Peloton Interactive (NASDAQ:PTON) Shares Down 4.2%

Peloton Interactive, Inc. (NASDAQ:PTON) shares dropped 4.2% during trading on Friday . The company traded as low as $3.57 and last traded at $3.65. Approximately 4,846,682 shares were traded during trading, a decline of 67% from the average daily volume of 14,626,933 shares. The stock had previously closed at $3.81.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PTON shares. The Goldman Sachs Group reduced their target price on Peloton Interactive from $6.50 to $5.75 and set a “neutral” rating for the company in a report on Friday, February 2nd. Truist Financial dropped their price objective on Peloton Interactive from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, February 2nd. Telsey Advisory Group dropped their price objective on Peloton Interactive from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Friday, February 2nd. JPMorgan Chase & Co. dropped their price objective on Peloton Interactive from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Finally, Morgan Stanley initiated coverage on Peloton Interactive in a research note on Monday, March 11th. They issued an “equal weight” rating and a $3.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Peloton Interactive currently has a consensus rating of “Hold” and a consensus target price of $7.50.

Peloton Interactive Price Performance

The firm has a market cap of $1.38 billion, a P/E ratio of -1.47 and a beta of 1.96. The stock has a 50 day moving average of $4.51 and a 200 day moving average of $5.11.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, February 1st. The company reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.01. The firm had revenue of $743.60 million during the quarter, compared to the consensus estimate of $733.17 million. The firm’s revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.98) EPS. On average, research analysts predict that Peloton Interactive, Inc. will post -1.6 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.34, for a total transaction of $38,960.18. Following the transaction, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at $453,217.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.34, for a total transaction of $38,960.18. Following the completion of the sale, the chief financial officer now directly owns 104,428 shares in the company, valued at $453,217.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Karen Boone sold 50,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $4.33, for a total transaction of $216,500.00. Following the sale, the director now owns 34,966 shares of the company’s stock, valued at $151,402.78. The disclosure for this sale can be found here. 3.28% of the stock is owned by insiders.

Institutional Trading of Peloton Interactive

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Peloton Interactive by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 30,339,435 shares of the company’s stock worth $184,767,000 after buying an additional 735,658 shares during the period. Twin Focus Capital Partners LLC purchased a new position in shares of Peloton Interactive during the fourth quarter valued at approximately $292,000. Syon Capital LLC purchased a new position in shares of Peloton Interactive during the fourth quarter valued at approximately $122,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Peloton Interactive by 9.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 142,894 shares of the company’s stock valued at $870,000 after purchasing an additional 12,368 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Peloton Interactive by 1.5% during the fourth quarter. Legal & General Group Plc now owns 314,220 shares of the company’s stock valued at $1,914,000 after purchasing an additional 4,636 shares during the last quarter. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

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.