Peloton Interactive, Inc. (NASDAQ:PTON) Shares Sold by State Street Corp

State Street Corp reduced its stake in Peloton Interactive, Inc. (NASDAQ:PTON) by 0.8% during the 3rd quarter, Holdings Channel reports. The fund owned 7,836,398 shares of the company’s stock after selling 65,795 shares during the quarter. State Street Corp’s holdings in Peloton Interactive were worth $36,674,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PTON. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Peloton Interactive by 31.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after acquiring an additional 1,597 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Peloton Interactive during the 2nd quarter worth $27,000. Skylands Capital LLC acquired a new position in Peloton Interactive in the 2nd quarter valued at about $30,000. Nisa Investment Advisors LLC increased its holdings in shares of Peloton Interactive by 1,836.7% in the second quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock valued at $32,000 after purchasing an additional 9,000 shares during the period. Finally, Schneider Downs Wealth Management Advisors LP purchased a new position in Peloton Interactive during the 2nd quarter worth $35,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Peloton Interactive

In other news, insider Andrew S. Rendich sold 138,391 shares of the company’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 sale, the insider now owns 287,973 shares in the company, valued at approximately $2,162,677.23. This represents a 32.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Saqib Baig sold 36,776 shares of Peloton Interactive stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $7.53, for a total value of $276,923.28. Following the completion of the transaction, the chief accounting officer now owns 137,357 shares of the company’s stock, valued at $1,034,298.21. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 430,539 shares of company stock valued at $3,260,596. Corporate insiders own 1.34% of the company’s stock.

Peloton Interactive Trading Up 1.6 %

NASDAQ:PTON opened at $9.38 on Friday. The firm’s fifty day simple moving average is $8.21 and its 200 day simple moving average is $5.43. Peloton Interactive, Inc. has a twelve month low of $2.70 and a twelve month high of $10.90. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -8.77 and a beta of 1.90.

Peloton Interactive (NASDAQ:PTON) last released 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 during the quarter, compared to analysts’ expectations of $572.97 million. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.44) earnings per share. On average, analysts predict that Peloton Interactive, Inc. will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PTON. TD Cowen upped their price objective on Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Telsey Advisory Group lifted 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. Sanford C. Bernstein raised their price target on Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Robert W. Baird raised their price target on shares of Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and raised their target price for the stock from $2.50 to $10.00 in a research report on Friday, December 6th. Sixteen research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Peloton Interactive currently has an average rating of “Hold” and an average price target of $6.97.

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.