Peloton Interactive (NASDAQ:PTON) CAO Saqib Baig Sells 30,918 Shares

Peloton Interactive, Inc. (NASDAQ:PTON) CAO Saqib Baig sold 30,918 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $4.14, for a total value of $128,000.52. Following the sale, the chief accounting officer owned 219,781 shares in the company, valued at $909,893.34. This trade represents a 12.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, February 18th, Saqib Baig sold 5,722 shares of Peloton Interactive stock. The stock was sold at an average price of $4.31, for a total value 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 value 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 value of $34,750.00.
• 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.

Peloton Interactive Stock Performance

Shares of NASDAQ:PTON traded up $0.13 during midday trading on Wednesday, reaching $4.32. 11,117,151 shares of the company’s stock traded hands, compared to its average volume of 14,892,185. The company has a fifty day simple moving average of $5.88 and a two-hundred day simple moving average of $6.97. Peloton Interactive, Inc. has a 1 year low of $4.08 and a 1 year high of $10.02. The company has a market cap of $1.84 billion, a P/E ratio of -33.23, a PEG ratio of 0.87 and a beta of 2.41.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $656.50 million for the quarter, compared to the consensus estimate of $675.04 million. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.24) earnings per share. As a group, research analysts forecast that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Argus lowered Peloton Interactive from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Macquarie Infrastructure lifted their price target on Peloton Interactive from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Peloton Interactive in a research note on Friday, January 9th. Guggenheim started coverage on Peloton Interactive in a report on Wednesday, December 10th. They issued a “neutral” rating on the stock. Finally, UBS Group reaffirmed a “buy” rating on shares of Peloton Interactive in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Peloton Interactive presently has a consensus rating of “Hold” and a consensus target price of $8.42.

Institutional Trading of Peloton Interactive

Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew its position in Peloton Interactive by 342.6% in the first quarter. Royal Bank of Canada now owns 616,367 shares of the company’s stock worth $3,896,000 after acquiring an additional 477,106 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Peloton Interactive by 2.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 290,981 shares of the company’s stock valued at $1,839,000 after purchasing an additional 6,921 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Peloton Interactive by 3,132.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,549 shares of the company’s stock worth $98,000 after purchasing an additional 15,068 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Peloton Interactive by 27.1% during the 1st 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, Caxton Associates LLP acquired a new stake in shares of Peloton Interactive during the 1st quarter worth about $282,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

More Peloton Interactive News

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.

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.