Saqib Baig Sells 22,662 Shares of Peloton Interactive, Inc. (NASDAQ:PTON) Stock

Peloton Interactive, Inc. (NASDAQ:PTON) CAO Saqib Baig sold 22,662 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total transaction of $220,954.50. Following the completion of the sale, the chief accounting officer now directly owns 130,031 shares in the company, valued at $1,267,802.25. This represents a 14.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Peloton Interactive Trading Down 7.6 %

Shares of NASDAQ PTON opened at $9.05 on Friday. Peloton Interactive, Inc. has a 12 month low of $2.70 and a 12 month high of $10.90. The firm has a fifty day simple moving average of $8.87 and a two-hundred day simple moving average of $7.00. The firm has a market capitalization of $3.53 billion, a PE ratio of -11.75 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). On average, sell-side analysts predict that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Institutional Investors Weigh In On Peloton Interactive

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

Wall Street Analyst Weigh In

PTON has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Peloton Interactive from $5.00 to $7.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research report on Thursday, February 6th. The Goldman Sachs Group upped their price objective on Peloton Interactive from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Robert W. Baird raised their price objective on Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Morgan Stanley upped their target price on Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.38.

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.