Allspring Global Investments Holdings LLC Cuts Holdings in Peloton Interactive, Inc. $PTON

Key Points

• Allspring Global Investments cut its Peloton stake by 75.9% in Q4 to 132,017 shares worth $808,000, even as other institutions (e.g., RBC and Goldman Sachs) increased positions and institutional ownership remains about 77%.
• Analysts are mixed: the consensus rating is “Hold” with an average price target of $8.42, while several firms trimmed targets (Citigroup to $5, Truist to $9, Telsey to $6) and a few maintain/upgrade to Buy.
• Operationally, Peloton reported an EPS miss for the quarter (‑$0.09 vs. ‑$0.07 expected) with revenue down 2.5%; the stock trades around $4.62 (market cap ~$1.97B), and insiders have sold ~972,162 shares (~$4.26M) in the past 90 days.

Allspring Global Investments Holdings LLC decreased its stake in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 75.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,017 shares of the company's stock after selling 416,770 shares during the period. Allspring Global Investments Holdings LLC's holdings in Peloton Interactive were worth $808,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada boosted its position in Peloton Interactive by 342.6% during the 1st quarter. Royal Bank of Canada now owns 616,367 shares of the company's stock valued at $3,896,000 after buying an additional 477,106 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Peloton Interactive by 2.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 290,981 shares of the company's stock worth $1,839,000 after acquiring an additional 6,921 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Peloton Interactive by 3,132.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,549 shares of the company's stock worth $98,000 after acquiring an additional 15,068 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Peloton Interactive by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company's stock valued at $44,598,000 after purchasing an additional 1,503,680 shares in the last quarter. Finally, Caxton Associates LLP bought a new stake in Peloton Interactive during the 1st quarter valued at about $282,000. Hedge funds and other institutional investors own 77.01% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PTON. Citigroup dropped their price target on shares of Peloton Interactive from $8.25 to $5.00 and set a "neutral" rating on the stock in a report on Thursday, February 12th. Truist Financial lowered their price target on shares of Peloton Interactive from $12.00 to $9.00 and set a "buy" rating on the stock in a report on Friday, February 6th. Telsey Advisory Group reduced their price objective on shares of Peloton Interactive from $8.00 to $6.00 and set a "market perform" rating on the stock in a research report on Friday, February 6th. Wall Street Zen upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating in a research report on Saturday, March 28th. Finally, UBS Group restated a "buy" rating on shares of Peloton Interactive in a research report on Tuesday, February 3rd. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $8.42.

Peloton Interactive Stock Performance

Shares of Peloton Interactive stock opened at $4.62 on Friday. The business has a 50-day simple moving average of $4.28 and a 200-day simple moving average of $6.01. The company has a market cap of $1.97 billion, a PE ratio of -35.54, a P/E/G ratio of 0.78 and a beta of 2.37. Peloton Interactive, Inc. has a one year low of $3.65 and a one year high of $9.20.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The business's revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.24) earnings per share. On average, sell-side analysts predict that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 21,819 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $3.87, for a total value of $84,439.53. Following the completion of the sale, the chief financial officer owned 346,535 shares in the company, valued at approximately $1,341,090.45. The trade was a 5.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Saqib Baig sold 30,918 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $4.14, for a total value of $128,000.52. Following the completion of the sale, the chief accounting officer owned 219,781 shares of the company's stock, valued at approximately $909,893.34. This represents a 12.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 972,162 shares of company stock valued at $4,258,008 in the last 90 days. Company insiders own 1.30% of the company's stock.

Peloton Interactive Profile

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company's core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.

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