Peloton Interactive (NASDAQ:PTON) Stock Price Down 5.8% – Here’s What Happened

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) fell 5.8% on Monday . The stock traded as low as $5.31 and last traded at $5.3050. Approximately 1,062,008 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 12,625,520 shares. The stock had previously closed at $5.63.

Analysts Set New Price Targets

PTON has been the subject of a number of analyst reports. UBS Group reissued a “buy” rating on shares of Peloton Interactive in a research note on Monday, June 15th. Wall Street Zen raised shares of Peloton Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. The Goldman Sachs Group upped 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, May 8th. Telsey Advisory Group reissued a “market perform” rating on shares of Peloton Interactive in a report on Monday, August 3rd. Finally, Weiss Ratings raised shares of Peloton Interactive from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.94.

Peloton Interactive Trading Down 4.4%

The firm has a fifty day simple moving average of $5.92 and a two-hundred day simple moving average of $5.21. The firm has a market cap of $2.36 billion, a PE ratio of 44.71, a PEG ratio of 0.36 and a beta of 2.52.

Peloton Interactive (NASDAQ:PTON) last posted its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The firm had revenue of $607.70 million for the quarter, compared to analysts’ expectations of $596.60 million. Peloton Interactive had a negative return on equity of 23.92% and a net margin of 2.58%.The business’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 earnings per share. Equities analysts expect that Peloton Interactive, Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Peloton Interactive news, CFO Saqib Baig sold 5,973 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $5.19, for a total transaction of $30,999.87. Following the transaction, the chief financial officer directly owned 244,046 shares of the company’s stock, valued at approximately $1,266,598.74. The trade was a 2.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dion C. Sanders sold 112,523 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $5.19, for a total transaction of $583,994.37. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 131,694 shares of company stock worth $691,299. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Institutional investors have recently bought and sold shares of the stock. Hennessy Advisors Inc. purchased a new position in Peloton Interactive in the fourth quarter worth about $30,533,000. Jackson Creek Investment Advisors LLC bought a new position in shares of Peloton Interactive in the 4th quarter worth approximately $1,110,000. Vanguard Group Inc. lifted its stake in shares of Peloton Interactive by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 39,227,591 shares of the company’s stock worth $241,642,000 after purchasing an additional 591,300 shares during the period. Ardmore Road Asset Management LP boosted its holdings in shares of Peloton Interactive by 187.9% in the first quarter. Ardmore Road Asset Management LP now owns 1,500,000 shares of the company’s stock worth $6,435,000 after buying an additional 979,058 shares during the last quarter. Finally, Bastion Asset Management Inc. bought a new stake in Peloton Interactive during the first quarter valued at approximately $7,020,000. 77.01% of the stock is 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.