Northern Trust Corp Boosts Stake in Peloton Interactive, Inc. (NASDAQ:PTON)

Northern Trust Corp raised its position in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 12.4% during the fourth quarter, HoldingsChannel reports. The firm owned 3,413,295 shares of the company’s stock after purchasing an additional 376,278 shares during the period. Northern Trust Corp’s holdings in Peloton Interactive were worth $29,696,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PTON. R Squared Ltd purchased a new position in shares of Peloton Interactive during the 4th quarter valued at about $28,000. Russell Investments Group Ltd. lifted its holdings in shares of Peloton Interactive by 969.6% in the 4th quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock worth $35,000 after acquiring an additional 3,636 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Peloton Interactive in the 4th quarter valued at $69,000. C M Bidwell & Associates Ltd. bought a new position in shares of Peloton Interactive during the 4th quarter valued at $72,000. Finally, Jones Financial Companies Lllp raised its position in Peloton Interactive by 33.9% in the 4th quarter. Jones Financial Companies Lllp now owns 9,496 shares of the company’s stock worth $83,000 after purchasing an additional 2,403 shares during the period. Institutional investors own 77.01% of the company’s stock.

Analyst Ratings Changes

PTON has been the topic of a number of recent research reports. Truist Financial raised Peloton Interactive from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Monday, April 28th. Citigroup dropped their price objective on Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Canaccord Genuity Group upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Friday, March 14th. Morgan Stanley decreased their price objective on shares of Peloton Interactive from $5.75 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Finally, Macquarie reiterated a “neutral” rating and set a $9.00 target price on shares of Peloton Interactive in a report on Monday, February 10th. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Peloton Interactive has an average rating of “Hold” and a consensus target price of $8.30.

Insider Buying and Selling

In related news, insider Jennifer Cunningham Cotter sold 187,238 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 100,269 shares in the company, valued at approximately $646,735.05. This trade represents a 65.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nick V. Caldwell sold 68,727 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $6.59, for a total transaction of $452,910.93. Following the sale, the insider now owns 474,234 shares of the company’s stock, valued at approximately $3,125,202.06. This represents a 12.66 % 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. 1.34% of the stock is owned by corporate insiders.

Peloton Interactive Stock Performance

NASDAQ:PTON opened at $6.16 on Friday. The firm has a 50-day simple moving average of $6.20 and a two-hundred day simple moving average of $7.80. The firm has a market cap of $2.40 billion, a P/E ratio of -8.00 and a beta of 2.25. 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 issued its earnings results 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 during the quarter, compared to analyst estimates of $620.39 million. The company’s revenue was down 13.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.45) EPS. On average, equities research analysts predict that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

About Peloton Interactive

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.