Peloton Interactive (NASDAQ:PTON) Stock Price Down 6.4%

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) fell 6.4% on Tuesday . The company traded as low as $4.36 and last traded at $4.38. 3,610,976 shares were traded during mid-day trading, a decline of 77% from the average session volume of 15,697,877 shares. The stock had previously closed at $4.68.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PTON. JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a research note on Tuesday, July 2nd. Robert W. Baird increased their target price on Peloton Interactive from $4.00 to $4.75 and gave the stock a “neutral” rating in a report on Monday, August 26th. TD Cowen increased their target price on Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Wolfe Research assumed coverage on Peloton Interactive in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, BMO Capital Markets restated a “market perform” rating and issued a $6.50 price objective on shares of Peloton Interactive in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.60.

Peloton Interactive Trading Down 6.4 %

The stock’s 50-day simple moving average is $4.05 and its 200-day simple moving average is $3.80. The firm has a market capitalization of $1.65 billion, a P/E ratio of -2.07 and a beta of 2.04.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, August 22nd. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.10. The company had revenue of $644.00 million for the quarter, compared to the consensus estimate of $633.00 million. Peloton Interactive’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.68) EPS. On average, equities research analysts expect that Peloton Interactive, Inc. will post -0.47 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In other news, CEO Chris Bruzzo sold 15,113 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $3.42, for a total value of $51,686.46. Following the completion of the sale, the chief executive officer now directly owns 97,433 shares in the company, valued at approximately $333,220.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Saqib Baig sold 50,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $4.88, for a total value of $244,000.00. Following the sale, the chief accounting officer now directly owns 87,014 shares of the company’s stock, valued at approximately $424,628.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chris Bruzzo sold 15,113 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $3.42, for a total transaction of $51,686.46. Following the completion of the transaction, the chief executive officer now owns 97,433 shares in the company, valued at approximately $333,220.86. The disclosure for this sale can be found here. Insiders sold a total of 158,016 shares of company stock worth $722,587 over the last three months. 3.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Peloton Interactive

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Peloton Interactive during the 2nd quarter valued at about $27,000. Skylands Capital LLC purchased a new stake in Peloton Interactive during the 2nd quarter valued at approximately $30,000. Nisa Investment Advisors LLC grew its holdings in Peloton Interactive by 1,836.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock valued at $32,000 after buying an additional 9,000 shares in the last quarter. Schneider Downs Wealth Management Advisors LP purchased a new stake in Peloton Interactive during the 2nd quarter valued at approximately $35,000. Finally, CIBC Asset Management Inc bought a new position in shares of Peloton Interactive during the 2nd quarter valued at approximately $35,000. 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.