Insider Selling: Peloton (NASDAQ:PTON) Major Shareholder Sells 434,211 Shares of Stock

Peloton (NASDAQ:PTON) major shareholder Harbor Master Investors Hadley sold 434,211 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $24.51, for a total transaction of $10,642,511.61. Following the sale, the insider now owns 5,493,467 shares of the company’s stock, valued at approximately $134,644,876.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Harbor Master Investors Hadley also recently made the following trade(s):

  • On Wednesday, March 18th, Harbor Master Investors Hadley sold 1,560,931 shares of Peloton stock. The shares were sold at an average price of $26.18, for a total transaction of $40,865,173.58.

NASDAQ PTON traded up $1.23 on Thursday, reaching $25.75. 4,692,872 shares of the stock were exchanged, compared to its average volume of 6,520,922. Peloton has a one year low of $17.70 and a one year high of $37.02. The firm’s 50-day moving average price is $25.98. The company has a current ratio of 3.47, a quick ratio of 3.01 and a debt-to-equity ratio of 0.32.

Peloton (NASDAQ:PTON) last released its earnings results on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.12. The firm had revenue of $466.30 million for the quarter, compared to the consensus estimate of $423.74 million. During the same quarter in the previous year, the business posted ($4.83) EPS. Peloton’s revenue was up 77.4% on a year-over-year basis. Sell-side analysts forecast that Peloton will post -1 EPS for the current year.

Several research analysts have weighed in on the stock. Oppenheimer increased their price target on shares of Peloton from $29.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Robert W. Baird reissued a “buy” rating and issued a $35.00 price objective on shares of Peloton in a report on Tuesday, February 4th. KeyCorp reissued a “buy” rating and issued a $45.00 price objective (up previously from $32.00) on shares of Peloton in a report on Monday, December 2nd. UBS Group raised their price objective on shares of Peloton from $29.00 to $38.00 and gave the stock a “positive” rating in a report on Tuesday, December 10th. They noted that the move was a valuation call. Finally, Barclays reissued a “buy” rating and issued a $40.00 price objective on shares of Peloton in a report on Friday, February 7th. Four analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $35.87.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTON. Signaturefd LLC raised its stake in Peloton by 683.6% during the 4th quarter. Signaturefd LLC now owns 1,293 shares of the company’s stock worth $37,000 after acquiring an additional 1,128 shares during the period. Advisor Group Inc. raised its stake in Peloton by 49.4% during the 4th quarter. Advisor Group Inc. now owns 2,066 shares of the company’s stock worth $59,000 after acquiring an additional 683 shares during the period. PSI Advisors LLC bought a new stake in Peloton during the 4th quarter worth approximately $113,000. Rockefeller Capital Management L.P. bought a new stake in Peloton during the 4th quarter worth approximately $143,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in Peloton by 1,591.1% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,344 shares of the company’s stock worth $152,000 after acquiring an additional 5,028 shares during the period. Institutional investors own 25.03% of the company’s stock.

About Peloton

Peloton Interactive, Inc provides interactive fitness products in North America. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. The company also provides connected fitness subscriptions for multiple household users, and access to all live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

Further Reading: Price-Sales Ratio

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