Hsbc Holdings PLC Sells 54,513 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

Hsbc Holdings PLC cut its position in Peloton Interactive, Inc. (NASDAQ:PTON) by 57.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,970 shares of the company’s stock after selling 54,513 shares during the quarter. Hsbc Holdings PLC’s holdings in Peloton Interactive were worth $363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd bought a new position in shares of Peloton Interactive in the 4th quarter valued at about $28,000. Russell Investments Group Ltd. raised its stake in Peloton Interactive by 969.6% in the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock valued at $35,000 after buying an additional 3,636 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Peloton Interactive in the fourth quarter valued at approximately $69,000. C M Bidwell & Associates Ltd. bought a new position in shares of Peloton Interactive during the 4th quarter worth approximately $72,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Peloton Interactive by 33.9% during the 4th quarter. Jones Financial Companies Lllp now owns 9,496 shares of the company’s stock worth $83,000 after acquiring an additional 2,403 shares during the last quarter. 77.01% of the stock is owned by institutional investors.

Insider Activity at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 170,819 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.62, for a total transaction of $1,643,278.78. Following the sale, the chief financial officer now owns 275,212 shares in the company, valued at $2,647,539.44. The trade was a 38.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Andrew S. Rendich sold 121,883 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total value of $1,162,763.82. Following the completion of the transaction, the insider now owns 404,188 shares of the company’s stock, valued at $3,855,953.52. This represents a 23.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 674,338 shares of company stock valued at $5,522,838. 1.34% of the stock is owned by insiders.

Peloton Interactive Price Performance

Shares of PTON opened at $6.51 on Friday. The firm has a 50 day simple moving average of $6.22 and a two-hundred day simple moving average of $7.79. Peloton Interactive, Inc. has a one year low of $2.83 and a one year high of $10.90. The company has a market cap of $2.54 billion, a P/E ratio of -8.45 and a beta of 2.25.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $620.39 million. During the same period in the prior year, the company posted ($0.45) EPS. The firm’s revenue was down 13.1% compared to the same quarter last year. On average, analysts expect that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Macquarie reiterated a “neutral” rating and issued a $9.00 price objective on shares of Peloton Interactive in a report on Monday, February 10th. Citigroup lowered their price target on shares of Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Morgan Stanley reduced their price objective on Peloton Interactive from $5.75 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. lowered their target price on Peloton Interactive from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Finally, Telsey Advisory Group reduced their price target on Peloton Interactive from $11.00 to $9.00 and set a “market perform” rating for the company in a research note on Monday. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Peloton Interactive has an average rating of “Hold” and a consensus target price of $8.48.

Peloton Interactive 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.