DnB Asset Management AS Decreases Stock Position in Peloton Interactive, Inc. (NASDAQ:PTON)

DnB Asset Management AS lowered its position in Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 71.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,487,899 shares of the company's stock after selling 6,339,341 shares during the period. DnB Asset Management AS owned 0.65% of Peloton Interactive worth $21,645,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PTON. R Squared Ltd purchased a new position in Peloton Interactive during the fourth quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. lifted its position in Peloton Interactive by 31.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company's stock valued at $31,000 after acquiring an additional 1,597 shares during the period. Sanctuary Advisors LLC bought a new stake in Peloton Interactive during the third quarter worth about $58,000. SBI Securities Co. Ltd. purchased a new stake in Peloton Interactive in the fourth quarter worth about $69,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Peloton Interactive by 33.9% during the fourth quarter. Jones Financial Companies Lllp now owns 9,496 shares of the company's stock valued at $83,000 after purchasing an additional 2,403 shares in the last quarter. Hedge funds and other institutional investors own 77.01% of the company's stock.

Peloton Interactive Stock Performance

Shares of NASDAQ PTON traded up $0.28 during midday trading on Wednesday, hitting $6.50. 4,956,156 shares of the company's stock traded hands, compared to its average volume of 15,965,585. Peloton Interactive, Inc. has a 1 year low of $2.70 and a 1 year high of $10.90. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -8.44 and a beta of 1.95. The firm has a fifty day moving average of $7.64 and a 200 day moving average of $7.63.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). On average, equities analysts anticipate that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Insider Activity

In related news, insider Andrew S. Rendich sold 121,883 shares of Peloton Interactive stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total transaction of $1,162,763.82. Following the transaction, the insider now owns 404,188 shares in the company, valued at approximately $3,855,953.52. The trade was a 23.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Cunningham Cotter sold 187,238 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $6.45, for a total value of $1,207,685.10. Following the sale, the insider now directly owns 100,269 shares in the company, valued at approximately $646,735.05. This represents a 65.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 691,597 shares of company stock valued at $5,671,783 in the last ninety days. Corporate insiders own 1.34% of the company's stock.

Wall Street Analyst Weigh In

PTON has been the topic of several recent research reports. The Goldman Sachs Group upped their price target on Peloton Interactive from $8.00 to $10.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Macquarie reissued a "neutral" rating and issued a $9.00 target price on shares of Peloton Interactive in a research note on Monday, February 10th. Canaccord Genuity Group raised Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 price target for the company in a research report on Friday, March 14th. Needham & Company LLC reissued a "hold" rating on shares of Peloton Interactive in a research report on Thursday, February 6th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Peloton Interactive in a report on Friday, February 7th. Fifteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $8.69.

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.