Peloton Interactive (NASDAQ:PTON) Trading Down 5.8% – Here’s Why

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) were down 5.8% during mid-day trading on Monday . The company traded as low as $5.49 and last traded at $5.50. Approximately 5,065,062 shares changed hands during trading, a decline of 67% from the average daily volume of 15,420,703 shares. The stock had previously closed at $5.84.

Analysts Set New Price Targets

PTON has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research note on Thursday, August 22nd. Robert W. Baird lifted their price target on Peloton Interactive from $4.00 to $4.75 and gave the company a “neutral” rating in a report on Monday, August 26th. JPMorgan Chase & Co. downgraded Peloton Interactive from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $7.00 to $5.00 in a research note on Friday, August 23rd. Telsey Advisory Group increased their price target on shares of Peloton Interactive from $4.00 to $5.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Finally, JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.52.

Peloton Interactive Stock Down 6.2 %

The stock’s 50-day moving average is $4.49 and its 200-day moving average is $3.86. The firm has a market cap of $2.03 billion, a P/E ratio of -2.57 and a beta of 2.04.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, August 22nd. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.10. The firm had revenue of $644.00 million for the quarter, compared to analyst estimates of $633.00 million. Peloton Interactive’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.68) EPS. As a group, analysts expect that Peloton Interactive, Inc. will post -0.65 EPS for the current fiscal year.

Insider Activity

In other news, CAO Saqib Baig sold 50,000 shares of Peloton Interactive stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $4.88, for a total transaction of $244,000.00. Following the sale, the chief accounting officer now directly owns 87,014 shares in the company, valued at approximately $424,628.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Nick V. Caldwell bought 31,337 shares of Peloton Interactive stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $4.25 per share, for a total transaction of $133,182.25. Following the purchase, the insider now owns 31,337 shares of the company’s stock, valued at approximately $133,182.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Saqib Baig sold 50,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $4.88, for a total transaction of $244,000.00. Following the sale, the chief accounting officer now owns 87,014 shares of the company’s stock, valued at $424,628.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 158,016 shares of company stock worth $722,587. 3.28% of the stock is currently owned by corporate 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. DME Capital Management LP bought a new position in shares of Peloton Interactive in the second quarter valued at approximately $22,947,000. DNB Asset Management AS raised its position in Peloton Interactive by 42.4% in the 2nd quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock valued at $40,880,000 after purchasing an additional 3,611,069 shares during the last quarter. Clearline Capital LP acquired a new position in Peloton Interactive in the second quarter worth $7,527,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Peloton Interactive during the first quarter worth $5,877,000. Finally, Vanguard Group Inc. increased its stake in shares of Peloton Interactive by 4.0% in the first quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock valued at $135,212,000 after buying an additional 1,215,397 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.

About Peloton Interactive

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.