Picton Mahoney Asset Management Sells 912,805 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

Key Points

• Picton Mahoney Asset Management significantly reduced its stake in Peloton Interactive, selling 912,805 shares and owning only 35,827 shares post-sale, which is a 96.2% decrease in their holdings.
• Wall Street analysts show mixed sentiments for Peloton, with UBS and Truist upgrading the stock to a "buy" rating, while others like Bank of America and Morgan Stanley have lowered their price targets.
• Recent insider trading included Dion C. Sanders selling 122,036 shares at an average price of $6.25, reducing their ownership by over 51%, amidst overall insider sales amounting to $3.69 million in the last quarter.

Picton Mahoney Asset Management cut its stake in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 96.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,827 shares of the company's stock after selling 912,805 shares during the period. Picton Mahoney Asset Management's holdings in Peloton Interactive were worth $227,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Peloton Interactive by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 284,060 shares of the company's stock worth $2,471,000 after buying an additional 11,008 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Peloton Interactive during the 4th quarter worth $1,158,000. Wealth Enhancement Advisory Services LLC grew its position in Peloton Interactive by 385.6% during the 1st 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. KLP Kapitalforvaltning AS bought a new stake in Peloton Interactive during the 4th quarter worth $580,000. Finally, Teacher Retirement System of Texas bought a new stake in Peloton Interactive during the 1st quarter worth $431,000. 77.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Peloton Interactive

In related news, insider Nick V. Caldwell sold 63,925 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $6.99, for a total transaction of $446,835.75. Following the completion of the sale, the insider directly owned 578,668 shares of the company's stock, valued at approximately $4,044,889.32. This trade represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Cunningham Cotter sold 145,622 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.25, for a total value of $910,137.50. Following the sale, the insider directly owned 235,439 shares of the company's stock, valued at $1,471,493.75. The trade was a 38.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 576,585 shares of company stock valued at $3,688,758 in the last ninety days. Insiders own 1.34% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JMP Securities restated a "market perform" rating on shares of Peloton Interactive in a research report on Monday, April 14th. UBS Group upgraded Peloton Interactive from a "neutral" rating to a "buy" rating and upped their price target for the company from $7.50 to $11.00 in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on 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 reiterated a "market perform" rating and issued a $8.00 price target on shares of Peloton Interactive in a research report on Friday. Finally, Macquarie upgraded Peloton Interactive from a "neutral" rating to an "outperform" rating and upped their price target for the company from $9.00 to $10.00 in a research report on Tuesday, May 13th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Peloton Interactive presently has a consensus rating of "Hold" and a consensus target price of $8.36.

Peloton Interactive Stock Performance

Shares of Peloton Interactive stock traded down $0.54 on Friday, hitting $6.60. The company had a trading volume of 17,351,405 shares, compared to its average volume of 11,287,506. Peloton Interactive, Inc. has a 1 year low of $2.83 and a 1 year high of $10.90. The stock has a 50 day moving average of $6.74 and a 200-day moving average of $6.95.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The firm had revenue of $624.00 million during the quarter, compared to analysts' expectations of $620.39 million. The firm's revenue was down 13.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.45) earnings per share. Equities analysts anticipate that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

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.