Peloton Interactive, Inc. (NASDAQ:PTON) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 83.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,236,458 shares of the company's stock after selling 6,246,830 shares during the quarter. Bank of New York Mellon Corp owned about 0.33% of Peloton Interactive worth $4,179,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PTON. Nisa Investment Advisors LLC raised its stake in Peloton Interactive by 1,836.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company's stock worth $32,000 after acquiring an additional 9,000 shares in the last quarter. Johnson & White Wealth Management LLC acquired a new position in Peloton Interactive in the first quarter valued at $43,000. Sheaff Brock Investment Advisors LLC acquired a new position in Peloton Interactive in the first quarter valued at $44,000. Abundance Wealth Counselors increased its stake in Peloton Interactive by 24.7% in the second quarter. Abundance Wealth Counselors now owns 13,380 shares of the company's stock valued at $45,000 after purchasing an additional 2,654 shares during the period. Finally, Evergreen Wealth Solutions LLC acquired a new position in Peloton Interactive in the first quarter valued at $48,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PTON has been the topic of a number of recent research reports. TD Cowen lifted their price objective on shares of Peloton Interactive from $3.00 to $4.00 and gave the company a "hold" rating in a research note on Friday, August 23rd. Macquarie reiterated a "neutral" rating and set a $2.53 price target on shares of Peloton Interactive in a research note on Thursday, August 22nd. Telsey Advisory Group boosted their price target on shares of Peloton Interactive from $4.00 to $5.00 and gave the stock a "market perform" rating in a research note on Friday, August 23rd. Roth Mkm boosted their price target on shares of Peloton Interactive from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Finally, Robert W. Baird boosted their price target on shares of Peloton Interactive from $4.00 to $4.75 and gave the stock a "neutral" rating in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Peloton Interactive has an average rating of "Hold" and a consensus price target of $4.57.

Peloton Interactive Price Performance

NASDAQ:PTON traded up $0.46 during trading hours on Friday, reaching $4.73. 12,489,921 shares of the company were exchanged, compared to its average volume of 16,050,635. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -2.24 and a beta of 2.04. Peloton Interactive, Inc. has a 52-week low of $2.70 and a 52-week high of $7.24. The stock has a 50 day simple moving average of $3.80 and a 200 day simple moving average of $3.79.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its quarterly earnings results on Thursday, August 22nd. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.10. The company had revenue of $644.00 million for the quarter, compared to analysts' expectations of $633.00 million. During the same period in the prior year, the business earned ($0.68) EPS. The business's revenue for the quarter was up .3% on a year-over-year basis. On average, analysts predict that Peloton Interactive, Inc. will post -0.65 EPS for the current fiscal year.

Insider Activity

In other news, CEO Karen Boone sold 14,841 shares of the firm's stock in a transaction on Monday, July 1st. The shares were sold at an average price of $3.31, for a total value of $49,123.71. Following the transaction, the chief executive officer now owns 116,171 shares of the company's stock, valued at approximately $384,526.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Elizabeth F. Coddington sold 56,084 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total transaction of $252,378.00. Following the completion of the sale, the chief financial officer now directly owns 186,466 shares of the company's stock, valued at approximately $839,097. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Karen Boone sold 14,841 shares of the firm's stock in a transaction on Monday, July 1st. The stock was sold at an average price of $3.31, for a total transaction of $49,123.71. Following the transaction, the chief executive officer now directly owns 116,171 shares of the company's stock, valued at $384,526.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,038 shares of company stock valued at $597,188. Company insiders own 3.28% of the company's stock.

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.