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

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price was down 8% on Thursday following insider selling activity. The company traded as low as $9.00 and last traded at $9.01. Approximately 7,309,920 shares traded hands during trading, a decline of 51% from the average daily 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 stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $9.62, for a total value of $1,643,278.78. Following the completion of the sale, the chief financial officer now owns 275,212 shares in the company, valued at $2,647,539.44. This represents a 38.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew S. Rendich sold 121,883 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total transaction of $1,162,763.82. Following the completion of the sale, the insider now owns 404,188 shares of the company’s stock, valued at approximately $3,855,953.52. This represents a 23.17 % decrease in their position. The disclosure for this sale can be found here. In other news, CAO Saqib Baig sold 22,662 shares of the stock in a transaction dated 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 sale, the chief accounting officer now 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 document filed with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America upgraded shares of Peloton Interactive from an “underperform” rating to a “buy” rating and increased their target price for the company from $3.75 to $9.00 in a report on Monday, November 4th. JPMorgan Chase & Co. increased their target price on shares of Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Telsey Advisory Group reiterated a “market perform” rating and issued a $11.00 target price on shares of Peloton Interactive in a report on Monday, February 3rd. BMO Capital Markets increased their target price on shares of Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a report on Monday, November 4th. Finally, Citigroup decreased their price objective on shares of Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Sixteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Peloton Interactive currently has an average rating of “Hold” and an average target price of $8.38.

Peloton Interactive Stock Down 7.6 %

The stock has a market cap of $3.53 billion, a P/E ratio of -11.75 and a beta of 1.95. The business’s 50-day simple moving average is $8.87 and its two-hundred day simple moving average is $7.00.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). Analysts anticipate that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Peloton Interactive

A number of large investors have recently modified their holdings of PTON. Ballentine Partners LLC bought a new position in shares of Peloton Interactive in the third quarter valued at approximately $55,000. Verdence Capital Advisors LLC bought a new stake in Peloton Interactive during the third quarter valued at approximately $52,000. Los Angeles Capital Management LLC bought a new stake in Peloton Interactive during the third quarter valued at approximately $212,000. Weil Company Inc. bought a new stake in Peloton Interactive during the third quarter valued at approximately $77,000. Finally, Versor Investments LP bought a new stake in Peloton Interactive during the third quarter valued at approximately $415,000. 77.01% of the stock is currently owned by institutional investors.

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.