Peloton Stock Slowed After Top Investor Dumps Shares

Analysts remain bullish on the stock, though

Deputy Editor
Mar 25, 2020 at 10:22 AM
facebook X logo linkedin


Peloton Interactive Inc (NASDAQ:PTON) is down 0.8% to trade at $24.36 at last check, despite "stay at home" stocks rising amid the global pandemic as fitness clubs close. Weighing on the shares today are SEC filings that show Pelaton's top investor Wellington Management sold 4 million shares at varying prices worth about $100 million in the last week

Peloton stock has been on a choppy path in the last 12 months, hitting record low of $17.70 on March 16. Despite a bounce from those lows in the last week, PTON remains stymied by its 30-day moving average, a trendline not conquered on a closing basis since early February. 

Analysts sit overwhelmingly in the bullish camp, with 21 out of 23 sporting a "strong buy" or "buy." rating, with not a "sell" or "strong sell" in sight. Meanwhile, the average 12-month price target of $37.33 sits at a lofty 51.9% premium to current levels. 

Though short interest has fallen 30.3% in the last reporting period, these bears are still in control. The 26.99 million shares sold short make up a whopping 65.1% of the stock's available float, or nearly a week of trading at the stock's average daily pace. 

Calls are favored in the options pits. PTON sports a 10-day call/put volume ratio of 1.06 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). 

 

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*