Peloton Interactive (NASDAQ:PTON) Shares Gap Down to $3.91

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $3.91, but opened at $3.59. Peloton Interactive shares last traded at $3.46, with a volume of 20,145,521 shares traded.

Wall Street Analyst Weigh In

PTON has been the topic of a number of analyst reports. Telsey Advisory Group restated a "market perform" rating and set a $4.00 price objective (down previously from $5.00) on shares of Peloton Interactive in a research note on Monday, April 29th. Bank of America cut their price objective on shares of Peloton Interactive from $4.00 to $3.25 and set an "underperform" rating for the company in a research report on Monday, April 29th. Needham & Company LLC reissued a "hold" rating on shares of Peloton Interactive in a report on Friday, May 3rd. Roth Mkm decreased their price objective on shares of Peloton Interactive from $7.00 to $5.00 and set a "buy" rating on the stock in a research note on Friday, May 3rd. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Peloton Interactive in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.14.

Peloton Interactive Trading Down 16.4 %

The company has a market cap of $1.21 billion, a price-to-earnings ratio of -1.57 and a beta of 2.01. The firm's 50-day moving average price is $3.82 and its 200 day moving average price is $4.81.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.06). The business had revenue of $717.70 million for the quarter, compared to analysts' expectations of $720.85 million. During the same quarter last year, the company earned ($0.79) earnings per share. Peloton Interactive's revenue was down 4.2% on a year-over-year basis. Analysts forecast that Peloton Interactive, Inc. will post -1.62 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the company's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total value of $38,960.18. Following the completion of the transaction, the chief financial officer now owns 104,428 shares in the company, valued at approximately $453,217.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Peloton Interactive

Several large investors have recently modified their holdings of PTON. Jacobs Levy Equity Management Inc. purchased a new stake in Peloton Interactive during the first quarter valued at about $5,877,000. Evergreen Wealth Solutions LLC bought a new position in shares of Peloton Interactive in the first quarter worth $48,000. Sheaff Brock Investment Advisors LLC bought a new position in shares of Peloton Interactive in the first quarter worth $44,000. Vanguard Group Inc. raised its stake in shares of Peloton Interactive by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company's stock valued at $135,212,000 after purchasing an additional 1,215,397 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Peloton Interactive by 25,397.7% during the 1st quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company's stock worth $1,687,000 after purchasing an additional 392,141 shares in the last quarter. 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.