Peloton Interactive (NASDAQ:PTON) Shares Down 8.2% – Here’s What Happened

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) fell 8.2% during mid-day trading on Friday . The stock traded as low as $6.24 and last traded at $6.22. 8,837,424 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 16,003,890 shares. The stock had previously closed at $6.77.

Analyst Ratings Changes

Several research firms have weighed in on PTON. The Goldman Sachs Group raised their target price on Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Citigroup lowered their price target on Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Argus upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Tuesday, February 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $11.00 target price on shares of Peloton Interactive in a research note on Monday, February 3rd. Finally, UBS Group raised shares of Peloton Interactive from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $2.50 to $10.00 in a research report on Friday, December 6th. Fifteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.69.

Peloton Interactive Price Performance

The company’s 50 day moving average price is $7.73 and its 200 day moving average price is $7.58. The firm has a market capitalization of $2.46 billion, a P/E ratio of -8.18 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). On average, research analysts anticipate that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Insider Transactions at Peloton Interactive

In related news, Director Karen Boone sold 17,259 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.63, for a total value of $148,945.17. Following the sale, the director now directly owns 244,641 shares in the company, valued at $2,111,251.83. This trade represents a 6.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew S. Rendich sold 121,883 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total transaction of $1,162,763.82. Following the completion of the transaction, the insider now directly owns 404,188 shares of the company’s stock, valued at $3,855,953.52. This trade represents a 23.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 691,597 shares of company stock worth $5,671,783 in the last quarter. 1.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTON. Hennessy Advisors Inc. acquired a new position in shares of Peloton Interactive during the fourth quarter worth about $85,260,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Peloton Interactive by 38.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 16,820,256 shares of the company’s stock worth $146,337,000 after acquiring an additional 4,635,667 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Peloton Interactive in the fourth quarter valued at approximately $39,992,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Peloton Interactive by 245.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,227,854 shares of the company’s stock worth $36,782,000 after purchasing an additional 3,004,757 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in Peloton Interactive by 1,438.9% during the fourth quarter. Voloridge Investment Management LLC now owns 3,109,054 shares of the company’s stock worth $27,049,000 after purchasing an additional 2,907,023 shares during the last quarter. 77.01% of the stock is owned by institutional investors and hedge funds.

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.