Peloton Interactive (NASDAQ:PTON) Shares Down 8.8% – Here’s What Happened

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) traded down 8.8% during trading on Wednesday . The stock traded as low as $9.56 and last traded at $9.64. 10,781,675 shares were traded during mid-day trading, a decline of 33% from the average session volume of 16,208,889 shares. The stock had previously closed at $10.57.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. TD Cowen upped their price target 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. Roth Mkm upped their price objective on shares of Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $2.50 to $10.00 in a research report on Friday, December 6th. Finally, JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research report on Thursday, October 3rd. Sixteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.97.

Peloton Interactive Trading Down 10.7 %

The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -8.82 and a beta of 1.90. The company’s 50 day simple moving average is $7.94 and its 200-day simple moving average is $5.33.

Peloton Interactive (NASDAQ:PTON) last posted 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 firm had revenue of $586.00 million for the quarter, compared to the consensus estimate of $572.97 million. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.44) EPS. Sell-side analysts anticipate that Peloton Interactive, Inc. will post -0.38 EPS for the current year.

Insider Activity

In other Peloton Interactive news, CAO Saqib Baig sold 36,776 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $7.53, for a total transaction of $276,923.28. Following the completion of the sale, the chief accounting officer now owns 137,357 shares in the company, valued at $1,034,298.21. The trade was a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Elizabeth F. Coddington sold 186,462 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $7.58, for a total transaction of $1,413,381.96. Following the sale, the chief financial officer now owns 223,017 shares of the company’s stock, valued at approximately $1,690,468.86. The trade was a 45.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 430,539 shares of company stock worth $3,260,596 over the last 90 days. Company insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

Several institutional investors have recently added to or reduced their stakes in the business. PDT Partners LLC increased its stake in Peloton Interactive by 0.7% during the third quarter. PDT Partners LLC now owns 205,573 shares of the company’s stock valued at $962,000 after purchasing an additional 1,373 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in Peloton Interactive by 31.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after purchasing an additional 1,597 shares during the last quarter. Signaturefd LLC increased its stake in Peloton Interactive by 2.7% during the second quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock valued at $384,000 after purchasing an additional 3,032 shares during the last quarter. Arizona State Retirement System increased its stake in Peloton Interactive by 3.8% during the second quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock valued at $314,000 after purchasing an additional 3,377 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC increased its stake in Peloton Interactive by 50.0% during the third quarter. Kohmann Bosshard Financial Services LLC now owns 15,000 shares of the company’s stock valued at $70,000 after purchasing an additional 5,000 shares during the last quarter. 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.