First Trust Direct Indexing L.P. Lowers Stake in Peloton Interactive, Inc. (NASDAQ:PTON)

First Trust Direct Indexing L.P. decreased its holdings in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 47.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,496 shares of the company’s stock after selling 9,595 shares during the period. First Trust Direct Indexing L.P.’s holdings in Peloton Interactive were worth $49,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Mercer Global Advisors Inc. ADV acquired a new position in shares of Peloton Interactive in the second quarter valued at approximately $27,000. Skylands Capital LLC acquired a new position in Peloton Interactive in the 2nd quarter valued at $30,000. Nisa Investment Advisors LLC lifted its stake in shares of Peloton Interactive by 1,836.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock worth $32,000 after acquiring an additional 9,000 shares during the period. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Peloton Interactive in the first quarter valued at about $44,000. Finally, Schneider Downs Wealth Management Advisors LP acquired a new position in shares of Peloton Interactive during the second quarter worth about $35,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

Insider Buying and Selling

In other Peloton Interactive news, insider Nick V. Caldwell purchased 31,337 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $4.25 per share, for a total transaction of $133,182.25. Following the acquisition, the insider now owns 31,337 shares of the company’s stock, valued at approximately $133,182.25. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Peloton Interactive news, insider Nick V. Caldwell acquired 31,337 shares of the stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $4.25 per share, with a total value of $133,182.25. Following the completion of the transaction, the insider now directly owns 31,337 shares in the company, valued at approximately $133,182.25. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Chris Bruzzo sold 13,524 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $8.24, for a total value of $111,437.76. Following the transaction, the director now owns 167,362 shares in the company, valued at $1,379,062.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,888 shares of company stock worth $1,038,717. 1.34% of the stock is owned by insiders.

Peloton Interactive Stock Performance

Peloton Interactive stock opened at $7.93 on Thursday. Peloton Interactive, Inc. has a fifty-two week low of $2.70 and a fifty-two week high of $8.92. The stock has a fifty day moving average of $5.29 and a two-hundred day moving average of $4.16. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -7.41 and a beta of 1.93.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $586.00 million for the quarter, compared to analysts’ expectations of $572.97 million. During the same period last year, the firm earned ($0.44) earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. On average, analysts forecast that Peloton Interactive, Inc. will post -0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

PTON has been the topic of a number of analyst reports. Truist Financial lifted their price objective on Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a report on Friday, November 1st. Wolfe Research started coverage on Peloton Interactive in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein increased their price objective on Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Robert W. Baird raised their target price on Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research note on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.57.

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.