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

Allspring Global Investments Holdings LLC cut its holdings in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 48.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 312,761 shares of the company's stock after selling 293,824 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of Peloton Interactive worth $1,945,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Jaffetilchin Investment Partners LLC lifted its stake 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 purchasing an additional 9,991 shares in the last quarter. Diversified Trust Co acquired a new position in Peloton Interactive during the first quarter worth $391,000. FNY Investment Advisers LLC acquired a new position in Peloton Interactive during the first quarter worth $37,000. Wealth Enhancement Advisory Services LLC lifted its stake 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 purchasing an additional 48,023 shares in the last quarter. Finally, Matauro LLC lifted its stake 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 purchasing an additional 22,135 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Peloton Interactive Stock Performance

Shares of PTON stock opened at $6.43 on Tuesday. The stock's 50-day moving average is $6.82 and its two-hundred day moving average is $7.25. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -14.61 and a beta of 2.11. Peloton Interactive, Inc. has a 1 year low of $2.83 and a 1 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) earnings per share 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 business earned ($0.45) EPS. The business's revenue for the quarter was down 13.1% on a year-over-year basis. As a group, research analysts predict that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Insider Activity

In related news, CFO Elizabeth F. Coddington sold 38,708 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $6.96, for a total value of $269,407.68. Following the completion of the sale, the chief financial officer owned 294,342 shares in the company, valued at $2,048,620.32. This trade represents a 11.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nick V. Caldwell sold 63,925 shares of Peloton Interactive stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $6.99, for a total transaction of $446,835.75. Following the sale, the insider owned 578,668 shares of the company's stock, valued at approximately $4,044,889.32. The trade was a 9.95% decrease in their ownership of the stock. 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 three months. 1.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. JPMorgan Chase & Co. decreased their price target on Peloton Interactive from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Canaccord Genuity Group raised Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 price objective on the stock in a research report on Friday, March 14th. Deutsche Bank Aktiengesellschaft raised Peloton Interactive from a "hold" rating to a "buy" rating and set a $6.60 price objective on the stock in a research report on Monday, April 14th. The Goldman Sachs Group cut their price objective on Peloton Interactive from $10.00 to $7.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Peloton Interactive in a research report on Friday, May 9th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $8.30.

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.

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