Citigroup reduced their target price on Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. The Goldman Sachs Group upped their target price on Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.38.

Insider Transactions at Peloton Interactive

In related news, insider Jennifer Cunningham Cotter sold 187,238 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 100,269 shares of the company’s stock, valued at approximately $646,735.05. This represents a 65.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Elizabeth F. Coddington sold 170,819 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.62, for a total value of $1,643,278.78. Following the completion of the sale, the chief financial officer now directly owns 275,212 shares of the company’s stock, valued at $2,647,539.44. The trade was a 38.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 584,719 shares of company stock valued at $4,958,301 over the last ninety days. 1.34% of the stock is owned by company insiders.

Peloton Interactive Stock Up 6.3 %

Shares of NASDAQ:PTON opened at $6.10 on Thursday. Peloton Interactive, Inc. has a twelve month low of $2.70 and a twelve month high of $10.90. The stock’s 50 day moving average is $8.21 and its 200-day moving average is $7.40. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -7.92 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results 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 research analysts anticipate that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

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.