Peloton Interactive (NASDAQ:PTON) Hits New 12-Month Low – Here’s Why

Peloton Interactive, Inc. (NASDAQ:PTON) shares reached a new 52-week low on Monday . The company traded as low as $3.81 and last traded at $3.9050, with a volume of 1113035 shares traded. The stock had previously closed at $4.02.

Wall Street Analyst Weigh In

PTON has been the topic of several research analyst reports. Bank of America set a $9.00 price objective on Peloton Interactive in a research report on Friday, January 30th. Morgan Stanley boosted their price target on Peloton Interactive from $6.00 to $6.50 and gave the stock an “equal weight” rating in a report on Wednesday, November 19th. Citigroup dropped their price target on Peloton Interactive from $8.25 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Macquarie Infrastructure upped their target price on shares of Peloton Interactive from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Finally, Guggenheim initiated coverage on shares of Peloton Interactive in a research note on Wednesday, December 10th. They set a “neutral” rating for the company. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.42.

Peloton Interactive Trading Down 2.4%

The business’s fifty day moving average price is $5.53 and its 200 day moving average price is $6.78. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -29.96, a PEG ratio of 0.79 and a beta of 2.47.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The business had revenue of $656.50 million during the quarter, compared to the consensus estimate of $675.04 million. During the same quarter in the prior year, the business earned ($0.24) EPS. The company’s revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts forecast that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Transactions at Peloton Interactive

In other Peloton Interactive news, insider Nick V. Caldwell sold 50,570 shares of Peloton Interactive stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $4.15, for a total value of $209,865.50. Following the sale, the insider owned 807,847 shares of the company’s stock, valued at approximately $3,352,565.05. The trade was a 5.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dion C. Sanders sold 146,844 shares of the company’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $4.41, for a total transaction of $647,582.04. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,079,910 shares of company stock valued at $5,144,999 over the last 90 days. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

A number of large investors have recently made changes to their positions in the company. Royal Bank of Canada raised its position in Peloton Interactive by 342.6% during the first quarter. Royal Bank of Canada now owns 616,367 shares of the company’s stock valued at $3,896,000 after acquiring an additional 477,106 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Peloton Interactive by 2.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 290,981 shares of the company’s stock worth $1,839,000 after purchasing an additional 6,921 shares during the period. NewEdge Advisors LLC boosted its position in Peloton Interactive by 3,132.6% during the first quarter. NewEdge Advisors LLC now owns 15,549 shares of the company’s stock worth $98,000 after purchasing an additional 15,068 shares during the period. Goldman Sachs Group Inc. grew its holdings in Peloton Interactive by 27.1% during the first quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock valued at $44,598,000 after purchasing an additional 1,503,680 shares during the last quarter. Finally, Caxton Associates LLP bought a new stake in shares of Peloton Interactive during the 1st quarter worth $282,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

About Peloton Interactive

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.