Cambridge Investment Research Advisors Inc. Lowers Holdings in Peloton Interactive, Inc. (NASDAQ:PTON)

Cambridge Investment Research Advisors Inc. lowered its holdings in Peloton Interactive, Inc. (NASDAQ:PTON) by 9.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,342 shares of the company’s stock after selling 2,524 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Peloton Interactive were worth $154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Russell Investments Group Ltd. lifted its position in shares of Peloton Interactive by 969.6% in the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock valued at $35,000 after acquiring an additional 3,636 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Peloton Interactive in the first quarter valued at about $37,000. GAMMA Investing LLC lifted its position in shares of Peloton Interactive by 1,082.5% in the first quarter. GAMMA Investing LLC now owns 8,159 shares of the company’s stock valued at $52,000 after acquiring an additional 7,469 shares in the last quarter. Comerica Bank lifted its position in shares of Peloton Interactive by 29.1% in the fourth quarter. Comerica Bank now owns 6,164 shares of the company’s stock valued at $54,000 after acquiring an additional 1,389 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of Peloton Interactive in the first quarter valued at about $67,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price objective on Peloton Interactive from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. cut their target price on Peloton Interactive from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Bank of America cut their target price on Peloton Interactive from $11.50 to $9.50 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Macquarie raised Peloton Interactive from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $9.00 to $10.00 in a research report on Tuesday, May 13th. Finally, Telsey Advisory Group cut their target price on Peloton Interactive from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Friday, May 9th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.30.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 38,708 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $6.96, for a total value of $269,407.68. Following the sale, the chief financial officer directly owned 294,342 shares in the company, valued at $2,048,620.32. This represents a 11.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nick V. Caldwell sold 63,925 shares of the firm’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $6.99, for a total transaction of $446,835.75. Following the sale, the insider owned 578,668 shares in the company, valued at approximately $4,044,889.32. This trade represents a 9.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 555,952 shares of company stock valued at $3,556,914. 1.34% of the stock is currently owned by company insiders.

Peloton Interactive Price Performance

Peloton Interactive stock opened at $6.44 on Tuesday. The firm has a market capitalization of $2.51 billion, a PE ratio of -14.64 and a beta of 2.11. The company’s 50-day moving average is $6.78 and its 200-day moving average is $7.15. Peloton Interactive, Inc. has a fifty-two week low of $2.83 and a fifty-two week high of $10.90.

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

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.