Peloton Interactive, Inc. (NASDAQ:PTON) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ drastically reduced its stake in Peloton Interactive by 83.3%, selling 54,446 shares and holding only 10,896 shares valued at $69,000 after the sale.
• Peloton's recent earnings report showed a loss of $0.12 per share, missing analyst estimates, while revenue declined by 13.1% year-over-year.
• Multiple investment firms have lowered their price targets for Peloton, with a consensus price target now at $8.36 and analysts mostly rating the stock as a "Hold."

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 83.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,896 shares of the company's stock after selling 54,446 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Peloton Interactive were worth $69,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its holdings in Peloton Interactive by 38.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 16,820,256 shares of the company's stock valued at $146,337,000 after buying an additional 4,635,667 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in Peloton Interactive by 1,438.9% during the 4th quarter. Voloridge Investment Management LLC now owns 3,109,054 shares of the company's stock valued at $27,049,000 after acquiring an additional 2,907,023 shares during the period. Renaissance Technologies LLC boosted its holdings in Peloton Interactive by 59.5% during the 4th quarter. Renaissance Technologies LLC now owns 5,833,700 shares of the company's stock valued at $50,753,000 after acquiring an additional 2,176,400 shares during the period. Vanguard Group Inc. boosted its stake in shares of Peloton Interactive by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 35,059,790 shares of the company's stock valued at $305,020,000 after buying an additional 1,645,640 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in shares of Peloton Interactive in the 4th quarter valued at about $10,131,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Peloton Interactive news, insider Jennifer Cunningham Cotter sold 145,622 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider owned 235,439 shares in the company, valued at $1,471,493.75. This trade represents a 38.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Charles Peter Kirol sold 20,633 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $6.39, for a total value of $131,844.87. Following the sale, the chief operating officer owned 35,877 shares of the company's stock, valued at approximately $229,254.03. This trade represents a 36.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 576,585 shares of company stock worth $3,688,758 over the last quarter. Corporate insiders own 1.34% of the company's stock.

Peloton Interactive Stock Performance

NASDAQ PTON traded up $0.26 during trading hours on Monday, hitting $6.86. 7,352,379 shares of the company's stock were exchanged, compared to its average volume of 14,107,148. The business's 50 day moving average is $6.74 and its 200-day moving average is $6.93. The firm has a market capitalization of $2.68 billion, a P/E ratio of -15.53 and a beta of 2.08. Peloton Interactive, Inc. has a 12-month low of $2.83 and a 12-month high of $10.90.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $620.39 million. During the same quarter in the prior year, the company earned ($0.45) earnings per share. Peloton Interactive's quarterly revenue was down 13.1% on a year-over-year basis. As a group, equities research analysts anticipate that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group decreased their target price on Peloton Interactive from $10.00 to $7.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Bank of America cut their price target on Peloton Interactive from $11.50 to $9.50 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC restated a "hold" rating on shares of Peloton Interactive in a research note on Friday, May 9th. JPMorgan Chase & Co. dropped their price objective on Peloton Interactive from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, UBS Group raised Peloton Interactive from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $7.50 to $11.00 in a report on Wednesday, July 30th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $8.46.

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.