Peloton Interactive (NASDAQ:PTON) Shares Down 5.3% – Here’s What Happened

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price was down 5.3% on Wednesday . The stock traded as low as $7.86 and last traded at $7.88. Approximately 3,261,356 shares traded hands during trading, a decline of 67% from the average daily volume of 9,985,887 shares. The stock had previously closed at $8.32.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PTON shares. Macquarie boosted their price target on Peloton Interactive from $4.90 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Telsey Advisory Group boosted their price target on Peloton Interactive from $5.00 to $9.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. UBS Group upgraded 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 report on Friday, December 6th. Truist Financial boosted their target price on Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Robert W. Baird boosted their target price on Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Sixteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Peloton Interactive presently has an average rating of “Hold” and a consensus target price of $6.97.

Peloton Interactive Stock Performance

The company’s 50-day moving average is $9.18 and its 200-day moving average is $6.44. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -7.54 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $586.00 million for the quarter, compared to analysts’ expectations of $572.97 million. Peloton Interactive’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.44) EPS. On average, analysts predict that Peloton Interactive, Inc. will post -0.39 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In other news, insider Andrew S. Rendich sold 138,391 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $7.51, for a total value of $1,039,316.41. Following the completion of the transaction, the insider now owns 287,973 shares of the company’s stock, valued at $2,162,677.23. The trade was a 32.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Karen Boone sold 16,925 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $9.64, for a total transaction of $163,157.00. Following the completion of the transaction, the chief executive officer now directly owns 228,217 shares of the company’s stock, valued at $2,200,011.88. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 422,821 shares of company stock worth $3,264,674. Company insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several institutional investors and hedge funds have recently made changes to their positions in PTON. Gtcr LLC acquired a new position in shares of Peloton Interactive in the 3rd quarter valued at $65,520,000. Hennessy Advisors Inc. acquired a new stake in shares of Peloton Interactive in the 4th quarter valued at about $85,260,000. Assenagon Asset Management S.A. bought a new stake in shares of Peloton Interactive in the fourth quarter valued at about $39,992,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Peloton Interactive during the third quarter worth about $8,363,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Peloton Interactive during the third quarter worth about $5,724,000. 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.