First Trust Direct Indexing L.P. Cuts Holdings in Peloton Interactive, Inc. (NASDAQ:PTON)

First Trust Direct Indexing L.P. lessened its position in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 47.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,496 shares of the company’s stock after selling 9,595 shares during the period. First Trust Direct Indexing L.P.’s holdings in Peloton Interactive were worth $49,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV acquired a new position in shares of Peloton Interactive in the 2nd quarter valued at about $27,000. Skylands Capital LLC acquired a new position in Peloton Interactive during the second quarter valued at approximately $30,000. Nisa Investment Advisors LLC lifted its position in Peloton Interactive by 1,836.7% during the second quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock valued at $32,000 after buying an additional 9,000 shares in the last quarter. Schneider Downs Wealth Management Advisors LP purchased a new stake in Peloton Interactive during the second quarter worth approximately $35,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Peloton Interactive in the second quarter worth $35,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Peloton Interactive

In other news, insider Nick V. Caldwell purchased 31,337 shares of Peloton Interactive stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $4.25 per share, for a total transaction of $133,182.25. Following the acquisition, the insider now directly owns 31,337 shares in the company, valued at $133,182.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Peloton Interactive news, insider Nick V. Caldwell bought 31,337 shares of Peloton Interactive stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $4.25 per share, for a total transaction of $133,182.25. Following the completion of the purchase, the insider now directly owns 31,337 shares of the company’s stock, valued at $133,182.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Karen Boone sold 13,484 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $8.27, for a total transaction of $111,512.68. Following the transaction, the chief executive officer now owns 211,459 shares in the company, valued at approximately $1,748,765.93. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 194,888 shares of company stock worth $1,038,717 over the last 90 days. 1.34% of the stock is currently owned by corporate insiders.

Peloton Interactive Price Performance

Shares of PTON stock opened at $7.93 on Thursday. Peloton Interactive, Inc. has a 12-month low of $2.70 and a 12-month high of $8.92. The business has a 50 day simple moving average of $5.29 and a 200 day simple moving average of $4.16. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -7.41 and a beta of 1.93.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.44) EPS. On average, equities analysts anticipate that Peloton Interactive, Inc. will post -0.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Roth Mkm upped their price target on shares of Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. BMO Capital Markets increased their target price on Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a research note on Monday. TD Cowen boosted their price target on Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a research report on Thursday, October 3rd. Finally, Telsey Advisory Group boosted their target price on shares of Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Sixteen research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Peloton Interactive presently has a consensus rating of “Hold” and an average price target of $6.57.

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.