M&T Bank Corp Sells 5,146 Shares of Peloton Interactive, Inc. (NASDAQ:PTON)

M&T Bank Corp reduced its position in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 16.1% in the third quarter, Holdings Channel reports. The firm owned 26,748 shares of the company’s stock after selling 5,146 shares during the quarter. M&T Bank Corp’s holdings in Peloton Interactive were worth $125,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PTON. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Peloton Interactive in the 3rd quarter worth approximately $5,724,000. Gtcr LLC bought a new stake in shares of Peloton Interactive in the 3rd quarter worth $65,520,000. Two Sigma Advisers LP raised its stake in shares of Peloton Interactive by 2.9% in the third quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock worth $34,823,000 after purchasing an additional 206,500 shares during the last quarter. Select Equity Group L.P. bought a new position in shares of Peloton Interactive during the second quarter valued at $1,832,000. Finally, Versor Investments LP purchased a new stake in shares of Peloton Interactive during the third quarter valued at $415,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Elizabeth F. Coddington sold 186,462 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $7.58, for a total transaction of $1,413,381.96. Following the completion of the transaction, the chief financial officer now directly owns 223,017 shares in the company, valued at approximately $1,690,468.86. This represents a 45.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Saqib Baig sold 36,776 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.53, for a total transaction of $276,923.28. Following the completion of the sale, the chief accounting officer now owns 137,357 shares in the company, valued at $1,034,298.21. This represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 430,539 shares of company stock worth $3,260,596 over the last 90 days. Corporate insiders own 1.34% of the company’s stock.

Peloton Interactive Price Performance

PTON stock opened at $9.23 on Friday. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of -8.63 and a beta of 1.90. Peloton Interactive, Inc. has a 1-year low of $2.70 and a 1-year high of $10.90. The business has a 50 day simple moving average of $8.12 and a two-hundred day simple moving average of $5.39.

Peloton Interactive (NASDAQ:PTON) last posted 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 the consensus estimate of $572.97 million. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.44) earnings per share. Sell-side analysts anticipate that Peloton Interactive, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PTON has been the topic of several research analyst reports. Truist Financial upped their target price on shares of Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, November 1st. JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a report on Thursday, October 3rd. Canaccord Genuity Group boosted their target price on shares of Peloton Interactive from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. BMO Capital Markets increased their price target on Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a report on Monday, November 4th. Finally, TD Cowen lifted their price objective on Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Sixteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Peloton Interactive presently has a consensus rating of “Hold” and an average target price of $6.97.

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.