Bank of Nova Scotia Invests $133,000 in Peloton Interactive, Inc. (NASDAQ:PTON)

Bank of Nova Scotia bought a new stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 15,266 shares of the company’s stock, valued at approximately $133,000.

Other large investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Peloton Interactive in the fourth quarter worth $360,000. Rhumbline Advisers increased its holdings in Peloton Interactive by 7.8% in the 4th quarter. Rhumbline Advisers now owns 479,134 shares of the company’s stock valued at $4,168,000 after acquiring an additional 34,514 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Peloton Interactive by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,136,182 shares of the company’s stock worth $35,985,000 after purchasing an additional 139,826 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Peloton Interactive during the 3rd quarter valued at about $505,000. Finally, Raymond James Financial Inc. bought a new position in shares of Peloton Interactive during the 4th quarter valued at about $1,158,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

Peloton Interactive Trading Up 0.5 %

NASDAQ:PTON opened at $5.73 on Wednesday. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -7.44 and a beta of 2.21. Peloton Interactive, Inc. has a twelve month low of $2.70 and a twelve month high of $10.90. The stock has a fifty day simple moving average of $7.04 and a 200-day simple moving average of $7.65.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.04). As a group, equities research analysts predict that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In related news, insider Jennifer Cunningham Cotter sold 187,238 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $6.45, for a total value of $1,207,685.10. Following the completion of the transaction, the insider now owns 100,269 shares of the company’s stock, valued at $646,735.05. The trade was a 65.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew S. Rendich sold 17,401 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $8.18, for a total value of $142,340.18. Following the sale, the insider now directly owns 362,573 shares in the company, valued at $2,965,847.14. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 674,338 shares of company stock worth $5,522,838 over the last three months. 1.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on PTON shares. Macquarie reiterated a “neutral” rating and issued a $9.00 target price on shares of Peloton Interactive in a research report on Monday, February 10th. Citigroup decreased their price objective on Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Canaccord Genuity Group upgraded Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Friday, March 14th. JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Peloton Interactive from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.59.

Peloton Interactive Profile

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.