Peloton Interactive (NASDAQ:PTON) Trading Down 13.9% – Here’s Why

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price was down 13.9% on Thursday . The stock traded as low as $5.67 and last traded at $5.43. Approximately 1,748,390 shares were traded during trading, a decline of 89% from the average daily volume of 15,961,614 shares. The stock had previously closed at $6.31.

Analysts Set New Price Targets

Several research firms have recently commented on PTON. Macquarie reissued a “neutral” rating and issued a $9.00 price objective on shares of Peloton Interactive in a report on Monday, February 10th. Citigroup decreased their price objective on shares of Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a research note on Friday, February 7th. Telsey Advisory Group restated a “market perform” rating and issued a $11.00 price objective on shares of Peloton Interactive in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group boosted their target price on Peloton Interactive from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Fifteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Peloton Interactive currently has a consensus rating of “Hold” and an average price target of $8.69.

Peloton Interactive Trading Down 12.4 %

The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -7.18 and a beta of 1.95. The firm’s 50-day moving average price is $7.60 and its 200 day moving average price is $7.62.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.04). As a group, equities research analysts anticipate that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

In related news, insider Nick V. Caldwell sold 68,727 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $6.59, for a total value of $452,910.93. Following the transaction, the insider now directly owns 474,234 shares in the company, valued at $3,125,202.06. This trade represents a 12.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Saqib Baig sold 22,662 shares of Peloton Interactive stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total value of $220,954.50. Following the transaction, the chief accounting officer now directly owns 130,031 shares in the company, valued at approximately $1,267,802.25. The trade was a 14.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 674,338 shares of company stock worth $5,522,838 in the last quarter. 1.34% of the stock is owned by insiders.

Institutional Trading of Peloton Interactive

Several hedge funds have recently added to or reduced their stakes in PTON. Vanguard Group Inc. grew its position in shares of Peloton Interactive by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 35,059,790 shares of the company’s stock valued at $305,020,000 after acquiring an additional 1,645,640 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Peloton Interactive by 38.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 16,820,256 shares of the company’s stock valued at $146,337,000 after purchasing an additional 4,635,667 shares during the period. DME Capital Management LP grew its holdings in Peloton Interactive by 10.4% during the fourth quarter. DME Capital Management LP now owns 10,522,687 shares of the company’s stock valued at $91,547,000 after purchasing an additional 992,797 shares during the period. Hennessy Advisors Inc. purchased a new stake in Peloton Interactive in the fourth quarter worth $85,260,000. Finally, Geode Capital Management LLC raised its stake in shares of Peloton Interactive by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 8,270,328 shares of the company’s stock valued at $71,969,000 after buying an additional 170,901 shares during the period. Institutional investors own 77.01% of the company’s stock.

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.