Peloton Interactive, Inc. (NASDAQ:PTON) Insider Thomas Cortese Sells 13,650 Shares

Peloton Interactive, Inc. (NASDAQ:PTON – Get Rating) insider Thomas Cortese sold 13,650 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $7.27, for a total transaction of $99,235.50. Following the completion of the sale, the insider now directly owns 7,212 shares in the company, valued at approximately $52,431.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Peloton Interactive Price Performance

NASDAQ PTON opened at $7.33 on Tuesday. The company has a 50 day simple moving average of $9.33 and a 200-day simple moving average of $10.78. The company has a debt-to-equity ratio of 54.95, a current ratio of 2.24 and a quick ratio of 1.47. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of -1.10 and a beta of 1.91. Peloton Interactive, Inc. has a 52-week low of $6.62 and a 52-week high of $17.83.

Peloton Interactive (NASDAQ:PTON – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.26). The company had revenue of $748.90 million during the quarter, compared to analysts’ expectations of $708.78 million. Peloton Interactive had a negative return on equity of 686.29% and a negative net margin of 79.82%. Peloton Interactive’s revenue for the quarter was down 22.3% compared to the same quarter last year. During the same period last year, the company earned ($0.98) earnings per share. Equities research analysts predict that Peloton Interactive, Inc. will post -3.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Peloton Interactive from $13.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Bank of America increased their target price on shares of Peloton Interactive from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. Sanford C. Bernstein increased their target price on shares of Peloton Interactive from $13.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Credit Suisse Group increased their target price on shares of Peloton Interactive from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Finally, Evercore ISI increased their target price on shares of Peloton Interactive from $11.00 to $18.00 and gave the company an “in-line” rating in a research report on Thursday, February 2nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Peloton Interactive presently has an average rating of “Hold” and an average price target of $14.67.

Institutional Trading of Peloton Interactive

A number of hedge funds have recently made changes to their positions in the stock. Covestor Ltd raised its position in Peloton Interactive by 1,054.2% during the first quarter. Covestor Ltd now owns 1,385 shares of the company’s stock valued at $37,000 after acquiring an additional 1,265 shares in the last quarter. Belpointe Asset Management LLC bought a new position in Peloton Interactive during the fourth quarter valued at approximately $38,000. ICA Group Wealth Management LLC bought a new position in Peloton Interactive during the fourth quarter valued at approximately $39,000. Eisler Capital UK Ltd. bought a new position in Peloton Interactive during the third quarter valued at approximately $44,000. Finally, Affiance Financial LLC bought a new position in Peloton Interactive during the fourth quarter valued at approximately $67,000. 74.43% of the stock is owned by hedge funds and other institutional investors.

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.