Principal Financial Group Inc. Lowers Holdings in Peloton Interactive, Inc. (NASDAQ:PTON)

Principal Financial Group Inc. reduced its holdings in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 30.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 31,112 shares of the company’s stock after selling 13,686 shares during the period. Principal Financial Group Inc.’s holdings in Peloton Interactive were worth $146,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its stake in shares of Peloton Interactive by 4.3% in the second quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company’s stock valued at $452,000 after acquiring an additional 5,463 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of Peloton Interactive during the second quarter worth $35,000. Rhumbline Advisers grew its stake in shares of Peloton Interactive by 26.4% during the second quarter. Rhumbline Advisers now owns 464,436 shares of the company’s stock worth $1,570,000 after purchasing an additional 96,897 shares in the last quarter. Arizona State Retirement System raised its stake in Peloton Interactive by 3.8% in the second quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock valued at $314,000 after buying an additional 3,377 shares in the last quarter. Finally, Koss Olinger Consulting LLC purchased a new stake in Peloton Interactive during the 2nd quarter worth about $36,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Peloton Interactive Stock Down 1.9 %

PTON opened at $8.74 on Wednesday. Peloton Interactive, Inc. has a 52 week low of $2.70 and a 52 week high of $10.90. The business has a 50 day moving average price of $9.00 and a two-hundred day moving average price of $5.91. The company has a market cap of $3.33 billion, a PE ratio of -8.17 and a beta of 1.95.

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 firm had revenue of $586.00 million during the quarter, compared to analyst estimates of $572.97 million. During the same period in the previous year, the business earned ($0.44) EPS. Peloton Interactive’s revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts expect that Peloton Interactive, Inc. will post -0.38 EPS for the current fiscal year.

Insider Transactions at Peloton Interactive

In other news, Director Karen Boone sold 17,259 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.63, for a total value of $148,945.17. Following the completion of the sale, the director now directly owns 244,641 shares of the company’s stock, valued at $2,111,251.83. This trade represents a 6.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chris Bruzzo sold 24,977 shares of Peloton Interactive stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $5.80, for a total value of $144,866.60. Following the completion of the sale, the chief executive officer now owns 149,240 shares in the company, valued at approximately $865,592. This trade represents a 14.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 447,798 shares of company stock worth $3,409,541. Company insiders own 1.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PTON shares. BMO Capital Markets increased their price objective on Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a report on Monday, November 4th. JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. Morgan Stanley boosted their price objective on shares of Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Telsey Advisory Group lifted their price target on shares of Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Finally, Bank of America raised shares of Peloton Interactive from an “underperform” rating to a “buy” rating and boosted their price target for the company from $3.75 to $9.00 in a research report on Monday, November 4th. Sixteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus 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.