Peloton Interactive (NASDAQ:PTON) Stock Price Down 5.3%

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) traded down 5.3% during mid-day trading on Tuesday . The company traded as low as $3.39 and last traded at $3.40. 2,895,783 shares changed hands during trading, a decline of 81% from the average session volume of 15,561,204 shares. The stock had previously closed at $3.59.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Sanford C. Bernstein lowered Peloton Interactive from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $8.00 to $3.80 in a research report on Friday, May 3rd. JPMorgan Chase & Co. cut their price objective on Peloton Interactive from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Bank of America cut their price objective on Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating for the company in a report on Monday, April 29th. Robert W. Baird upped their price objective on Peloton Interactive from $3.50 to $4.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Finally, The Goldman Sachs Group cut their price objective on Peloton Interactive from $5.75 to $3.50 and set a “neutral” rating for the company in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Peloton Interactive presently has an average rating of “Hold” and an average price target of $5.09.

Peloton Interactive Trading Down 2.5 %

The firm has a 50-day simple moving average of $3.62 and a two-hundred day simple moving average of $4.29. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -1.63 and a beta of 2.02.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The firm had revenue of $717.70 million during the quarter, compared to the consensus estimate of $720.85 million. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.79) EPS. On average, sell-side analysts forecast that Peloton Interactive, Inc. will post -1.62 earnings per share for the current year.

Insider Transactions at Peloton Interactive

In related news, CEO Karen Boone sold 14,841 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $3.31, for a total transaction of $49,123.71. Following the completion of the sale, the chief executive officer now owns 116,171 shares in the company, valued at approximately $384,526.01. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Peloton Interactive news, insider Andrew S. Rendich sold 27,741 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $3.91, for a total value of $108,467.31. Following the completion of the sale, the insider now owns 113,288 shares in the company, valued at approximately $442,956.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Karen Boone sold 14,841 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $3.31, for a total value of $49,123.71. Following the completion of the sale, the chief executive officer now owns 116,171 shares of the company’s stock, valued at approximately $384,526.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,441 shares of company stock worth $244,496. 3.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds have recently modified their holdings of PTON. Vanguard Group Inc. boosted its stake in Peloton Interactive by 0.8% in the third quarter. Vanguard Group Inc. now owns 29,603,777 shares of the company’s stock worth $149,499,000 after purchasing an additional 248,314 shares in the last quarter. DNB Asset Management AS increased its stake in shares of Peloton Interactive by 31.7% in the 4th quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock valued at $51,076,000 after acquiring an additional 2,020,159 shares during the last quarter. Parkside Investments LLC increased its stake in shares of Peloton Interactive by 10.3% in the 4th quarter. Parkside Investments LLC now owns 53,700 shares of the company’s stock valued at $327,000 after acquiring an additional 5,000 shares during the last quarter. TB Alternative Assets Ltd. grew its position in shares of Peloton Interactive by 31.0% in the 4th quarter. TB Alternative Assets Ltd. now owns 1,014,400 shares of the company’s stock valued at $6,178,000 after purchasing an additional 240,300 shares during the period. Finally, Compagnie Lombard Odier SCmA grew its position in shares of Peloton Interactive by 33.3% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 20,000 shares of the company’s stock valued at $122,000 after purchasing an additional 5,000 shares during the period. 77.01% of the stock is owned by institutional investors and hedge funds.

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.