Peloton Interactive (NASDAQ:PTON) Shares Down 7.1% on Insider Selling

Peloton Interactive, Inc. (NASDAQ:PTON) shares fell 7.1% on Wednesday after an insider sold shares in the company. The stock traded as low as $6.52 and last traded at $6.5050. 2,591,565 shares changed hands during trading, a decline of 74% from the average session volume of 10,075,617 shares. The stock had previously closed at $7.00.

Specifically, insider Nick V. Caldwell sold 25,135 shares of the stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $7.00, for a total transaction of $175,945.00. Following the completion of the transaction, the insider owned 739,085 shares of the company’s stock, valued at $5,173,595. This represents a 3.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nick V. Caldwell sold 75,762 shares of the business’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $7.00, for a total value of $530,334.00. Following the completion of the sale, the insider owned 764,220 shares in the company, valued at $5,349,540. This represents a 9.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In other Peloton Interactive news, CAO Saqib Baig sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $6.87, for a total transaction of $68,700.00. Following the completion of the transaction, the chief accounting officer owned 170,665 shares in the company, valued at $1,172,468.55. This trade represents a 5.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Analyst Ratings Changes

A number of research firms have recently commented on PTON. Guggenheim started coverage on Peloton Interactive in a research report on Wednesday, December 10th. They set a “neutral” rating for the company. Zacks Research lowered shares of Peloton Interactive from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. The Goldman Sachs Group reissued a “buy” rating and issued a $11.50 price objective on shares of Peloton Interactive in a research note on Thursday, October 2nd. Canaccord Genuity Group restated a “buy” rating and issued a $10.00 target price on shares of Peloton Interactive in a report on Thursday, October 2nd. Finally, Truist Financial upped their target price on shares of Peloton Interactive from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Peloton Interactive has an average rating of “Hold” and an average target price of $9.86.

Peloton Interactive Trading Up 2.0%

The business’s 50 day moving average is $6.61 and its 200 day moving average is $7.17. The stock has a market capitalization of $2.80 billion, a PE ratio of -23.93, a PEG ratio of 1.98 and a beta of 2.40.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $550.80 million during the quarter, compared to analysts’ expectations of $540.61 million. Peloton Interactive’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, analysts anticipate that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Institutional Investors Weigh In On Peloton Interactive

Institutional investors and hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. bought a new stake in Peloton Interactive during the 2nd quarter valued at $338,000. Voya Investment Management LLC raised its position in shares of Peloton Interactive by 325.5% in the 3rd quarter. Voya Investment Management LLC now owns 429,929 shares of the company’s stock worth $3,869,000 after acquiring an additional 328,894 shares in the last quarter. Eminence Capital LP purchased a new stake in shares of Peloton Interactive during the 2nd quarter worth $112,681,000. Geode Capital Management LLC lifted its stake in shares of Peloton Interactive by 5.7% during the 2nd quarter. Geode Capital Management LLC now owns 9,141,542 shares of the company’s stock worth $63,450,000 after purchasing an additional 490,353 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Peloton Interactive during the second quarter valued at about $1,682,000. 77.01% of the stock is owned by institutional investors.

Peloton Interactive Company Profile

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.