Insider Selling: Peloton Interactive (NASDAQ:PTON) Insider Sells 128,429 Shares of Stock

Key Points

• Jennifer Cunningham Cotter, an insider at Peloton Interactive, sold 128,429 shares of stock for over $1 million, reducing her ownership by 37.89% to approximately 210,504 shares.
• Peloton's stock price decreased by 3.1% to $7.94 following the sale, while the company reported a quarterly earnings per share of $0.05, surpassing expectations.
• Institutional investors are actively modifying their stakes in Peloton, with 77.01% of the company now owned by institutional holders.

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report) insider Jennifer Cunningham Cotter sold 128,429 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $7.79, for a total value of $1,000,461.91. Following the completion of the sale, the insider owned 210,504 shares in the company, valued at $1,639,826.16. The trade was a 37.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Jennifer Cunningham Cotter also recently made the following trade(s):

• On Wednesday, August 20th, Jennifer Cunningham Cotter sold 134,476 shares of Peloton Interactive stock. The stock was sold at an average price of $7.61, for a total value of $1,023,362.36.
• On Monday, August 18th, Jennifer Cunningham Cotter sold 146,315 shares of Peloton Interactive stock. The stock was sold at an average price of $8.37, for a total value of $1,224,656.55.

Peloton Interactive Stock Performance

Shares of Peloton Interactive stock traded down $0.20 during midday trading on Thursday, hitting $7.93. The company had a trading volume of 10,331,050 shares, compared to its average volume of 13,874,808. The stock has a market capitalization of $3.23 billion, a P/E ratio of -25.58 and a beta of 2.07. The company has a 50 day moving average of $7.38 and a 200 day moving average of $6.80. Peloton Interactive, Inc. has a 52-week low of $4.25 and a 52-week high of $10.90.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. The business had revenue of $606.90 million for the quarter, compared to analysts' expectations of $580.29 million. During the same quarter in the prior year, the business posted ($0.08) earnings per share. The business's revenue for the quarter was down 5.8% on a year-over-year basis. Peloton Interactive has set its FY 2025 guidance at EPS. Equities research analysts forecast that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Morgan Stanley increased their target price on Peloton Interactive from $4.00 to $5.75 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Macquarie increased their target price on Peloton Interactive from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Thursday, August 14th. Telsey Advisory Group reiterated a "market perform" rating and set a $8.00 target price on shares of Peloton Interactive in a research note on Thursday, August 7th. Needham & Company LLC reiterated a "hold" rating on shares of Peloton Interactive in a research note on Thursday, August 7th. Finally, The Goldman Sachs Group upgraded Peloton Interactive from a "neutral" rating to a "buy" rating and increased their target price for the company from $7.00 to $11.50 in a research note on Friday, August 8th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Peloton Interactive presently has an average rating of "Hold" and an average target price of $9.29.

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors and hedge funds have recently modified their holdings of PTON. Comerica Bank boosted its stake in shares of Peloton Interactive by 29.1% in the 4th quarter. Comerica Bank now owns 6,164 shares of the company's stock worth $54,000 after buying an additional 1,389 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Peloton Interactive by 9.1% in the 4th quarter. Cetera Investment Advisers now owns 17,144 shares of the company's stock worth $149,000 after buying an additional 1,432 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Peloton Interactive in the 4th quarter worth $120,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Peloton Interactive by 4.0% in 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 during the last quarter. Finally, Quantinno Capital Management LP purchased a new position in shares of Peloton Interactive in the 4th quarter worth $113,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

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.