Northern Trust Corp Acquires 376,278 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

Northern Trust Corp increased its holdings in Peloton Interactive, Inc. (NASDAQ:PTON) by 12.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,413,295 shares of the company’s stock after purchasing an additional 376,278 shares during the quarter. Northern Trust Corp owned approximately 0.89% of Peloton Interactive worth $29,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PTON. Franklin Resources Inc. bought a new stake in shares of Peloton Interactive in the 3rd quarter valued at about $505,000. Assenagon Asset Management S.A. bought a new stake in Peloton Interactive in the fourth quarter valued at approximately $39,992,000. Hennessy Advisors Inc. acquired a new stake in Peloton Interactive during the 4th quarter valued at approximately $85,260,000. Wealthcare Advisory Partners LLC bought a new position in Peloton Interactive during the 4th quarter worth approximately $104,000. Finally, KBC Group NV lifted its position in shares of Peloton Interactive by 36.0% in the 4th quarter. KBC Group NV now owns 15,953 shares of the company’s stock worth $139,000 after purchasing an additional 4,221 shares during the period. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 170,819 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $9.62, for a total value of $1,643,278.78. Following the completion of the transaction, the chief financial officer now directly owns 275,212 shares of the company’s stock, valued at approximately $2,647,539.44. This trade represents a 38.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Saqib Baig sold 22,662 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total value of $220,954.50. Following the sale, the chief accounting officer now owns 130,031 shares in the company, valued at approximately $1,267,802.25. This represents a 14.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 674,338 shares of company stock valued at $5,522,838. Company insiders own 1.34% of the company’s stock.

Peloton Interactive Trading Down 5.4 %

Shares of PTON opened at $6.16 on Friday. The stock has a 50 day moving average of $6.20 and a 200 day moving average of $7.80. Peloton Interactive, Inc. has a 12 month low of $2.83 and a 12 month high of $10.90. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -8.00 and a beta of 2.25.

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

Analyst Ratings Changes

PTON has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Peloton Interactive from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Morgan Stanley cut their target price on 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. Bank of America lowered their target price on Peloton Interactive from $11.50 to $9.50 and set a “buy” rating for the company in a report on Tuesday, April 15th. Canaccord Genuity Group upgraded Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Friday, March 14th. Finally, Argus upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Tuesday, February 11th. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Peloton Interactive has an average rating of “Hold” and an average target price of $8.30.

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.