Peloton Interactive (NASDAQ:PTON) Shares Down 8% Following Insider Selling

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price fell 8% on Thursday following insider selling activity. The stock traded as low as $9.00 and last traded at $9.01. 7,309,920 shares were traded during mid-day trading, a decline of 51% from the average session volume of 14,859,367 shares. The stock had previously closed at $9.79.

Specifically, CFO Elizabeth F. Coddington sold 170,819 shares of Peloton Interactive stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.62, for a total transaction of $1,643,278.78. Following the sale, the chief financial officer now directly owns 275,212 shares in the company, valued at $2,647,539.44. This trade represents a 38.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew S. Rendich sold 121,883 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total transaction of $1,162,763.82. Following the completion of the transaction, the insider now owns 404,188 shares of the company’s stock, valued at $3,855,953.52. This represents a 23.17 % decrease in their position. The disclosure for this sale can be found here. In other news, CAO Saqib Baig sold 22,662 shares of Peloton Interactive stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total transaction of $220,954.50. Following the sale, the chief accounting officer now owns 130,031 shares in the company, valued at approximately $1,267,802.25. The trade was a 14.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PTON shares. BMO Capital Markets raised their price target on Peloton Interactive from $6.50 to $8.50 and gave the stock a “market perform” rating in a research note on Monday, November 4th. Argus upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Tuesday, February 11th. UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and upped their price target for the company from $2.50 to $10.00 in a research report on Friday, December 6th. Sanford C. Bernstein raised their price objective on shares of Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $11.00 price objective on shares of Peloton Interactive in a research note on Monday, February 3rd. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.38.

Peloton Interactive Stock Down 7.8 %

The company has a market cap of $3.52 billion, a price-to-earnings ratio of -11.69 and a beta of 1.95. The business has a fifty day simple moving average of $8.88 and a 200 day simple moving average of $6.99.

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

Institutional Investors Weigh In On Peloton Interactive

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of Peloton Interactive in the 4th quarter worth approximately $28,000. Russell Investments Group Ltd. grew its holdings in Peloton Interactive by 969.6% in the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock valued at $35,000 after purchasing an additional 3,636 shares during the last quarter. Comerica Bank increased its position in shares of Peloton Interactive by 29.1% in the fourth quarter. Comerica Bank now owns 6,164 shares of the company’s stock valued at $54,000 after buying an additional 1,389 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Peloton Interactive by 31.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after buying an additional 1,597 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Peloton Interactive in the 4th quarter worth about $69,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Peloton Interactive Company Profile

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.