Stifel Financial Corp Lowers Stock Position in Peloton Interactive, Inc. (NASDAQ:PTON)

Stifel Financial Corp trimmed its holdings in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 20.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,749 shares of the company’s stock after selling 10,159 shares during the quarter. Stifel Financial Corp’s holdings in Peloton Interactive were worth $181,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Peloton Interactive during the 3rd quarter valued at $5,724,000. Gtcr LLC bought a new stake in Peloton Interactive during the third quarter valued at about $65,520,000. Select Equity Group L.P. purchased a new position in Peloton Interactive in the second quarter valued at about $1,832,000. Versor Investments LP bought a new position in Peloton Interactive in the third quarter worth about $415,000. Finally, Intech Investment Management LLC bought a new position in Peloton Interactive in the third quarter worth about $327,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Peloton Interactive

In other news, insider Andrew S. Rendich sold 138,391 shares of the firm’s 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $1,413,381.96. Following the completion of the transaction, the chief financial officer now owns 223,017 shares of the company’s stock, valued at approximately $1,690,468.86. This represents a 45.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 430,539 shares of company stock worth $3,260,596. Insiders own 1.34% of the company’s stock.

Peloton Interactive Trading Down 4.6 %

Shares of NASDAQ:PTON opened at $8.96 on Tuesday. Peloton Interactive, Inc. has a twelve month low of $2.70 and a twelve month high of $10.90. The company’s 50 day moving average is $8.62 and its 200 day moving average is $5.66. The company has a market cap of $3.42 billion, a PE ratio of -8.37 and a beta of 1.90.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $586.00 million for the quarter, compared to analysts’ expectations of $572.97 million. Peloton Interactive’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.44) EPS. Equities research analysts predict that Peloton Interactive, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PTON. UBS Group raised shares of Peloton Interactive from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $2.50 to $10.00 in a research report on Friday, December 6th. Macquarie lifted their price target on shares of Peloton Interactive from $4.90 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research report on Friday, November 1st. Truist Financial raised their price objective on Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Telsey Advisory Group upped their target price on Peloton Interactive from $5.00 to $9.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Sixteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.