Comcast’s NBCUniversal Sells Half Of Its Stake In Peloton For $178 Million

Comcast’s NBCUniversal has unloaded a chunk of Peloton Interactive shares worth $178 million as companies big and small scrutinize their portfolios to raise cash during a time of intense economic uncertainty.

The company said in an SEC filing it sold 5.2 million Peloton shares for $34.21 each. It still owns 5.14 million shares. The fitness company is in the rarefied group including Zoom and Netflix that have see share price gains during the current shelter-at home pandemic era. It’s posted strong gains from the start of the year, trading at about $31 – well up from its 52-week low of $17.70.

Peloton, which sells pricey spinning bikes and treadmills that connect to the Internet and have touch screens and subscriptions that let users join virtual fitness classes, went public last September in a rocky debut.