Andrew S. Rendich Sells 17,401 Shares of Peloton Interactive, Inc. (NASDAQ:PTON) Stock

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report) insider Andrew S. Rendich sold 17,401 shares of Peloton Interactive stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 of the company's stock, valued at $2,965,847.14. This represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Peloton Interactive Trading Down 6.6 %

PTON traded down $0.50 during trading on Monday, hitting $7.03. 12,994,011 shares of the company's stock were exchanged, compared to its average volume of 15,540,905. The stock has a 50 day moving average price of $8.67 and a 200 day moving average price of $7.28. Peloton Interactive, Inc. has a 1 year low of $2.70 and a 1 year high of $10.90. The firm has a market cap of $2.74 billion, a P/E ratio of -9.13 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.04). Analysts forecast that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Peloton Interactive

Hedge funds have recently modified their holdings of the stock. R Squared Ltd purchased a new position in Peloton Interactive in the 4th quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Peloton Interactive by 31.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company's stock valued at $31,000 after purchasing an additional 1,597 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Peloton Interactive by 969.6% during the 4th quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company's stock valued at $35,000 after purchasing an additional 3,636 shares in the last quarter. Verdence Capital Advisors LLC purchased a new stake in Peloton Interactive during the 3rd quarter worth approximately $52,000. Finally, Comerica Bank raised its position in shares of Peloton Interactive by 29.1% in the 4th quarter. Comerica Bank now owns 6,164 shares of the company's stock valued at $54,000 after purchasing an additional 1,389 shares in the last quarter. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PTON. Macquarie restated a "neutral" rating and issued a $9.00 price objective on shares of Peloton Interactive in a research report on Monday, February 10th. BMO Capital Markets upped their target price on shares of Peloton Interactive from $6.50 to $8.50 and gave the company a "market perform" rating in a report on Monday, November 4th. UBS Group upgraded shares of Peloton Interactive from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $2.50 to $10.00 in a report on Friday, December 6th. Bank of America raised shares of Peloton Interactive from an "underperform" rating to a "buy" rating and upped their price objective for the company from $3.75 to $9.00 in a research note on Monday, November 4th. Finally, Argus raised shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $15.00 target price for the company in a research note on Tuesday, February 11th. Sixteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Peloton Interactive currently has an average rating of "Hold" and a consensus target price of $8.38.

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.