Soros and Coatue Boosted Peloton Stakes Ahead of Big Rally

(Bloomberg) -- Soros Fund Management and Coatue Management were among hedge funds that boosted holdings of Peloton Interactive Inc. shares in the first quarter ahead of a huge rally.

Coatue raised its stake to 3.42 million shares, up from about 400,000 at the end of the year, according to a 13-F filing. Soros increased its stake to 3 million shares, up from about 2.7 million.

While it’s unclear whether the holdings have changed since March 31, Peloton shares nearly doubled since the end of the first quarter as demand for its exercise products have soared during the coronavirus pandemic. Coatue’s stake would have a current value of $165.6 million with Soros’s weighing in at $145.0 million.

Peloton jumped 7.3% on Friday to trade at a fresh record. The stock has now gained 82% since March 31.

©2020 Bloomberg L.P.