Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Sells 69,858 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lowered its stake in Peloton Interactive, Inc. (NASDAQ:PTON – Get Rating) by 72.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 26,600 shares of the company’s stock after selling 69,858 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Peloton Interactive were worth $184,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC bought a new position in shares of Peloton Interactive in the second quarter worth about $156,000. Citizens Financial Group Inc RI bought a new position in shares of Peloton Interactive in the second quarter worth about $96,000. Avantax Advisory Services Inc. raised its stake in shares of Peloton Interactive by 15.7% in the second quarter. Avantax Advisory Services Inc. now owns 15,221 shares of the company’s stock worth $140,000 after buying an additional 2,065 shares during the period. Intrinsic Value Partners LLC raised its stake in shares of Peloton Interactive by 60.9% in the second quarter. Intrinsic Value Partners LLC now owns 73,315 shares of the company’s stock worth $673,000 after buying an additional 27,750 shares during the period. Finally, Activest Wealth Management raised its stake in shares of Peloton Interactive by 1,967.0% in the third quarter. Activest Wealth Management now owns 15,854 shares of the company’s stock worth $110,000 after buying an additional 15,087 shares during the period. Institutional investors own 74.43% of the company’s stock.

Peloton Interactive Price Performance

Shares of PTON stock opened at $11.06 on Monday. Peloton Interactive, Inc. has a 52-week low of $6.66 and a 52-week high of $40.35. The company has a debt-to-equity ratio of 6.48, a quick ratio of 1.40 and a current ratio of 2.47. The firm has a market capitalization of $3.76 billion, a P/E ratio of -1.30 and a beta of 1.77. The stock has a 50 day moving average price of $10.43 and a 200 day moving average price of $9.89.

Peloton Interactive (NASDAQ:PTON – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.05). The business had revenue of $616.50 million for the quarter, compared to the consensus estimate of $638.73 million. Peloton Interactive had a negative return on equity of 116.53% and a negative net margin of 83.97%. As a group, sell-side analysts predict that Peloton Interactive, Inc. will post -2.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Truist Financial cut their target price on Peloton Interactive from $13.00 to $10.00 in a research report on Friday, November 4th. BMO Capital Markets cut their target price on Peloton Interactive from $8.50 to $8.00 and set an “underperform” rating for the company in a research report on Friday, November 4th. Cowen cut Peloton Interactive from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $14.00 to $12.00 in a research report on Monday, November 21st. Credit Suisse Group cut their target price on Peloton Interactive from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, November 4th. Finally, Morgan Stanley cut their price target on Peloton Interactive from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, October 25th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.85.

About Peloton Interactive

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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, and Peloton Tread+ names. It also provides connected fitness subscriptions for various household users, and access to various live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.