DnB Asset Management AS Sells 6,339,341 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

DnB Asset Management AS trimmed its holdings in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 71.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,487,899 shares of the company’s stock after selling 6,339,341 shares during the period. DnB Asset Management AS owned approximately 0.65% of Peloton Interactive worth $21,645,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Two Sigma Advisers LP raised its stake in Peloton Interactive by 2.9% during the third quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock valued at $34,823,000 after buying an additional 206,500 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Peloton Interactive in the 4th quarter worth about $360,000. Rhumbline Advisers boosted its stake in Peloton Interactive by 7.8% in the 4th quarter. Rhumbline Advisers now owns 479,134 shares of the company’s stock worth $4,168,000 after purchasing an additional 34,514 shares in the last quarter. Franklin Resources Inc. bought a new position in Peloton Interactive in the 3rd quarter worth about $505,000. Finally, Charles Schwab Investment Management Inc. grew its position in Peloton Interactive by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,136,182 shares of the company’s stock valued at $35,985,000 after purchasing an additional 139,826 shares during the last quarter. 77.01% of the stock is owned by institutional investors.

Peloton Interactive Trading Down 6.9 %

PTON opened at $6.30 on Friday. Peloton Interactive, Inc. has a 12 month low of $2.70 and a 12 month high of $10.90. The stock has a 50-day moving average of $7.73 and a 200 day moving average of $7.56. The firm has a market cap of $2.46 billion, a P/E ratio of -8.18 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). On average, research analysts forecast that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PTON has been the topic of several research reports. Argus upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Tuesday, February 11th. Macquarie reiterated a “neutral” rating and set a $9.00 target price on shares of Peloton Interactive in a research report on Monday, February 10th. The Goldman Sachs Group lifted their price objective on Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. UBS Group raised shares of Peloton Interactive from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $2.50 to $10.00 in a research note on Friday, December 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research note on Thursday, February 6th. Fifteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.69.

Insider Buying and Selling

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 38,151 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $6.83, for a total value of $260,571.33. Following the transaction, the chief financial officer now owns 258,880 shares of the company’s stock, valued at $1,768,150.40. This represents a 12.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 directly owns 474,234 shares of the company’s stock, valued at $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 691,597 shares of company stock valued at $5,671,783. Company insiders own 1.34% of the company’s stock.

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.