Peloton Interactive (NASDAQ:PTON) Stock Price Down 8.2% – Here’s What Happened

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price traded down 8.2% during mid-day trading on Monday . The company traded as low as $4.16 and last traded at $4.0650. 13,371,309 shares changed hands during mid-day trading, an increase of 0% from the average session volume of 13,339,756 shares. The stock had previously closed at $4.43.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Zacks Research downgraded shares of Peloton Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Bank of America set a $9.00 price objective on shares of Peloton Interactive in a research report on Friday, January 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Peloton Interactive in a report on Friday, January 9th. Argus cut Peloton Interactive from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Truist Financial decreased their price target on Peloton Interactive from $12.00 to $9.00 and set a “buy” rating for the company in a report on Friday, February 6th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.42.

Peloton Interactive Price Performance

The business’s 50 day simple moving average is $4.55 and its 200 day simple moving average is $6.23. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -30.65, a price-to-earnings-growth ratio of 0.72 and a beta of 2.47.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). During the same period last year, the firm posted ($0.24) earnings per share. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, analysts expect that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CAO Saqib Baig sold 30,918 shares of Peloton Interactive stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $4.14, for a total transaction of $128,000.52. Following the completion of the transaction, the chief accounting officer owned 219,781 shares in the company, valued at approximately $909,893.34. The trade was a 12.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nick V. Caldwell sold 75,762 shares of Peloton Interactive stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $7.00, for a total value of $530,334.00. Following the transaction, the insider owned 764,220 shares of the company’s stock, valued at $5,349,540. This represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,052,924 shares of company stock valued at $4,823,092 in the last ninety days. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Peloton Interactive

Several hedge funds and other institutional investors have recently bought and sold shares of PTON. Vanguard Group Inc. raised its holdings in shares of Peloton Interactive by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 39,227,591 shares of the company’s stock valued at $241,642,000 after buying an additional 591,300 shares during the period. Eminence Capital LP boosted its stake in Peloton Interactive by 20.3% during the 4th quarter. Eminence Capital LP now owns 18,154,907 shares of the company’s stock valued at $111,834,000 after acquiring an additional 3,069,497 shares during the last quarter. DNB Asset Management AS lifted its position in shares of Peloton Interactive by 142.4% during the fourth quarter. DNB Asset Management AS now owns 10,776,627 shares of the company’s stock worth $66,384,000 after purchasing an additional 6,331,510 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Peloton Interactive by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 9,741,115 shares of the company’s stock worth $60,015,000 after buying an additional 369,614 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Peloton Interactive by 27.1% during the first quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock worth $44,598,000 after purchasing an additional 1,503,680 shares during the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

About Peloton Interactive

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.