HighTower Advisors LLC Lowers Stock Position in Peloton Interactive, Inc. (NASDAQ:PTON)

HighTower Advisors LLC cut its holdings in Peloton Interactive, Inc. (NASDAQ:PTON) by 13.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,723 shares of the company’s stock after selling 6,927 shares during the quarter. HighTower Advisors LLC’s holdings in Peloton Interactive were worth $203,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PTON. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Peloton Interactive in the third quarter worth $5,724,000. Gtcr LLC bought a new position in Peloton Interactive in the 3rd quarter worth about $65,520,000. Select Equity Group L.P. purchased a new stake in Peloton Interactive during the 2nd quarter valued at about $1,832,000. Versor Investments LP bought a new stake in Peloton Interactive during the 3rd quarter valued at about $415,000. Finally, Intech Investment Management LLC purchased a new position in Peloton Interactive in the third quarter worth about $327,000. 77.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CAO Saqib Baig sold 36,776 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.53, for a total transaction of $276,923.28. Following the completion of the transaction, the chief accounting officer now owns 137,357 shares of the company’s stock, valued at $1,034,298.21. This represents a 21.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Karen Boone sold 16,925 shares of Peloton Interactive stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $9.64, for a total value of $163,157.00. Following the completion of the sale, the chief executive officer now directly owns 228,217 shares in the company, valued at $2,200,011.88. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 430,539 shares of company stock valued at $3,260,596 over the last ninety days. 1.34% of the stock is currently owned by company insiders.

Peloton Interactive Stock Up 1.0 %

PTON stock opened at $9.36 on Thursday. The business’s 50-day moving average price is $8.45 and its 200-day moving average price is $5.56. The stock has a market cap of $3.57 billion, a P/E ratio of -8.75 and a beta of 1.90. Peloton Interactive, Inc. has a twelve month low of $2.70 and a twelve month high of $10.90.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. During the same period in the prior year, the firm posted ($0.44) EPS. Peloton Interactive’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts expect that Peloton Interactive, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PTON. JPMorgan Chase & Co. raised their price target on shares of Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. UBS Group upgraded Peloton Interactive from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $2.50 to $10.00 in a report on Friday, December 6th. Morgan Stanley upped their target price on shares of Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Truist Financial boosted 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. Sixteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.97.

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.