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 0.46% to 25.78 million shares with purchase of 0.12 million shares. This fresh investment now brings its stake to 8.36% valued currently at $216.59 million. In addition, Morgan Stanley Investment Managem raised its holdings by 5.72 million to 18.09 million shares. And Darsana Capital Partners LP has lifted its position by 33.33% or 2.5 million shares – to 10.0 million shares.
With over 10.16 million Peloton Interactive Inc. (PTON) shares trading Tuesday and a closing price of $9.65 on the day, the dollar volume was approximately $98.05 million. The shares have shown a negative half year performance of -22.92% and its price on 11/22/22 lost nearly -1.13%. Currently, there are 339.01M common shares owned by the public and among those 310.68M shares have been available to trade.
Insiders at the company have transacted a total of 40 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 94,576 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 35,545 shares.
The top 3 mutual fund holders in Peloton Interactive Inc. are T Rowe Price Growth Stock Fund, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. T Rowe Price Growth Stock Fund owns 9.75 million shares of the company’s stock, all valued at over $81.87 million. The company sold 40173.0 shares recently to bring their total holdings to about 3.16% of the shares outstanding. Vanguard Total Stock Market Index bought 31513.0 shares to see its total holdings expand to 8.83 million shares valued at over $74.19 million and representing 2.86% of the shares outstanding. Vanguard Small Cap Index Fund bought 0.12 million shares to bring its total holdings to over 7.53 million shares at a value of $63.27 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.44% of the shares outstanding.
Shares of Peloton Interactive Inc. (NASDAQ: PTON) opened at $9.53, down -$0.23 from a prior closing price of $9.76. However, the script later moved the day high at 9.72, down -1.13%. The company’s stock has a 5-day price change of -18.50% and -28.41% over the past three months. PTON shares are trading -73.01% year to date (YTD), with the 12-month market performance down to -78.11% lower. It has a 12-month low price of $6.66 and touched a high of $47.75 over the same period. PTON has an average intraday trading volume of 16.94 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 2.54%, 9.03%, and -36.22% respectively.
Institutional ownership of Peloton Interactive Inc. (NASDAQ: PTON) shares accounts for 86.70% of the company’s 339.01M shares outstanding. Mutual fund holders own 36.96%, while other institutional holders and individual stakeholders account for 7.61% and 36.91% respectively.
It has a market capitalization of $3.47B. The earnings-per-share (ttm) stands at -$8.57. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.44% over the week and 9.61% over the month.
Analysts forecast that Peloton Interactive Inc. (PTON) will achieve an EPS of -$0.65 for the current quarter, -$0.63 for the next quarter and -$1 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.22 while analysts give the company a high EPS estimate of -$0.47. Comparatively, EPS for the current quarter was -$1.25 a year ago. Earnings per share for the fiscal year are expected to increase by 70.80%, and 56.90% over the next financial year.
Looking at the support for the PTON, a number of firms have released research notes about the stock. Cowen stated their Market Perform rating for the stock in a research note on November 22, 2022, with the firm’s price target at $14-$12. BofA Securities coverage for the Peloton Interactive Inc. (PTON) stock in a research note released on November 02, 2022 offered a Buy rating with a price target of $16. Telsey Advisory Group was of a view on October 28, 2022 that the stock is Market Perform, while Oppenheimer gave the stock Outperform rating on July 22, 2022, issuing a price target of $18- $20. Piper Sandler on their part issued Neutral rating on July 22, 2022.