Peloton Interactive (NASDAQ:PTON) Shares Down 7.6% – Here’s What Happened

Peloton Interactive, Inc. (NASDAQ:PTON) shares traded down 7.6% on Monday . The company traded as low as $5.28 and last traded at $5.2550. 6,439,658 shares were traded during trading, a decline of 53% from the average session volume of 13,690,997 shares. The stock had previously closed at $5.69.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Truist Financial lowered their target price on shares of Peloton Interactive from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Argus cut shares of Peloton Interactive from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. The Goldman Sachs Group lifted their price target on shares of Peloton Interactive from $7.00 to $8.00 and gave the company a “buy” rating in a report on Friday. Citigroup reduced their price target on shares of Peloton Interactive from $8.25 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Peloton Interactive currently has a consensus rating of “Hold” and an average target price of $8.25.

Peloton Interactive Stock Performance

The company has a market capitalization of $2.26 billion, a P/E ratio of 132.78, a P/E/G ratio of 0.98 and a beta of 2.50. The business’s fifty day simple moving average is $4.47 and its 200-day simple moving average is $5.64.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The company had revenue of $630.90 million during the quarter, compared to the consensus estimate of $618.25 million. Peloton Interactive had a net margin of 0.94% and a negative return on equity of 6.37%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. As a group, analysts forecast that Peloton Interactive, Inc. will post 0.13 EPS for the current year.

Insider Buying and Selling

In other news, CFO Elizabeth F. Coddington sold 21,819 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $3.87, for a total value of $84,439.53. Following the sale, the chief financial officer directly owned 346,535 shares in the company, valued at $1,341,090.45. The trade was a 5.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dion C. Sanders sold 146,844 shares of the business’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 sold a total of 949,584 shares of company stock worth $4,048,638 in the last 90 days. 1.30% of the stock is owned by company insiders.

Institutional Trading of Peloton Interactive

A number of large investors have recently made changes to their positions in the business. Vident Advisory LLC increased its holdings in shares of Peloton Interactive by 1.1% in the 2nd quarter. Vident Advisory LLC now owns 110,258 shares of the company’s stock worth $765,000 after buying an additional 1,180 shares during the last quarter. Cresset Asset Management LLC increased its holdings in shares of Peloton Interactive by 11.9% in the 3rd quarter. Cresset Asset Management LLC now owns 12,748 shares of the company’s stock worth $115,000 after buying an additional 1,354 shares during the last quarter. Vise Technologies Inc. increased its holdings in shares of Peloton Interactive by 10.3% in the 3rd quarter. Vise Technologies Inc. now owns 15,680 shares of the company’s stock worth $141,000 after buying an additional 1,466 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Peloton Interactive by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 27,126 shares of the company’s stock worth $244,000 after buying an additional 1,526 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its position in Peloton Interactive by 4.3% in the second quarter. Osaic Holdings Inc. now owns 59,883 shares of the company’s stock worth $416,000 after buying an additional 2,472 shares during the last quarter. 77.01% of the stock is currently owned by institutional investors.

Peloton Interactive Company Profile

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.