Peloton Interactive (NASDAQ:PTON) Stock Price Down 3.8% After Insider Selling

Peloton Interactive, Inc. (NASDAQ:PTON) shares fell 3.8% during trading on Monday following insider selling activity. The stock traded as low as $6.90 and last traded at $6.78. 1,169,517 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 15,770,081 shares. The stock had previously closed at $7.05.

Specifically, CFO Elizabeth F. Coddington sold 38,151 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $6.83, for a total value of $260,571.33. Following the completion of the transaction, the chief financial officer now owns 258,880 shares in the company, valued at $1,768,150.40. This trade represents a 12.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

A number of research firms have recently commented on PTON. The Goldman Sachs Group raised their target price on Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Canaccord Genuity Group raised Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Friday, March 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research report on Thursday, February 6th. Macquarie reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Peloton Interactive in a research report on Monday, February 10th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a research report on Friday, February 7th. Fifteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Peloton Interactive currently has a consensus rating of “Hold” and a consensus target price of $8.69.

Peloton Interactive Trading Down 2.0 %

The stock has a market capitalization of $2.52 billion, a PE ratio of -8.39 and a beta of 1.95. The stock has a 50 day moving average price of $8.02 and a 200-day moving average price of $7.47.

Peloton Interactive (NASDAQ:PTON) last released 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). Research analysts forecast that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Peloton Interactive by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 35,059,790 shares of the company’s stock worth $305,020,000 after buying an additional 1,645,640 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Peloton Interactive by 38.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 16,820,256 shares of the company’s stock valued at $146,337,000 after purchasing an additional 4,635,667 shares in the last quarter. Gtcr LLC purchased a new position in Peloton Interactive during the third quarter valued at $65,520,000. DME Capital Management LP lifted its position in Peloton Interactive by 10.4% during the fourth quarter. DME Capital Management LP now owns 10,522,687 shares of the company’s stock valued at $91,547,000 after purchasing an additional 992,797 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in Peloton Interactive during the fourth quarter valued at $85,260,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

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.