Peloton Interactive (NASDAQ:PTON) Trading Down 3.2%

Peloton Interactive, Inc. (NASDAQ:PTON) shares dropped 3.2% during mid-day trading on Tuesday . The stock traded as low as $4.56 and last traded at $4.57. Approximately 1,428,853 shares changed hands during trading, a decline of 91% from the average daily volume of 15,926,431 shares. The stock had previously closed at $4.72.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PTON. Wolfe Research began coverage on shares of Peloton Interactive in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Robert W. Baird raised their target price on shares of Peloton Interactive from $4.00 to $4.75 and gave the stock a “neutral” rating in a report on Monday, August 26th. Sanford C. Bernstein boosted their target price on shares of Peloton Interactive from $3.80 to $4.25 and gave the company a “market perform” rating in a research note on Friday, August 23rd. JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research note on Tuesday, July 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Peloton Interactive currently has a consensus rating of “Hold” and a consensus target price of $4.57.

Peloton Interactive Price Performance

The firm has a 50-day moving average of $3.82 and a 200-day moving average of $3.78. The stock has a market cap of $1.73 billion, a PE ratio of -2.24 and a beta of 2.04.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, August 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.10. The company had revenue of $644.00 million for the quarter, compared to analysts’ expectations of $633.00 million. During the same period last year, the business earned ($0.68) earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. Equities analysts forecast that Peloton Interactive, Inc. will post -0.65 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, 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 transaction of $49,123.71. Following the completion of the transaction, the chief executive officer now owns 116,171 shares in the company, valued at approximately $384,526.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Saqib Baig sold 50,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $4.88, for a total value of $244,000.00. Following the completion of the transaction, the chief accounting officer now owns 87,014 shares of the company’s stock, valued at approximately $424,628.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Karen Boone sold 14,841 shares of the business’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 sale, the chief executive officer now directly owns 116,171 shares in the company, valued at $384,526.01. The disclosure for this sale can be found here. Over the last three months, insiders sold 136,038 shares of company stock valued at $597,188. Insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors and hedge funds have recently modified their holdings of PTON. Mercer Global Advisors Inc. ADV bought a new stake in Peloton Interactive in the second quarter worth $27,000. Skylands Capital LLC purchased a new position in shares of Peloton Interactive during the 2nd quarter worth about $30,000. Nisa Investment Advisors LLC boosted its stake in shares of Peloton Interactive by 1,836.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock worth $32,000 after purchasing an additional 9,000 shares during the period. Schneider Downs Wealth Management Advisors LP bought a new position in Peloton Interactive during the 2nd quarter valued at about $35,000. Finally, CIBC Asset Management Inc purchased a new stake in Peloton Interactive in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.