Peloton Interactive (NASDAQ:PTON) Stock Price Down 6.7% – Here’s What Happened

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) were down 6.7% on Friday . The company traded as low as $9.56 and last traded at $9.58. Approximately 3,018,891 shares were traded during trading, a decline of 81% from the average daily volume of 16,048,078 shares. The stock had previously closed at $10.27.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a report on Monday, November 4th. Telsey Advisory Group upped their price target on Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Macquarie raised their price objective on Peloton Interactive from $4.90 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a research 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.97.

Peloton Interactive Stock Down 8.8 %

The stock’s 50-day simple moving average is $8.55 and its 200 day simple moving average is $5.59. The company has a market cap of $3.57 billion, a price-to-earnings ratio of -8.76 and a beta of 1.90.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $586.00 million during the quarter, compared to analyst estimates of $572.97 million. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.44) earnings per share. On average, sell-side analysts expect that Peloton Interactive, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity

In related news, CEO Chris Bruzzo sold 24,977 shares of Peloton Interactive stock in a transaction on Friday, October 18th. The shares were sold at an average price of $5.80, for a total value of $144,866.60. Following the transaction, the chief executive officer now directly owns 149,240 shares in the company, valued at $865,592. This trade represents a 14.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew S. Rendich sold 138,391 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the transaction, the insider now directly owns 287,973 shares of the company’s stock, valued at $2,162,677.23. This represents a 32.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 430,539 shares of company stock worth $3,260,596. Corporate insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV acquired a new stake in Peloton Interactive in the 2nd quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in Peloton Interactive by 31.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after buying an additional 1,597 shares in the last quarter. CIBC Asset Management Inc purchased a new position in Peloton Interactive during the second quarter worth $35,000. Schneider Downs Wealth Management Advisors LP acquired a new position in shares of Peloton Interactive in the second quarter worth $35,000. Finally, Koss Olinger Consulting LLC acquired a new stake in shares of Peloton Interactive during the second quarter valued at $36,000. 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.