Peloton Interactive (NASDAQ:PTON) Stock Price Down 6.7% – Time to Sell?

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

Analysts Set New Price Targets

PTON has been the topic of several recent research reports. Macquarie reaffirmed a “neutral” rating and set a $9.00 target price on shares of Peloton Interactive in a research note on Monday, February 10th. Morgan Stanley upped their price objective on Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Robert W. Baird lifted their target price on Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Truist Financial boosted their target price on Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets boosted their price objective on Peloton Interactive from $6.50 to $8.50 and gave the stock a “market perform” rating in a research report on Monday, November 4th. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.38.

Peloton Interactive Stock Performance

The stock has a market cap of $3.07 billion, a PE ratio of -10.23 and a beta of 1.95. The firm’s 50-day moving average is $8.78 and its 200 day moving average is $7.18.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share 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 Transactions at Peloton Interactive

In other Peloton Interactive news, CAO Saqib Baig sold 22,662 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total transaction of $220,954.50. Following the completion of the transaction, the chief accounting officer now directly owns 130,031 shares in the company, valued at approximately $1,267,802.25. This trade represents a 14.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Karen Boone sold 17,259 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.63, for a total transaction of $148,945.17. Following the completion of the sale, the director now owns 244,641 shares in the company, valued at $2,111,251.83. This represents a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 397,005 shares of company stock valued at $3,771,433. Corporate insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors have recently made changes to their positions in PTON. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Peloton Interactive in the third quarter valued at approximately $5,724,000. Gtcr LLC purchased a new stake in Peloton Interactive in the 3rd quarter valued at about $65,520,000. Two Sigma Advisers LP boosted its position in shares of Peloton Interactive by 2.9% in the third quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock worth $34,823,000 after acquiring an additional 206,500 shares during the last quarter. Versor Investments LP acquired a new position in Peloton Interactive during the third quarter worth approximately $415,000. Finally, Franklin Resources Inc. acquired a new position in shares of Peloton Interactive in the 3rd quarter valued at $505,000. 77.01% of the stock is owned by institutional investors and hedge funds.

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.