Peloton Interactive (NASDAQ:PTON) Shares Gap Down to $4.55

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price gapped down before the market opened on Friday . The stock had previously closed at $4.55, but opened at $4.43. Peloton Interactive shares last traded at $4.25, with a volume of 6,771,626 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PTON. Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a report on Thursday. Oppenheimer restated an “outperform” rating on shares of Peloton Interactive in a research note on Tuesday, May 7th. JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a research note on Tuesday, July 2nd. Macquarie reaffirmed a “neutral” rating and issued a $2.53 price target on shares of Peloton Interactive in a report on Thursday. Finally, Bank of America dropped their price objective on shares of Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating on the stock in a report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.53.

Peloton Interactive Stock Performance

The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -2.29 and a beta of 2.02. The business’s 50 day moving average price is $3.48 and its 200 day moving average price is $3.77.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, August 22nd. The company reported ($0.08) EPS for the quarter, beating 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. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.68) EPS. Sell-side analysts anticipate that Peloton Interactive, Inc. will post -1.63 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

In related news, CEO Chris Bruzzo sold 14,936 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $3.62, for a total value of $54,068.32. Following the completion of the transaction, the chief executive officer now owns 38,680 shares of the company’s stock, valued at approximately $140,021.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,923 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $3.68, for a total transaction of $32,836.64. Following the transaction, the chief financial officer now directly owns 186,466 shares of the company’s stock, valued at $686,194.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Chris Bruzzo sold 14,936 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $3.62, for a total transaction of $54,068.32. Following the sale, the chief executive officer now directly owns 38,680 shares of the company’s stock, valued at approximately $140,021.60. The disclosure for this sale can be found here. Insiders sold a total of 53,813 shares of company stock worth $187,715 in the last 90 days. Corporate insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PTON. Charles Schwab Investment Management Inc. raised its holdings in shares of Peloton Interactive by 13.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,528,222 shares of the company’s stock valued at $15,397,000 after acquiring an additional 295,436 shares during the last quarter. Versor Investments LP acquired a new stake in Peloton Interactive during the 4th quarter worth $202,000. Russell Investments Group Ltd. grew its holdings in shares of Peloton Interactive by 25,397.7% during the first quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock worth $1,687,000 after buying an additional 392,141 shares in the last quarter. Seven Eight Capital LP acquired a new stake in shares of Peloton Interactive in the fourth quarter valued at about $855,000. Finally, Private Advisor Group LLC lifted its stake in shares of Peloton Interactive by 11.5% in the fourth quarter. Private Advisor Group LLC now owns 37,373 shares of the company’s stock worth $228,000 after buying an additional 3,855 shares in the last quarter. 77.01% of the stock is 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.