Peloton Interactive (NASDAQ:PTON) Sees Strong Trading Volume

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) saw unusually-strong trading volume on Tuesday . Approximately 17,525,454 shares changed hands during mid-day trading, an increase of 17% from the previous session’s volume of 15,017,558 shares.The stock last traded at $4.11 and had previously closed at $3.54.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PTON. Sanford C. Bernstein downgraded Peloton Interactive from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $8.00 to $3.80 in a report on Friday. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research note on Friday. Bank of America reduced their price target on shares of Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating for the company in a research note on Monday, April 29th. Robert W. Baird lowered their price objective on shares of Peloton Interactive from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Friday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $4.00 target price (down previously from $5.00) on shares of Peloton Interactive in a research report on Monday, April 29th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Peloton Interactive currently has a consensus rating of “Hold” and an average price target of $5.70.

Peloton Interactive Stock Performance

The company has a market capitalization of $1.53 billion, a PE ratio of -1.96 and a beta of 2.01. The company’s fifty day moving average is $3.90 and its 200-day moving average is $4.86.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The firm had revenue of $717.70 million during the quarter, compared to analysts’ expectations of $720.85 million. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the business posted ($0.79) earnings per share. On average, sell-side analysts expect that Peloton Interactive, Inc. will post -1.61 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total transaction of $38,960.18. Following the completion of the transaction, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at $453,217.52. The sale was disclosed in a filing with the SEC, which is available through this link. 3.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Rakuten Securities Inc. bought a new stake in shares of Peloton Interactive during the fourth quarter valued at approximately $47,000. Johnson & White Wealth Management LLC purchased a new position in Peloton Interactive in the first quarter worth $43,000. Abundance Wealth Counselors purchased a new stake in shares of Peloton Interactive during the 1st quarter valued at $46,000. Carl P. Sherr & Co. LLC purchased a new stake in shares of Peloton Interactive during the 3rd quarter valued at $55,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Peloton Interactive during the 4th quarter valued at $78,000. Hedge funds and other 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.