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

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price fell 8% during mid-day trading 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 the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $9.62, for a total value of $1,643,278.78. Following the completion of the transaction, the chief financial officer now directly owns 275,212 shares of the company’s stock, valued at approximately $2,647,539.44. The trade was a 38.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew S. Rendich sold 121,883 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $9.54, for a total transaction of $1,162,763.82. Following the sale, the insider now directly owns 404,188 shares in the company, valued at $3,855,953.52. The trade was a 23.17 % decrease in their position. The disclosure for this sale can be found here. In related news, CAO Saqib Baig sold 22,662 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total value of $220,954.50. Following the completion of the transaction, the chief accounting officer now directly owns 130,031 shares in the company, valued at $1,267,802.25. The trade was a 14.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PTON. Truist Financial lifted their price objective on shares of Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a report on Friday, November 1st. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a report on Friday, February 7th. BMO Capital Markets raised their price objective on Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a report on Monday, November 4th. Robert W. Baird upped their target price on Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Bank of America raised shares of Peloton Interactive from an “underperform” rating to a “buy” rating and lifted their price target for the company from $3.75 to $9.00 in a research note on Monday, November 4th. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.38.

Peloton Interactive Trading Down 7.8 %

The company has a market capitalization of $3.52 billion, a PE ratio of -11.69 and a beta of 1.95. The business has a fifty day moving average of $8.88 and a 200 day moving average of $6.99.

Peloton Interactive (NASDAQ:PTON) last announced 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 forecast that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Institutional Trading of Peloton Interactive

A number of large investors have recently modified their holdings of the stock. Townsquare Capital LLC grew 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 purchasing an additional 1,172 shares in the last quarter. PDT Partners LLC grew its position in shares of Peloton Interactive by 0.7% during the third quarter. PDT Partners LLC now owns 205,573 shares of the company’s stock worth $962,000 after buying an additional 1,373 shares in the last quarter. Comerica Bank increased its stake in shares of 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 buying an additional 1,389 shares during the period. Cetera Investment Advisers raised its holdings in Peloton Interactive by 9.1% in the fourth 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. lifted its stake in Peloton Interactive by 3.8% in the fourth quarter. Victory Capital Management Inc. now owns 42,084 shares of the company’s stock worth $366,000 after acquiring an additional 1,534 shares during the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.