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

Peloton Interactive, Inc. (NASDAQ:PTON) shares traded down 3.8% during trading on Monday after an insider sold shares in the company. The company traded as low as $6.90 and last traded at $6.78. 1,169,517 shares changed hands during 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 stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $6.83, for a total value of $260,571.33. Following the sale, the chief financial officer now directly owns 258,880 shares in the company, valued at $1,768,150.40. This 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.

Analyst Ratings Changes

Several research firms have recently weighed in on PTON. UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and raised their price objective for the company from $2.50 to $10.00 in a research report on Friday, December 6th. Argus upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Tuesday, February 11th. Canaccord Genuity Group upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Friday, March 14th. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research report on Thursday, February 6th. Finally, Macquarie restated a “neutral” rating and set a $9.00 price objective on shares of Peloton Interactive in a research report on Monday, February 10th. Fifteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $8.69.

Peloton Interactive Trading Down 2.0 %

The company has a market capitalization of $2.52 billion, a PE ratio of -8.39 and a beta of 1.95. The firm has a fifty day moving average of $8.02 and a two-hundred day moving average of $7.47.

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

Institutional Investors Weigh In On Peloton Interactive

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC purchased a new stake in Peloton Interactive in the 4th quarter worth approximately $108,000. Carolinas Wealth Consulting LLC purchased a new stake in Peloton Interactive in the 4th quarter worth approximately $87,000. Garde Capital Inc. lifted its holdings in Peloton Interactive by 96.0% in the 4th quarter. Garde Capital Inc. now owns 459,427 shares of the company’s stock worth $3,997,000 after buying an additional 225,000 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Peloton Interactive by 497.8% in the 4th quarter. Mackenzie Financial Corp now owns 128,810 shares of the company’s stock valued at $1,121,000 after purchasing an additional 107,264 shares during the period. Finally, Castleark Management LLC purchased a new position in shares of Peloton Interactive in the 4th quarter valued at approximately $3,507,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.