Principal Financial Group Inc. Trims Stock Position in Peloton Interactive, Inc. (NASDAQ:PTON)

Principal Financial Group Inc. decreased its stake in Peloton Interactive, Inc. (NASDAQ:PTON) by 30.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,112 shares of the company’s stock after selling 13,686 shares during the quarter. Principal Financial Group Inc.’s holdings in Peloton Interactive were worth $146,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV acquired a new position in Peloton Interactive in the second quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Peloton Interactive by 31.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock worth $31,000 after buying an additional 1,597 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Peloton Interactive during the second quarter valued at $35,000. Schneider Downs Wealth Management Advisors LP purchased a new position in Peloton Interactive in the second quarter valued at $35,000. Finally, Koss Olinger Consulting LLC acquired a new position in shares of Peloton Interactive in the second quarter worth about $36,000. 77.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Peloton Interactive

In related news, CEO Karen Boone sold 16,925 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $9.64, for a total transaction of $163,157.00. Following the completion of the transaction, the chief executive officer now owns 228,217 shares of the company’s stock, valued at approximately $2,200,011.88. This trade represents a 6.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew S. Rendich sold 138,391 shares of Peloton Interactive stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the completion of the sale, the insider now owns 287,973 shares of the company’s stock, valued at $2,162,677.23. This trade represents a 32.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 447,798 shares of company stock worth $3,409,541. Insiders own 1.34% of the company’s stock.

Peloton Interactive Stock Down 1.9 %

Shares of PTON opened at $8.74 on Wednesday. The stock has a fifty day simple moving average of $9.00 and a two-hundred day simple moving average of $5.91. The company has a market capitalization of $3.33 billion, a PE ratio of -8.17 and a beta of 1.95. Peloton Interactive, Inc. has a 52-week low of $2.70 and a 52-week high of $10.90.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, October 31st. The company reported ($0.16) EPS 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 the consensus estimate of $572.97 million. During the same quarter in the previous year, the business earned ($0.44) earnings per share. Peloton Interactive’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Peloton Interactive, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. 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. BMO Capital Markets boosted their price target on shares of Peloton Interactive from $6.50 to $8.50 and gave the stock a “market perform” rating in a report on Monday, November 4th. Sanford C. Bernstein upped their price objective on shares of Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a research report on Friday, November 1st. JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a research report on Thursday, October 3rd. Finally, Truist Financial upped their price target on shares of Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Sixteen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.97.

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.