Principal Financial Group Inc. Sells 13,686 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

Principal Financial Group Inc. trimmed its holdings in Peloton Interactive, Inc. (NASDAQ:PTON) by 30.6% in the 3rd quarter, Holdings Channel reports. 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 filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in Peloton Interactive by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after purchasing an additional 1,215,397 shares during the last quarter. DNB Asset Management AS lifted its position in shares of Peloton Interactive by 42.4% in the 2nd quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after acquiring an additional 3,611,069 shares during the period. DME Capital Management LP acquired a new stake in shares of Peloton Interactive during the 2nd quarter worth approximately $22,947,000. Clearline Capital LP bought a new stake in shares of Peloton Interactive during the second quarter valued at approximately $7,527,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Peloton Interactive in the first quarter worth $5,877,000. Institutional investors own 77.01% of the company’s stock.

Analyst Ratings Changes

PTON has been the topic of several analyst reports. Telsey Advisory Group boosted their price target on shares of Peloton Interactive from $5.00 to $9.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Sanford C. Bernstein increased their price target 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. Bank of America raised Peloton Interactive from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $3.75 to $9.00 in a report on Monday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a report on Friday, November 1st. Finally, Truist Financial upped their price target on Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Fifteen equities research analysts have rated the stock with a hold rating and three 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 $6.75.

Peloton Interactive Price Performance

PTON opened at $9.58 on Tuesday. The firm has a 50 day simple moving average of $6.30 and a 200 day simple moving average of $4.63. Peloton Interactive, Inc. has a fifty-two week low of $2.70 and a fifty-two week high of $9.88. The company has a market cap of $3.65 billion, a price-to-earnings ratio of -8.95 and a beta of 1.93.

Peloton Interactive (NASDAQ:PTON) last issued its 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 business had revenue of $586.00 million for the quarter, compared to the consensus estimate of $572.97 million. During the same period last year, the firm earned ($0.44) EPS. The business’s revenue was down 1.6% on a year-over-year basis. As a group, analysts expect that Peloton Interactive, Inc. will post -0.38 EPS for the current year.

Insider Activity at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 186,462 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $7.58, for a total value of $1,413,381.96. Following the sale, the chief financial officer now directly owns 223,017 shares of the company’s stock, valued at approximately $1,690,468.86. The trade was a 45.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew S. Rendich sold 138,391 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.51, for a total value of $1,039,316.41. Following the completion of the sale, the insider now owns 287,973 shares in the company, valued at approximately $2,162,677.23. This trade represents a 32.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 506,517 shares of company stock worth $3,524,339 in the last ninety days. Company insiders own 1.34% of the company’s stock.

Peloton Interactive 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.