Ameriprise Financial Inc. Sells 6,430,055 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

Ameriprise Financial Inc. decreased its holdings in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 78.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,760,470 shares of the company’s stock after selling 6,430,055 shares during the period. Ameriprise Financial Inc. owned 0.46% of Peloton Interactive worth $15,316,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PTON. Franklin Resources Inc. purchased a new position in Peloton Interactive during the 3rd quarter valued at about $505,000. Wealthcare Advisory Partners LLC purchased a new position in Peloton Interactive during the 4th quarter valued at about $104,000. KBC Group NV grew its position in shares of Peloton Interactive by 36.0% in the 4th quarter. KBC Group NV now owns 15,953 shares of the company’s stock worth $139,000 after buying an additional 4,221 shares during the last quarter. R Squared Ltd purchased a new position in shares of Peloton Interactive in the 4th quarter worth approximately $28,000. Finally, Choreo LLC grew its position in shares of Peloton Interactive by 12.3% in the 4th quarter. Choreo LLC now owns 16,832 shares of the company’s stock worth $150,000 after buying an additional 1,838 shares during the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Peloton Interactive Trading Up 0.2%

Shares of NASDAQ PTON opened at $6.34 on Friday. Peloton Interactive, Inc. has a 12 month low of $2.83 and a 12 month high of $10.90. The company has a 50 day simple moving average of $6.24 and a two-hundred day simple moving average of $7.81. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of -8.23 and a beta of 2.25.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The business had revenue of $624.00 million for the quarter, compared to analyst estimates of $620.39 million. During the same period last year, the firm posted ($0.45) EPS. The company’s revenue for the quarter was down 13.1% on a year-over-year basis. Analysts forecast that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In related news, insider Jennifer Cunningham Cotter sold 187,238 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $6.45, for a total value of $1,207,685.10. Following the completion of the transaction, the insider now directly owns 100,269 shares in the company, valued at $646,735.05. The trade was a 65.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew S. Rendich sold 17,401 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $8.18, for a total transaction of $142,340.18. Following the completion of the transaction, the insider now owns 362,573 shares of the company’s stock, valued at approximately $2,965,847.14. This represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 674,338 shares of company stock worth $5,522,838. Company insiders own 1.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PTON shares. Bank of America cut their price objective on shares of Peloton Interactive from $11.50 to $9.50 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price objective on shares of Peloton Interactive from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research report on Friday, May 9th. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a research report on Monday, April 14th. Finally, Macquarie raised shares of Peloton Interactive from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $9.00 to $10.00 in a research report on Tuesday, May 13th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.30.

Peloton Interactive 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.