Saqib Baig Sells 32,672 Shares of Peloton Interactive (NASDAQ:PTON) Stock

Peloton Interactive, Inc. (NASDAQ:PTON) CAO Saqib Baig sold 32,672 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $8.35, for a total value of $272,811.20. Following the sale, the chief accounting officer owned 177,020 shares in the company, valued at approximately $1,478,117. This represents a 15.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Peloton Interactive Stock Down 1.4%

Shares of PTON opened at $7.73 on Thursday. The business’s 50-day moving average price is $6.90 and its 200-day moving average price is $6.91. Peloton Interactive, Inc. has a twelve month low of $3.18 and a twelve month high of $10.90. The stock has a market cap of $3.15 billion, a PE ratio of -24.93 and a beta of 2.08.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company had revenue of $606.90 million for the quarter, compared to the consensus estimate of $580.29 million. During the same quarter in the prior year, the company earned ($0.08) earnings per share. The company’s quarterly revenue was down 5.8% on a year-over-year basis. Peloton Interactive has set its FY 2025 guidance at EPS. Analysts expect that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PTON. Russell Investments Group Ltd. grew its position in Peloton Interactive by 969.6% during the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock valued at $35,000 after acquiring an additional 3,636 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Peloton Interactive during the first quarter valued at approximately $37,000. Bessemer Group Inc. grew its position in Peloton Interactive by 1,602.6% during the second quarter. Bessemer Group Inc. now owns 5,312 shares of the company’s stock valued at $37,000 after acquiring an additional 5,000 shares during the last quarter. MAI Capital Management grew its position in Peloton Interactive by 64.6% during the second quarter. MAI Capital Management now owns 5,498 shares of the company’s stock valued at $38,000 after acquiring an additional 2,158 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Peloton Interactive by 40.2% during the first quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company’s stock valued at $41,000 after acquiring an additional 1,864 shares during the last quarter. 77.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Truist Financial set a $11.00 price objective on shares of Peloton Interactive in a research report on Thursday, August 7th. Morgan Stanley upped their price objective on shares of Peloton Interactive from $4.00 to $5.75 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research report on Thursday, August 7th. The Goldman Sachs Group upgraded shares of Peloton Interactive from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $7.00 to $11.50 in a research report on Friday, August 8th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $8.00 price objective on shares of Peloton Interactive in a research report on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Peloton Interactive presently has an average rating of “Hold” and a consensus price target of $8.79.

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.