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Peloton Interactive insiders sold 467,358 shares worth $3.4 million, with insiders owning 1.34% of the stock. Institutional investors hold 77.01% of shares, with Gtcr LLC acquiring a $65.5 million stake. Analysts maintain a "Hold" rating, with a consensus target price of $6.97. Peloton reported a quarterly EPS of -$0.16, missing estimates, while revenue fell 1.6% year-over-year.
Peloton has appointed Peter Stern, a Ford executive and cofounder of Apple Fitness+, as its new CEO, effective January 1. Stern, who has been a Peloton member since 2016, brings extensive experience in subscription services and product innovation, aiming to enhance the company's high-margin recurring revenue model. Interim co-CEO Karen Boone will remain until year-end, while Chris Bruzzo steps down from his role.
David Einhorn of Greenlight Capital believes Peloton's stock could rise to $31.50 per share if the company successfully implements cost-cutting measures, potentially doubling its adjusted EBITDA. Despite challenges, Peloton's high-margin subscription model and loyal customer base position it for recovery, with projected EBITDA of $400-$500 million if management aligns costs with industry benchmarks. Einhorn emphasizes the need for new leadership to achieve these goals.
Karen Boone
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Peloton Interactive Insider Sales and Institutional Investments Highlight Market Activity
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peloton appoints peter stern as new ceo effective january first
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peloton's potential turnaround hinges on new leadership and cost-cutting strategies
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