Saqib Baig Sells 5,000 Shares of Peloton Interactive (NASDAQ:PTON) Stock

Peloton Interactive, Inc. (NASDAQ:PTON) CAO Saqib Baig sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $6.95, for a total transaction of $34,750.00. Following the completion of the transaction, the chief accounting officer directly owned 180,665 shares in the company, valued at approximately $1,255,621.75. The trade was a 2.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Saqib Baig also recently made the following trade(s):

• On Tuesday, January 13th, Saqib Baig sold 10,000 shares of Peloton Interactive stock. The shares were sold at an average price of $6.87, for a total value of $68,700.00.
• On Monday, December 8th, Saqib Baig sold 5,000 shares of Peloton Interactive stock. The stock was sold at an average price of $6.39, for a total value of $31,950.00.
• On Wednesday, November 19th, Saqib Baig sold 2,387 shares of Peloton Interactive stock. The shares were sold at an average price of $6.97, for a total value of $16,637.39.
• On Monday, November 17th, Saqib Baig sold 42,267 shares of Peloton Interactive stock. The stock was sold at an average price of $7.25, for a total value of $306,435.75.

Peloton Interactive Price Performance

Shares of Peloton Interactive stock traded up $0.39 during trading on Tuesday, hitting $7.00. 16,546,137 shares of the company were exchanged, compared to its average volume of 6,812,856. The firm has a market capitalization of $2.92 billion, a P/E ratio of -25.00, a price-to-earnings-growth ratio of 1.99 and a beta of 2.40. The firm’s fifty day moving average price is $6.63 and its 200 day moving average price is $7.18. Peloton Interactive, Inc. has a 1-year low of $4.63 and a 1-year high of $10.25.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $550.80 million for the quarter, compared to analyst estimates of $540.61 million. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PTON has been the topic of a number of research reports. Citigroup cut their price target on Peloton Interactive from $9.50 to $8.25 and set a “neutral” rating on the stock in a report on Thursday, November 20th. Canaccord Genuity Group restated a “buy” rating and issued a $10.00 target price on shares of Peloton Interactive in a research note on Thursday, October 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $11.50 price target on shares of Peloton Interactive in a research report on Thursday, October 2nd. Telsey Advisory Group reiterated a “market perform” rating and issued a $9.00 price objective on shares of Peloton Interactive in a report on Monday, November 3rd. Finally, Wall Street Zen lowered shares of Peloton Interactive from a “buy” rating to a “hold” rating in a research report on Saturday. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $9.86.

Hedge Funds Weigh In On Peloton Interactive

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Peloton Interactive by 2.1% during the third quarter. Vanguard Group Inc. now owns 38,636,291 shares of the company’s stock worth $347,727,000 after acquiring an additional 811,585 shares in the last quarter. Eminence Capital LP bought a new stake in shares of Peloton Interactive in the 2nd quarter valued at about $112,681,000. Geode Capital Management LLC lifted its stake in Peloton Interactive by 5.7% in the 2nd quarter. Geode Capital Management LLC now owns 9,141,542 shares of the company’s stock valued at $63,450,000 after purchasing an additional 490,353 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Peloton Interactive by 27.1% during the first quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock worth $44,598,000 after purchasing an additional 1,503,680 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Peloton Interactive by 10.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,446,827 shares of the company’s stock worth $44,741,000 after buying an additional 615,647 shares during the last quarter. 77.01% of the stock is owned by institutional investors.

About Peloton Interactive

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.