Peloton Interactive (NASDAQ:PTON) Trading Down 6.7% – Here’s Why

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and upped their target price for the stock from $2.50 to $10.00 in a research note on Friday, December 6th. JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. Telsey Advisory Group boosted their target price on Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Robert W. Baird increased their price target on Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Bank of America raised Peloton Interactive from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $3.75 to $9.00 in a research report on Monday, November 4th. Sixteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Peloton Interactive has a consensus rating of “Hold” and a consensus target price of $6.97.

Peloton Interactive Trading Down 8.6 %

The firm has a market cap of $3.58 billion, a PE ratio of -8.78 and a beta of 1.90. The stock has a fifty day simple moving average of $8.62 and a two-hundred day simple moving average of $5.64.

Peloton Interactive (NASDAQ:PTON) last posted its earnings results 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 business had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. During the same quarter in the previous year, the company earned ($0.44) EPS. Peloton Interactive’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Peloton Interactive, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Peloton Interactive

In related news, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $5.80, for a total value of $144,866.60. Following the transaction, the chief executive officer now owns 149,240 shares of the company’s stock, valued at $865,592. This represents a 14.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Karen Boone sold 16,925 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $9.64, for a total value of $163,157.00. Following the transaction, the chief executive officer now owns 228,217 shares in the company, valued at $2,200,011.88. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 430,539 shares of company stock valued at $3,260,596 in the last quarter. Insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV purchased a new stake in Peloton Interactive during the 2nd quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Peloton Interactive by 31.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock worth $31,000 after buying an additional 1,597 shares during the last quarter. CIBC Asset Management Inc purchased a new position in shares of Peloton Interactive during the second quarter valued at approximately $35,000. Schneider Downs Wealth Management Advisors LP bought a new position in shares of Peloton Interactive during the second quarter valued at approximately $35,000. Finally, Koss Olinger Consulting LLC purchased a new position in Peloton Interactive during the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.