Bastion Asset Management Inc. Makes New Investment in Peloton Interactive, Inc. $PTON

Bastion Asset Management Inc. acquired a new position in Peloton Interactive, Inc. (NASDAQ:PTON) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,655,100 shares of the company’s stock, valued at approximately $7,020,000. Peloton Interactive makes up approximately 2.2% of Bastion Asset Management Inc.’s portfolio, making the stock its 14th largest position. Bastion Asset Management Inc. owned approximately 0.39% of Peloton Interactive as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PTON. Wealthfront Advisers LLC grew its stake in Peloton Interactive by 15.7% during the first quarter. Wealthfront Advisers LLC now owns 19,118 shares of the company’s stock worth $82,000 after purchasing an additional 2,595 shares during the period. Principal Financial Group Inc. lifted its stake in Peloton Interactive by 10.2% in the first quarter. Principal Financial Group Inc. now owns 21,263 shares of the company’s stock valued at $91,000 after buying an additional 1,967 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Peloton Interactive by 246.1% during the 1st quarter. Hsbc Holdings PLC now owns 127,825 shares of the company’s stock worth $555,000 after buying an additional 90,894 shares in the last quarter. Waterfront Wealth Inc. bought a new position in shares of Peloton Interactive during the 1st quarter worth approximately $733,000. Finally, Kestra Advisory Services LLC grew its position in shares of Peloton Interactive by 10.8% during the 1st quarter. Kestra Advisory Services LLC now owns 30,385 shares of the company’s stock worth $130,000 after buying an additional 2,964 shares during the period. 77.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Saqib Baig sold 29,075 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.27, for a total value of $153,225.25. Following the transaction, the chief financial officer owned 250,019 shares of the company’s stock, valued at approximately $1,317,600.13. This trade represents a 10.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dion C. Sanders sold 112,523 shares of Peloton Interactive stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $5.19, for a total value of $583,994.37. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 176,241 shares of company stock worth $925,207 over the last ninety days. Insiders own 1.30% of the company’s stock.

Peloton Interactive Stock Down 0.6%

Shares of NASDAQ:PTON opened at $6.29 on Friday. Peloton Interactive, Inc. has a twelve month low of $3.65 and a twelve month high of $9.20. The stock’s 50 day moving average is $5.74 and its 200-day moving average is $5.24. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 157.29, a PEG ratio of 0.47 and a beta of 2.52.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Peloton Interactive had a net margin of 0.94% and a negative return on equity of 6.95%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.12) earnings per share. Equities research analysts anticipate that Peloton Interactive, Inc. will post 0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. UBS Group reiterated a “buy” rating on shares of Peloton Interactive in a research report on Monday, June 15th. Telsey Advisory Group restated a “market perform” rating on shares of Peloton Interactive in a report on Wednesday, May 27th. Weiss Ratings raised shares of Peloton Interactive from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group upped their price objective on shares of Peloton Interactive from $7.00 to $8.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of Peloton Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.25.

Peloton Interactive Profile

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.