Insider Selling: Peloton Interactive (NASDAQ:PTON) CAO Sells 30,918 Shares of Stock

Peloton Interactive, Inc. (NASDAQ:PTON) CAO Saqib Baig sold 30,918 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $4.14, for a total transaction of $128,000.52. Following the completion of the transaction, the chief accounting officer owned 219,781 shares of the company’s stock, valued at $909,893.34. This represents a 12.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, February 18th, Saqib Baig sold 5,722 shares of Peloton Interactive stock. The shares were sold at an average price of $4.31, for a total transaction of $24,661.82.
• On Tuesday, January 13th, Saqib Baig sold 10,000 shares of Peloton Interactive stock. The stock was sold at an average price of $6.87, for a total transaction of $68,700.00.
• On Friday, January 9th, Saqib Baig sold 5,000 shares of Peloton Interactive stock. The shares were sold at an average price of $6.95, for a total transaction of $34,750.00.
• On Monday, December 8th, Saqib Baig sold 5,000 shares of Peloton Interactive stock. The shares were sold at an average price of $6.39, for a total transaction of $31,950.00.

Peloton Interactive Price Performance

NASDAQ PTON traded up $0.13 on Wednesday, hitting $4.32. The stock had a trading volume of 11,117,151 shares, compared to its average volume of 14,892,185. The business’s fifty day moving average price is $5.88 and its 200 day moving average price is $6.97. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -33.23, a price-to-earnings-growth ratio of 0.87 and a beta of 2.41. Peloton Interactive, Inc. has a 52-week low of $4.08 and a 52-week high of $10.02.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The firm had revenue of $656.50 million during the quarter, compared to analysts’ expectations of $675.04 million. During the same period last year, the firm earned ($0.24) earnings per share. Peloton Interactive’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. boosted its position in Peloton Interactive by 1,602.6% in the 2nd quarter. Bessemer Group Inc. now owns 5,312 shares of the company’s stock worth $37,000 after purchasing an additional 5,000 shares in the last quarter. MAI Capital Management lifted its stake in shares of Peloton Interactive by 64.6% in the 2nd quarter. MAI Capital Management now owns 5,498 shares of the company’s stock valued at $38,000 after purchasing an additional 2,158 shares during the period. Advisory Services Network LLC purchased a new stake in Peloton Interactive during the third quarter worth $48,000. Evolve Private Wealth LLC purchased a new stake in Peloton Interactive during the fourth quarter worth $62,000. Finally, NewEdge Advisors LLC grew its position in Peloton Interactive by 575.2% during the fourth quarter. NewEdge Advisors LLC now owns 10,182 shares of the company’s stock valued at $63,000 after buying an additional 8,674 shares during the period. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Peloton Interactive

Here are the key news stories impacting Peloton Interactive this week:

• Neutral Sentiment: Brokerage consensus remains tepid: analysts give PTON an average recommendation of “Hold,” signaling no clear upgrade or downgrade catalyst from the sell-side. Article Title
• Negative Sentiment: Significant insider selling across Peloton’s senior team — largest disclosed sales include CFO Elizabeth F. Coddington (238,013 shares, ~40.7% reduction), Jennifer Cunningham Cotter (125,432 shares, ~33% reduction), Dion C. Sanders (88,242 shares, ~37.5% reduction), Nick V. Caldwell (50,570 shares, ~5.9% reduction), COO Charles P. Kirol (6,419 shares, ~6.8% reduction), and CAO Saqib Baig (30,918 and 5,722 shares). Large, concentrated sales by officers can weigh on investor confidence and are typically viewed as negative signals unless explained as pre-planned liquidity needs. SEC filings: Coddington Coddington Form 4, Cotter Cotter Form 4, Sanders Sanders Form 4, Caldwell Caldwell Form 4, Kirol Kirol Form 4, Baig Baig Form 4.

Analyst Ratings Changes

Several brokerages recently commented on PTON. Zacks Research raised shares of Peloton Interactive from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. decreased their price target on shares of Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Peloton Interactive in a research note on Friday, January 9th. Argus downgraded Peloton Interactive from a “buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Guggenheim started coverage on Peloton Interactive in a research note on Wednesday, December 10th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.42.

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.