Quinn Opportunity Partners LLC Lowers Stake in Peloton Interactive, Inc. (NASDAQ:PTON)

Quinn Opportunity Partners LLC decreased its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 44.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,355,992 shares of the company's stock after selling 5,930,222 shares during the period. Peloton Interactive accounts for approximately 4.3% of Quinn Opportunity Partners LLC's holdings, making the stock its 2nd biggest holding. Quinn Opportunity Partners LLC owned about 1.93% of Peloton Interactive worth $63,997,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Scotia Capital Inc. bought a new position in Peloton Interactive in the 4th quarter worth approximately $206,000. CenterBook Partners LP acquired a new position in shares of Peloton Interactive during the fourth quarter valued at $4,026,000. Raymond James Financial Inc. bought a new position in Peloton Interactive in the fourth quarter valued at about $1,158,000. Greenland Capital Management LP acquired a new stake in Peloton Interactive in the fourth quarter worth about $524,000. Finally, Capula Management Ltd acquired a new position in Peloton Interactive during the 4th quarter valued at about $305,000. 77.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PTON. Canaccord Genuity Group upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 price objective on the stock in a report on Friday, March 14th. Bank of America decreased their target price on shares of Peloton Interactive from $11.50 to $9.50 and set a "buy" rating for the company in a research note on Tuesday. Citigroup reduced their price target on Peloton Interactive from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Argus upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a report on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft raised Peloton Interactive from a "hold" rating to a "buy" rating and set a $6.60 price target for the company in a report on Monday. Fifteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $8.59.

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Insider Transactions at Peloton Interactive

In related news, CAO Saqib Baig sold 22,662 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total value of $220,954.50. Following the completion of the sale, the chief accounting officer now directly owns 130,031 shares of the company's stock, valued at approximately $1,267,802.25. This represents a 14.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew S. Rendich sold 121,883 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 404,188 shares of the company's stock, valued at approximately $3,855,953.52. This represents a 23.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 674,338 shares of company stock valued at $5,522,838 in the last 90 days. 1.34% of the stock is currently owned by corporate insiders.

Peloton Interactive Stock Down 2.3 %

Peloton Interactive stock traded down $0.13 during mid-day trading on Wednesday, hitting $5.60. 4,741,379 shares of the stock were exchanged, compared to its average volume of 16,047,560. Peloton Interactive, Inc. has a 12 month low of $2.70 and a 12 month high of $10.90. The firm's fifty day simple moving average is $7.04 and its two-hundred day simple moving average is $7.65. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -7.27 and a beta of 2.21.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued 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). As a group, analysts forecast that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

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.