Peloton Interactive (NASDAQ:PTON) Trading Down 3.8% – Here’s What Happened

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) were down 3.8% on Monday . The company traded as low as $6.90 and last traded at $6.78. Approximately 1,169,517 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 15,770,081 shares. The stock had previously closed at $7.05.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PTON shares. Citigroup dropped their price objective on shares of Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Canaccord Genuity Group upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Friday. UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $2.50 to $10.00 in a report on Friday, December 6th. Telsey Advisory Group reiterated a “market perform” rating and set a $11.00 price target on shares of Peloton Interactive in a report on Monday, February 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a report on Thursday, February 6th. Fifteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Peloton Interactive has an average rating of “Hold” and a consensus price target of $8.69.

Peloton Interactive Stock Performance

The firm’s 50-day moving average is $8.12 and its 200 day moving average is $7.45. The stock has a market cap of $2.52 billion, a PE ratio of -8.42 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) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). On average, sell-side analysts predict that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, insider Jennifer Cunningham Cotter sold 187,238 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $6.45, for a total transaction of $1,207,685.10. Following the completion of the transaction, the insider now owns 100,269 shares in the company, valued at approximately $646,735.05. This represents a 65.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Saqib Baig sold 22,662 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total transaction of $220,954.50. Following the transaction, the chief accounting officer now owns 130,031 shares of the company’s stock, valued at approximately $1,267,802.25. The trade was a 14.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 584,719 shares of company stock worth $4,958,301 in the last 90 days. 1.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Townsquare Capital LLC grew its stake in shares of Peloton Interactive by 6.5% during the 4th quarter. Townsquare Capital LLC now owns 19,280 shares of the company’s stock worth $168,000 after purchasing an additional 1,172 shares during the period. PDT Partners LLC grew its stake in shares of Peloton Interactive by 0.7% during the 3rd quarter. PDT Partners LLC now owns 205,573 shares of the company’s stock worth $962,000 after purchasing an additional 1,373 shares during the period. Comerica Bank grew its stake in shares of Peloton Interactive by 29.1% during the 4th quarter. Comerica Bank now owns 6,164 shares of the company’s stock worth $54,000 after purchasing an additional 1,389 shares during the period. Cetera Investment Advisers grew its stake in shares of Peloton Interactive by 9.1% during the 4th quarter. Cetera Investment Advisers now owns 17,144 shares of the company’s stock worth $149,000 after purchasing an additional 1,432 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Peloton Interactive by 3.8% during the 4th quarter. Victory Capital Management Inc. now owns 42,084 shares of the company’s stock worth $366,000 after purchasing an additional 1,534 shares during the period. 77.01% of the stock is owned by institutional investors and hedge funds.

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.