Peloton Interactive (NASDAQ:PTON) Stock Price Down 5.3% – Here’s What Happened

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) were down 5.3% on Wednesday . The company traded as low as $7.86 and last traded at $7.88. Approximately 3,261,356 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 9,985,887 shares. The stock had previously closed at $8.32.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PTON. Macquarie boosted their price target on Peloton Interactive from $4.90 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on shares of Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Truist Financial increased their price objective on shares of Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Telsey Advisory Group upped their target price on Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Finally, Sanford C. Bernstein lifted their price target on Peloton Interactive from $4.25 to $6.50 and gave the company a “market perform” rating in a report on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.97.

Peloton Interactive Trading Up 1.8 %

The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -7.62 and a beta of 1.95. The firm has a 50-day simple moving average of $9.16 and a two-hundred day simple moving average of $6.46.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $586.00 million during the quarter, compared to the consensus estimate of $572.97 million. During the same period in the prior year, the company posted ($0.44) EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts anticipate that Peloton Interactive, Inc. will post -0.39 EPS for the current year.

Insider Activity

In other news, CEO Karen Boone sold 16,925 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $9.64, for a total transaction of $163,157.00. Following the transaction, the chief executive officer now owns 228,217 shares in the company, valued at $2,200,011.88. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Saqib Baig sold 36,776 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.53, for a total transaction of $276,923.28. Following the completion of the sale, the chief accounting officer now directly owns 137,357 shares of the company’s stock, valued at approximately $1,034,298.21. The trade was a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 395,813 shares of company stock valued at $3,041,724 in the last three months. 1.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Peloton Interactive

Several large investors have recently bought and sold shares of the company. Gtcr LLC purchased a new position in shares of Peloton Interactive in the third quarter valued at approximately $65,520,000. Hennessy Advisors Inc. purchased a new position in Peloton Interactive in the 4th quarter valued at $85,260,000. Two Sigma Advisers LP boosted its stake in Peloton Interactive by 2.9% during the 3rd quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock worth $34,823,000 after purchasing an additional 206,500 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Peloton Interactive during the fourth quarter worth $39,992,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Peloton Interactive by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,996,356 shares of the company’s stock valued at $18,703,000 after buying an additional 291,946 shares during the last quarter. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

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.