Peloton Interactive, Inc. (NASDAQ:PTON) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 48.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 312,761 shares of the company's stock after selling 293,824 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.08% of Peloton Interactive worth $1,945,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PTON. Jaffetilchin Investment Partners LLC boosted its position in Peloton Interactive by 22.8% during the first quarter. Jaffetilchin Investment Partners LLC now owns 53,829 shares of the company's stock worth $340,000 after acquiring an additional 9,991 shares during the last quarter. Diversified Trust Co acquired a new position in Peloton Interactive during the first quarter worth about $391,000. FNY Investment Advisers LLC acquired a new position in Peloton Interactive during the first quarter worth about $37,000. Wealth Enhancement Advisory Services LLC boosted its position in Peloton Interactive by 385.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 60,476 shares of the company's stock worth $382,000 after acquiring an additional 48,023 shares during the last quarter. Finally, Matauro LLC boosted its position in Peloton Interactive by 213.6% during the first quarter. Matauro LLC now owns 32,496 shares of the company's stock worth $205,000 after acquiring an additional 22,135 shares during the last quarter. Institutional investors and hedge funds own 77.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PTON shares. JPMorgan Chase & Co. lowered their price target on shares of Peloton Interactive from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Telsey Advisory Group reduced their target price on shares of Peloton Interactive from $9.00 to $8.00 and set a "market perform" rating on the stock in a research note on Friday, May 9th. The Goldman Sachs Group reduced 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 note on Friday, May 9th. Canaccord Genuity Group raised shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 target price on the stock in a research note on Friday, March 14th. Finally, Bank of America reduced their target price on shares of Peloton Interactive from $11.50 to $9.50 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $8.30.

Peloton Interactive Price Performance

Shares of Peloton Interactive stock traded down $0.34 during trading hours on Friday, hitting $6.38. The company had a trading volume of 7,350,713 shares, compared to its average volume of 15,416,621. The company's 50-day moving average is $6.80 and its two-hundred day moving average is $7.23. Peloton Interactive, Inc. has a twelve month low of $2.83 and a twelve month high of $10.90. The company has a market cap of $2.49 billion, a P/E ratio of -14.50 and a beta of 2.11.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The firm 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 posted ($0.45) EPS. The company's quarterly revenue was down 13.1% on a year-over-year basis. Sell-side analysts expect that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, insider Dion C. Sanders sold 122,036 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.25, for a total transaction of $762,725.00. Following the completion of the transaction, the insider owned 114,318 shares in the company, valued at approximately $714,487.50. This represents a 51.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Cunningham Cotter sold 145,622 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.25, for a total transaction of $910,137.50. Following the transaction, the insider owned 235,439 shares of the company's stock, valued at approximately $1,471,493.75. The trade was a 38.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 555,952 shares of company stock worth $3,556,914 in the last 90 days. Company insiders own 1.34% of the company's stock.

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.