Peloton Interactive (NASDAQ:PTON) Stock Price Down 5.8% Following Insider Selling

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price dropped 5.8% during trading on Monday following insider selling activity. The company traded as low as $5.49 and last traded at $5.50. Approximately 5,065,062 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 15,420,703 shares. The stock had previously closed at $5.84.

Specifically, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $5.80, for a total value of $144,866.60. Following the completion of the sale, the chief executive officer now directly owns 149,240 shares of the company’s stock, valued at $865,592. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

A number of brokerages have recently commented on PTON. Wolfe Research started coverage on shares of Peloton Interactive in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Macquarie reiterated a “neutral” rating and issued a $2.53 price objective on shares of Peloton Interactive in a research report on Thursday, August 22nd. JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. Robert W. Baird lifted their price target on shares of Peloton Interactive from $4.00 to $4.75 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Sanford C. Bernstein raised their price objective on shares of Peloton Interactive from $3.80 to $4.25 and gave the stock a “market perform” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Peloton Interactive currently has an average rating of “Hold” and an average price target of $4.52.

Peloton Interactive Trading Up 11.0 %

The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -4.06 and a beta of 2.04. The firm has a fifty day simple moving average of $4.60 and a 200-day simple moving average of $3.89.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, August 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.10. The firm had revenue of $644.00 million for the quarter, compared to analyst estimates of $633.00 million. The company’s revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned ($0.68) EPS. On average, equities analysts predict that Peloton Interactive, Inc. will post -0.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Peloton Interactive

Several institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its holdings in Peloton Interactive by 25,397.7% in the first quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock valued at $1,687,000 after purchasing an additional 392,141 shares during the last quarter. Select Equity Group L.P. bought a new stake in shares of Peloton Interactive in the 2nd quarter valued at about $1,832,000. The Manufacturers Life Insurance Company raised its position in shares of Peloton Interactive by 253.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company’s stock valued at $614,000 after acquiring an additional 130,242 shares during the period. Vanguard Group Inc. boosted its stake in Peloton Interactive by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after acquiring an additional 1,215,397 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Peloton Interactive by 1.2% during the first quarter. Swiss National Bank now owns 642,200 shares of the company’s stock valued at $2,752,000 after purchasing an additional 7,600 shares during the period. Institutional investors and hedge funds 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.