Peloton Interactive (NASDAQ:PTON) Stock Price Down 4.4% – Here’s Why

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price fell 4.4% on Monday . The stock traded as low as $9.84 and last traded at $9.89. 3,792,386 shares were traded during mid-day trading, a decline of 77% from the average session volume of 16,342,188 shares. The stock had previously closed at $10.34.

Analyst Ratings Changes

Several research firms recently issued reports on PTON. Robert W. Baird lifted their price objective on Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a report on Friday, November 1st. Morgan Stanley raised their target price on shares of Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Roth Mkm boosted their price target on shares of Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, TD Cowen raised their price objective on shares of Peloton Interactive from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Fifteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.75.

Peloton Interactive Stock Down 7.3 %

The stock has a market cap of $3.66 billion, a P/E ratio of -9.07 and a beta of 1.93. The company has a 50-day simple moving average of $6.72 and a two-hundred day simple moving average of $4.79.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. As a group, sell-side analysts forecast that Peloton Interactive, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Andrew S. Rendich sold 138,391 shares of Peloton Interactive stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.51, for a total value of $1,039,316.41. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Elizabeth F. Coddington sold 56,084 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total value of $252,378.00. Following the completion of the transaction, the chief financial officer now directly owns 186,466 shares in the company, valued at approximately $839,097. This represents a 23.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 506,517 shares of company stock worth $3,524,339 in the last quarter. Corporate insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. bought a new stake in Peloton Interactive during the third quarter valued at about $505,000. Sanctuary Advisors LLC bought a new stake in Peloton Interactive during the 3rd quarter valued at approximately $58,000. XTX Topco Ltd lifted its holdings in Peloton Interactive by 445.2% in the 3rd quarter. XTX Topco Ltd now owns 350,570 shares of the company’s stock worth $1,641,000 after purchasing an additional 286,268 shares in the last quarter. National Bank of Canada FI boosted its stake in Peloton Interactive by 647.5% in the 3rd quarter. National Bank of Canada FI now owns 28,749 shares of the company’s stock worth $135,000 after purchasing an additional 24,903 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of Peloton Interactive by 2.9% during the third quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock valued at $34,823,000 after buying an additional 206,500 shares during the last quarter. Institutional investors own 77.01% of the company’s stock.

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.