Peloton Interactive (NASDAQ:PTON) Stock Price Down 3.8% on Insider Selling

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price traded down 3.8% during mid-day trading on Monday following insider selling activity. The stock traded as low as $6.90 and last traded at $6.78. 1,169,517 shares changed hands during trading, a decline of 93% from the average session volume of 15,770,081 shares. The stock had previously closed at $7.05.

Specifically, CFO Elizabeth F. Coddington sold 38,151 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $6.83, for a total transaction of $260,571.33. Following the transaction, the chief financial officer now directly owns 258,880 shares in the company, valued at $1,768,150.40. This trade represents a 12.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup cut their target price 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 on the stock in a report on Friday, March 14th. Argus upgraded Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Tuesday, February 11th. Macquarie reiterated a “neutral” rating and issued a $9.00 price objective on shares of Peloton Interactive in a research note on Monday, February 10th. Finally, JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a research note on Friday, February 7th. Fifteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.69.

Peloton Interactive Stock Down 2.0 %

The business has a 50-day moving average of $8.02 and a two-hundred day moving average of $7.47. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of -8.39 and a beta of 1.95.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PTON. Townsquare Capital LLC raised its stake in Peloton Interactive by 6.5% during the 4th quarter. Townsquare Capital LLC now owns 19,280 shares of the company’s stock worth $168,000 after buying an additional 1,172 shares during the period. PDT Partners LLC lifted its stake in Peloton Interactive by 0.7% in the 3rd quarter. PDT Partners LLC now owns 205,573 shares of the company’s stock valued at $962,000 after acquiring an additional 1,373 shares in the last quarter. Comerica Bank boosted its holdings in Peloton Interactive by 29.1% during the fourth quarter. Comerica Bank now owns 6,164 shares of the company’s stock worth $54,000 after purchasing an additional 1,389 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Peloton Interactive by 9.1% in the 4th quarter. Cetera Investment Advisers now owns 17,144 shares of the company’s stock valued at $149,000 after acquiring an additional 1,432 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Peloton Interactive by 3.8% during the fourth quarter. Victory Capital Management Inc. now owns 42,084 shares of the company’s stock valued at $366,000 after purchasing an additional 1,534 shares during the last quarter. 77.01% of the stock is owned by institutional investors and hedge funds.

About Peloton Interactive

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.