Invesco Ltd. Sells 667,294 Shares of Peloton Interactive, Inc. $PTON

Key Points

• Invesco Ltd. has reduced its stake in Peloton Interactive, Inc. by 49.2%, owning 690,172 shares valued at approximately $4.36 million after selling 667,294 shares in the first quarter.
• Insider Dion C. Sanders sold 113,439 shares at an average price of $7.61, while CFO Elizabeth F. Coddington sold 185,820 shares at $8.42, indicating significant insider trading activity.
• Goldman Sachs and UBS Group upgraded Peloton's stock to a "buy" rating, with new price targets set at $11.50 and $11.00, respectively, as interest in the company remains strong among analysts.

Invesco Ltd. reduced its position in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 49.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 690,172 shares of the company's stock after selling 667,294 shares during the period. Invesco Ltd. owned about 0.18% of Peloton Interactive worth $4,362,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Pandora Wealth Inc. purchased a new stake in shares of Peloton Interactive during the 1st quarter worth $105,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Peloton Interactive by 37.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,831,180 shares of the company's stock worth $36,853,000 after purchasing an additional 1,603,326 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Peloton Interactive by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 37,246,652 shares of the company's stock worth $235,399,000 after purchasing an additional 2,186,862 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of Peloton Interactive by 22.0% during the 1st quarter. Bank of Nova Scotia now owns 18,620 shares of the company's stock worth $118,000 after purchasing an additional 3,354 shares during the last quarter. Finally, R Squared Ltd lifted its position in shares of Peloton Interactive by 385.8% during the 1st quarter. R Squared Ltd now owns 15,740 shares of the company's stock worth $99,000 after purchasing an additional 12,500 shares during the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on PTON shares. Macquarie lifted their price target on shares of Peloton Interactive from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Telsey Advisory Group reiterated a "market perform" rating and issued a $8.00 price target on shares of Peloton Interactive in a report on Thursday, August 7th. Morgan Stanley upped their price target on shares of Peloton Interactive from $4.00 to $5.75 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Truist Financial set a $11.00 price target on shares of Peloton Interactive in a research report on Thursday, August 7th. Finally, UBS Group raised shares of Peloton Interactive from a "neutral" rating to a "buy" rating and upped their price target for the stock from $7.50 to $11.00 in a research report on Wednesday, July 30th. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $9.29.

Peloton Interactive Stock Performance

Shares of PTON stock traded up $0.02 during trading on Friday, hitting $7.60. 17,916,414 shares of the company were exchanged, compared to its average volume of 14,353,469. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of -24.52 and a beta of 2.08. The business's 50-day simple moving average is $7.05 and its 200 day simple moving average is $6.88. Peloton Interactive, Inc. has a twelve month low of $4.19 and a twelve month high of $10.90.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12. The business had revenue of $606.90 million during the quarter, compared to analyst estimates of $580.29 million. Peloton Interactive's revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) earnings per share. Peloton Interactive has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 185,820 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $8.42, for a total value of $1,564,604.40. Following the sale, the chief financial officer owned 346,535 shares of the company's stock, valued at $2,917,824.70. The trade was a 34.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Dion C. Sanders sold 122,917 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $8.34, for a total transaction of $1,025,127.78. Following the completion of the transaction, the insider owned 113,439 shares in the company, valued at approximately $946,081.26. This trade represents a 52.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 988,357 shares of company stock valued at $7,877,396 in the last three months. 1.34% of the stock is owned by insiders.

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.