Harbor Master Investors Hadley Sells 434,211 Shares of Peloton (NASDAQ:PTON) Stock

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Peloton (NASDAQ:PTON) major shareholder Harbor Master Investors Hadley sold 434,211 shares of Peloton stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $24.51, for a total transaction of $10,642,511.61. Following the transaction, the insider now directly owns 5,493,467 shares of the company’s stock, valued at $134,644,876.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Harbor Master Investors Hadley also recently made the following trade(s):

  • On Wednesday, March 18th, Harbor Master Investors Hadley sold 1,560,931 shares of Peloton stock. The stock was sold at an average price of $26.18, for a total transaction of $40,865,173.58.

Shares of PTON stock traded up $1.23 on Thursday, hitting $25.75. The stock had a trading volume of 4,692,872 shares, compared to its average volume of 6,520,922. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.47 and a quick ratio of 3.01. The business has a 50 day moving average price of $25.98. Peloton has a one year low of $17.70 and a one year high of $37.02.

Peloton (NASDAQ:PTON) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.12. The firm had revenue of $466.30 million during the quarter, compared to the consensus estimate of $423.74 million. The business’s revenue was up 77.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($4.83) earnings per share. On average, analysts anticipate that Peloton will post -1 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on the stock. Macquarie assumed coverage on shares of Peloton in a research note on Friday, February 28th. They set an “outperform” rating and a $38.00 target price for the company. Barclays reissued a “buy” rating and set a $40.00 target price on shares of Peloton in a research note on Friday, February 7th. Robert W. Baird reissued a “buy” rating and set a $35.00 target price on shares of Peloton in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on shares of Peloton from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, March 18th. Finally, Argus assumed coverage on shares of Peloton in a research note on Thursday, December 12th. They set a “buy” rating and a $40.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $35.87.

Several hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its position in Peloton by 2,030.2% in the fourth quarter. Macquarie Group Ltd. now owns 852,095 shares of the company’s stock valued at $24,199,000 after buying an additional 812,095 shares during the last quarter. Franklin Resources Inc. increased its position in Peloton by 68.7% during the fourth quarter. Franklin Resources Inc. now owns 2,736,200 shares of the company’s stock worth $77,694,000 after buying an additional 1,114,100 shares during the period. Nuveen Asset Management LLC increased its position in Peloton by 5.9% during the fourth quarter. Nuveen Asset Management LLC now owns 2,641,155 shares of the company’s stock worth $75,009,000 after buying an additional 146,439 shares during the period. Norges Bank acquired a new position in Peloton during the fourth quarter worth approximately $11,360,000. Finally, Geode Capital Management LLC acquired a new position in Peloton during the fourth quarter worth approximately $8,544,000. Hedge funds and other institutional investors own 25.03% of the company’s stock.

Peloton Company Profile

Peloton Interactive, Inc provides interactive fitness products in North America. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. The company also provides connected fitness subscriptions for multiple household users, and access to all live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

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