Truist Financial Corp Lowers Stake in Peloton Interactive, Inc. $PTON

Truist Financial Corp reduced its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 24.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,563 shares of the company’s stock after selling 5,173 shares during the quarter. Truist Financial Corp’s holdings in Peloton Interactive were worth $108,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PTON. GAMMA Investing LLC boosted its stake in shares of Peloton Interactive by 1,082.5% during the first quarter. GAMMA Investing LLC now owns 8,159 shares of the company’s stock valued at $52,000 after purchasing an additional 7,469 shares during the period. SG Americas Securities LLC boosted its stake in shares of Peloton Interactive by 689.7% during the first quarter. SG Americas Securities LLC now owns 117,888 shares of the company’s stock valued at $745,000 after purchasing an additional 102,959 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Peloton Interactive by 385.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 60,476 shares of the company’s stock valued at $382,000 after purchasing an additional 48,023 shares during the period. Diversified Trust Co purchased a new stake in shares of Peloton Interactive during the first quarter valued at $391,000. Finally, Jaffetilchin Investment Partners LLC lifted its stake in Peloton Interactive by 22.8% in the first quarter. Jaffetilchin Investment Partners LLC now owns 53,829 shares of the company’s stock worth $340,000 after acquiring an additional 9,991 shares during the period. 77.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Peloton Interactive

In related news, insider Nick V. Caldwell sold 206,901 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $7.78, for a total value of $1,609,689.78. Following the transaction, the insider owned 737,788 shares in the company, valued at approximately $5,739,990.64. This represents a 21.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elizabeth F. Coddington sold 238,664 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $7.85, for a total transaction of $1,873,512.40. Following the completion of the transaction, the chief financial officer owned 346,535 shares in the company, valued at approximately $2,720,299.75. This trade represents a 40.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,851,882 shares of company stock worth $14,798,917. 1.34% of the stock is owned by insiders.

Peloton Interactive Stock Performance

Shares of Peloton Interactive stock opened at $7.50 on Friday. The company has a market capitalization of $3.06 billion, a PE ratio of -24.19, a P/E/G ratio of 2.57 and a beta of 2.27. The company has a 50-day simple moving average of $7.96 and a two-hundred day simple moving average of $7.03. Peloton Interactive, Inc. has a one year low of $4.63 and a one year high of $10.90.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, August 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $606.90 million during the quarter, compared to the consensus estimate of $580.29 million. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Peloton Interactive has set its FY 2025 guidance at EPS. On average, equities analysts predict that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PTON. Wall Street Zen raised shares of Peloton Interactive from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Truist Financial set a $11.00 price objective on shares of Peloton Interactive in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Peloton Interactive in a research note on Tuesday, October 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Peloton Interactive in a research note on Thursday, October 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $9.36.

Peloton Interactive Company 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.