Peloton Interactive, Inc. (NASDAQ:PTON) Position Lessened by Hennessy Advisors Inc.

Hennessy Advisors Inc. lessened its holdings in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 8.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,927,200 shares of the company's stock after selling 872,800 shares during the period. Peloton Interactive makes up 1.9% of Hennessy Advisors Inc.'s portfolio, making the stock its 5th biggest position. Hennessy Advisors Inc. owned about 2.29% of Peloton Interactive worth $56,420,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Choreo LLC increased its stake in shares of Peloton Interactive by 12.3% in the fourth quarter. Choreo LLC now owns 16,832 shares of the company's stock valued at $150,000 after buying an additional 1,838 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Peloton Interactive during the fourth quarter worth approximately $5,277,000. Vontobel Holding Ltd. bought a new stake in shares of Peloton Interactive during the fourth quarter valued at approximately $178,000. Rhumbline Advisers increased its holdings in shares of Peloton Interactive by 7.8% in the fourth quarter. Rhumbline Advisers now owns 479,134 shares of the company's stock valued at $4,168,000 after purchasing an additional 34,514 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in Peloton Interactive in the 4th quarter worth approximately $2,300,000. 77.01% of the stock is owned by institutional investors and hedge funds.

Peloton Interactive Stock Down 11.7%

PTON traded down $0.81 during trading on Tuesday, hitting $6.12. The company had a trading volume of 27,369,653 shares, compared to its average volume of 15,425,617. The company has a market capitalization of $2.39 billion, a PE ratio of -7.95 and a beta of 2.15. The firm's 50-day moving average price is $6.61 and its 200 day moving average price is $7.59. Peloton Interactive, Inc. has a one year low of $2.83 and a one year high of $10.90.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $624.00 million for the quarter, compared to analyst estimates of $620.39 million. During the same period last year, the firm earned ($0.45) EPS. The company's revenue was down 13.1% compared to the same quarter last year. Sell-side analysts forecast that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jennifer Cunningham Cotter sold 145,622 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.25, for a total value of $910,137.50. Following the completion of the transaction, the insider now directly owns 235,439 shares of the company's stock, valued at $1,471,493.75. This trade represents a 38.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elizabeth F. Coddington sold 185,661 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.29, for a total value of $1,167,807.69. Following the completion of the transaction, the chief financial officer now owns 311,231 shares of the company's stock, valued at approximately $1,957,642.99. This represents a 37.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 453,319 shares of company stock valued at $2,840,670. 1.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PTON. Macquarie raised Peloton Interactive from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $9.00 to $10.00 in a research note on Tuesday, May 13th. Canaccord Genuity Group raised Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 price objective for the company in a report on Friday, March 14th. The Goldman Sachs Group cut their target price on shares of Peloton Interactive from $10.00 to $7.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft raised shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $6.60 price target for the company in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Peloton Interactive from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $8.30.

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.