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

Peloton Interactive, Inc. (NASDAQ:PTON) shares traded down 6.7% during trading on Wednesday . The company traded as low as $7.85 and last traded at $7.89. 12,046,185 shares traded hands during trading, a decline of 18% from the average session volume of 14,701,085 shares. The stock had previously closed at $8.45.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Macquarie reiterated a “neutral” rating and issued a $9.00 price objective on shares of Peloton Interactive in a report on Monday, February 10th. JPMorgan Chase & Co. upped their price target on Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, November 1st. UBS Group raised Peloton Interactive from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $2.50 to $10.00 in a research report on Friday, December 6th. The Goldman Sachs Group raised their price target on shares of Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Truist Financial boosted their price objective on shares of Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a report on Friday, November 1st. Sixteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.38.

Peloton Interactive Trading Down 6.7 %

The company has a 50-day moving average price of $8.78 and a 200 day moving average price of $7.18. The stock has a market capitalization of $3.07 billion, a P/E ratio of -10.23 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). As a group, research analysts expect that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Insider Buying and Selling at Peloton Interactive

In related news, insider Jennifer Cunningham Cotter sold 47,457 shares of Peloton Interactive stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $9.11, for a total transaction of $432,333.27. Following the transaction, the insider now owns 287,507 shares in the company, valued at approximately $2,619,188.77. This trade represents a 14.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Karen Boone sold 16,925 shares of Peloton Interactive stock in a transaction on Thursday, December 5th. The stock was 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 approximately $2,200,011.88. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 397,005 shares of company stock valued at $3,771,433. 1.34% of the stock is owned by company insiders.

Institutional Trading of Peloton Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in PTON. R Squared Ltd purchased a new position in Peloton Interactive in the fourth quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in Peloton Interactive by 31.9% during the third 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 period. Russell Investments Group Ltd. raised its stake in shares of Peloton Interactive by 969.6% in the 4th quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock valued at $35,000 after acquiring an additional 3,636 shares during the period. Verdence Capital Advisors LLC acquired a new stake in Peloton Interactive in the 3rd quarter valued at approximately $52,000. Finally, Comerica Bank lifted its stake in Peloton Interactive by 29.1% during the fourth quarter. Comerica Bank now owns 6,164 shares of the company’s stock worth $54,000 after purchasing an additional 1,389 shares in the last quarter. Institutional investors and hedge funds 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.