Peloton Interactive (NASDAQ:PTON) Trading Down 8.2% – What’s Next?

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

Wall Street Analyst Weigh In

PTON has been the topic of a number of research reports. UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and upped their price target for the company from $2.50 to $10.00 in a research note on Friday, December 6th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $11.00 target price on shares of Peloton Interactive in a research report on Monday, February 3rd. Canaccord Genuity Group raised Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Friday, March 14th. Argus raised Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a research report on Thursday, February 6th. Fifteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.69.

Peloton Interactive Stock Down 6.9 %

The firm has a market capitalization of $2.46 billion, a P/E ratio of -8.18 and a beta of 1.95. The business’s 50 day moving average is $7.77 and its 200-day moving average is $7.54.

Peloton Interactive (NASDAQ:PTON) last issued 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). Research analysts forecast that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Peloton Interactive news, insider Nick V. Caldwell sold 68,727 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $6.59, for a total value of $452,910.93. Following the sale, the insider now owns 474,234 shares in the company, valued at $3,125,202.06. This trade represents a 12.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Cunningham Cotter sold 187,238 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $6.45, for a total transaction of $1,207,685.10. Following the transaction, the insider now owns 100,269 shares of the company’s stock, valued at $646,735.05. This trade represents a 65.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 691,597 shares of company stock valued at $5,671,783. 1.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Peloton Interactive

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Townsquare Capital LLC boosted its stake in shares of Peloton Interactive by 6.5% during the fourth quarter. Townsquare Capital LLC now owns 19,280 shares of the company’s stock valued at $168,000 after purchasing an additional 1,172 shares in the last quarter. PDT Partners LLC raised its holdings in Peloton Interactive by 0.7% in the 3rd quarter. PDT Partners LLC now owns 205,573 shares of the company’s stock valued at $962,000 after buying an additional 1,373 shares during the last quarter. Comerica Bank boosted its position in Peloton Interactive by 29.1% during the 4th quarter. Comerica Bank now owns 6,164 shares of the company’s stock worth $54,000 after buying an additional 1,389 shares during the period. Cetera Investment Advisers grew its holdings in Peloton Interactive by 9.1% during the 4th quarter. Cetera Investment Advisers now owns 17,144 shares of the company’s stock worth $149,000 after acquiring an additional 1,432 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Peloton Interactive by 3.8% in the 4th quarter. Victory Capital Management Inc. now owns 42,084 shares of the company’s stock valued at $366,000 after acquiring an additional 1,534 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.