Peloton Interactive, Inc. (NASDAQ:PTON) Shares Sold by Quadcap Wealth Management LLC

Quadcap Wealth Management LLC cut its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 58.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,214 shares of the company's stock after selling 89,234 shares during the quarter. Quadcap Wealth Management LLC's holdings in Peloton Interactive were worth $559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd acquired a new position in shares of Peloton Interactive during the fourth quarter worth about $28,000. Russell Investments Group Ltd. lifted its stake in Peloton Interactive by 969.6% during the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company's stock worth $35,000 after purchasing an additional 3,636 shares during the last quarter. Comerica Bank lifted its stake in Peloton Interactive by 29.1% during the fourth quarter. Comerica Bank now owns 6,164 shares of the company's stock worth $54,000 after purchasing an additional 1,389 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Peloton Interactive during the fourth quarter worth approximately $69,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Peloton Interactive during the fourth quarter worth approximately $72,000. 77.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Peloton Interactive

In related news, insider Andrew S. Rendich sold 17,401 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $8.18, for a total value of $142,340.18. Following the transaction, the insider now owns 362,573 shares in the company, valued at approximately $2,965,847.14. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Saqib Baig sold 22,662 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total transaction of $220,954.50. Following the sale, the chief accounting officer now directly owns 130,031 shares of the company's stock, valued at $1,267,802.25. The trade was a 14.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,127,657 shares of company stock worth $8,363,508 in the last three months. Company insiders own 1.34% of the company's stock.

Peloton Interactive Stock Performance

NASDAQ PTON traded down $0.05 during trading hours on Monday, reaching $6.29. The company's stock had a trading volume of 11,612,503 shares, compared to its average volume of 15,519,825. The stock has a market cap of $2.45 billion, a PE ratio of -8.17 and a beta of 2.25. Peloton Interactive, Inc. has a fifty-two week low of $2.83 and a fifty-two week high of $10.90. The company's 50-day moving average is $6.24 and its two-hundred day moving average is $7.80.

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 analysts' consensus estimates of ($0.06) by ($0.06). The company had revenue of $624.00 million for the quarter, compared to analysts' expectations of $620.39 million. During the same quarter last year, the firm posted ($0.45) earnings per share. The company's revenue was down 13.1% compared to the same quarter last year. Equities analysts expect that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PTON. Citigroup reduced their price objective on Peloton Interactive from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft upgraded Peloton Interactive from a "hold" rating to a "buy" rating and set a $6.60 price objective for the company in a research note on Monday, April 14th. Morgan Stanley reduced their price objective on Peloton Interactive from $5.75 to $4.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Canaccord Genuity Group upgraded Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 price target for the company in a research note on Friday, March 14th. Finally, Telsey Advisory Group cut their price target on Peloton Interactive from $9.00 to $8.00 and set a "market perform" rating for the company in a research note on Friday, May 9th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target 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.