Top 5 Tech Stocks to Buy Today According to Brad Gerstner’s Altimeter Capital Management

4. Peloton Interactive, Inc. (NASDAQ:PTON)

Gerstner’s Stake Value: $644.9 million

Percentage of Brad Gerstner’s 13F Portfolio: 4.85%

Number of Hedge Fund Holders: 67

Peloton Interactive, Inc. (NASDAQ:PTON) is a fitness equipment and media company that operates in the U.S. and was launched in 2012. The firm’s market capitalization is $30.618 billion.

Altimeter Capital Management has 5.2 million shares in Peloton Interactive, Inc. (NASDAQ:PTON) worth $644.9 million. The company was added to the firm’s portfolio in the first quarter of 2021. The fund increased its stake in the company by 512% in the second quarter of 2021. There was an increase in the hedge fund sentiment towards the company. Insider Monkey’s data shows that the number of hedge funds having stakes in the company is 67, compared to 64 in the previous quarter.

An investment management firm, Carillon Tower Advisers, mentioned Peloton Interactive, Inc. (NASDAQ:PTON) in its second-quarter 2021 investor letter. Here is what the fund said:

“Peloton Interactive operates a connected fitness platform offering live and on-demand classes allowing users to exercise at home. The firm’s shares were pressured in the quarter after Peloton announced a voluntary recall for both its legacy treadmill (Peloton Tread+) and its newly-launched base model treadmill (Peloton Tread). The issue surrounding the latter is somewhat troubling, as it appears it may be the result of an engineering flaw. This new treadmill offering was expected to be a key growth driver in the second half of 2021, and this development reduces our confidence in Peloton’s product pipeline. Therefore, we sold the stock.”