Peloton Interactive, Inc. (NASDAQ:PTON) Shares Sold by Creative Planning

Posted by Defense World Staff on Oct 27th, 2023

Creative Planning reduced its position in shares of Peloton Interactive, Inc. (NASDAQ:PTON – Free Report) by 17.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,746 shares of the company’s stock after selling 3,853 shares during the period. Creative Planning’s holdings in Peloton Interactive were worth $144,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Slate Path Capital LP raised its position in shares of Peloton Interactive by 23.0% during the 1st quarter. Slate Path Capital LP now owns 1,980,000 shares of the company’s stock valued at $22,453,000 after buying an additional 370,000 shares during the period. Commerce Bank lifted its stake in shares of Peloton Interactive by 3.2% in the 1st quarter. Commerce Bank now owns 47,163 shares of the company’s stock valued at $535,000 after purchasing an additional 1,452 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Peloton Interactive by 37.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 252,172 shares of the company’s stock valued at $2,860,000 after purchasing an additional 68,611 shares during the last quarter. DnB Asset Management AS increased its position in shares of Peloton Interactive by 220.6% during the 2nd quarter. DnB Asset Management AS now owns 1,267,953 shares of the company’s stock worth $9,751,000 after purchasing an additional 872,502 shares during the last quarter. Finally, Manchester Capital Management LLC raised its holdings in Peloton Interactive by 38.8% in the 1st quarter. Manchester Capital Management LLC now owns 49,842 shares of the company’s stock valued at $565,000 after buying an additional 13,939 shares during the period. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Peloton Interactive Trading Down 4.1 %

PTON stock opened at $4.45 on Friday. The stock has a market cap of $1.59 billion, a P/E ratio of -1.22 and a beta of 2.03. Peloton Interactive, Inc. has a twelve month low of $4.30 and a twelve month high of $17.83. The company’s 50 day moving average is $5.34 and its two-hundred day moving average is $7.32.

Peloton Interactive (NASDAQ:PTON – Get Free Report) last announced its quarterly earnings results on Wednesday, August 23rd. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.28). Peloton Interactive had a negative return on equity of 686.29% and a negative net margin of 45.05%. The company had revenue of $642.10 million for the quarter, compared to analyst estimates of $641.02 million. During the same quarter in the prior year, the business earned ($1.32) earnings per share. Peloton Interactive’s revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts predict that Peloton Interactive, Inc. will post -1.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group dropped their price target on shares of Peloton Interactive from $18.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, August 24th. Sanford C. Bernstein cut their target price on Peloton Interactive from $20.00 to $13.00 and set an “outperform” rating on the stock in a research report on Thursday, August 24th. UBS Group lowered their price target on Peloton Interactive from $8.00 to $4.00 and set a “sell” rating for the company in a research report on Monday, September 25th. Bank of America downgraded Peloton Interactive from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $6.50 to $4.15 in a report on Thursday, October 19th. Finally, Wedbush restated an “outperform” rating on shares of Peloton Interactive in a report on Monday, September 25th. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.51.

Read Our Latest Research Report on Peloton Interactive

Insider Activity at Peloton Interactive

In other news, insider Thomas Cortese sold 14,135 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $6.98, for a total transaction of $98,662.30. Following the transaction, the insider now directly owns 14,251 shares in the company, valued at $99,471.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 10,215 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $5.12, for a total transaction of $52,300.80. Following the completion of the sale, the chief financial officer now directly owns 32,441 shares of the company’s stock, valued at approximately $166,097.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Cortese sold 14,135 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $6.98, for a total value of $98,662.30. Following the completion of the transaction, the insider now directly owns 14,251 shares in the company, valued at approximately $99,471.98. The disclosure for this sale can be found here. Insiders own 2.54% of the company’s stock.

About Peloton Interactive

(Free Report)

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.