Peloton Interactive (NASDAQ:PTON) Shares Down 6%

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) dropped 6% during mid-day trading on Tuesday . The stock traded as low as $5.19 and last traded at $5.21. Approximately 763,507 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 11,445,159 shares. The stock had previously closed at $5.54.

Analyst Upgrades and Downgrades

Several brokerages have commented on PTON. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $6.00 price objective on shares of Peloton Interactive in a research report on Tuesday, October 31st. Roth Mkm reduced their target price on Peloton Interactive from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Bank of America lowered shares of Peloton Interactive from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $6.50 to $4.15 in a report on Thursday, October 19th. Deutsche Bank Aktiengesellschaft downgraded Peloton Interactive from a “buy” rating to a “hold” rating and dropped their target price for the stock from $13.00 to $4.00 in a research report on Tuesday, November 7th. Finally, Wedbush restated an “outperform” rating on shares of Peloton Interactive in a research report on Monday, September 25th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.29.

Peloton Interactive Price Performance

The company has a market capitalization of $1.89 billion, a PE ratio of -1.81 and a beta of 2.03. The business’s 50 day simple moving average is $4.94 and its 200 day simple moving average is $6.76.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Wednesday, August 23rd. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.28). Peloton Interactive had a negative net margin of 36.43% and a negative return on equity of 686.29%. The firm had revenue of $642.10 million during the quarter, compared to analyst estimates of $641.02 million. During the same period in the prior year, the firm earned ($1.32) earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. As a group, analysts anticipate that Peloton Interactive, Inc. will post -1.59 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 10,215 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $5.12, for a total value of $52,300.80. Following the completion of the sale, the chief financial officer now directly owns 32,441 shares of the company’s stock, valued at $166,097.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Peloton Interactive

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise boosted its stake in shares of Peloton Interactive by 176.2% during the second quarter. Banque Cantonale Vaudoise now owns 4,184 shares of the company’s stock valued at $32,000 after acquiring an additional 2,669 shares during the last quarter. Covestor Ltd raised its position in shares of Peloton Interactive by 1,054.2% in the 1st quarter. Covestor Ltd now owns 1,385 shares of the company’s stock worth $37,000 after buying an additional 1,265 shares during the period. ICA Group Wealth Management LLC purchased a new position in shares of Peloton Interactive in the 4th quarter worth about $39,000. Headlands Technologies LLC acquired a new position in Peloton Interactive during the second quarter valued at approximately $40,000. Finally, American International Group Inc. lifted its holdings in shares of Peloton Interactive by 84.8% during the 2nd quarter. American International Group Inc. now owns 5,730 shares of the company’s stock valued at $44,000 after acquiring an additional 2,629 shares in the last quarter. Institutional investors and hedge funds own 79.96% 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.