Peloton Interactive (NASDAQ:PTON) Stock Price Down 6.6%

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report) shares dropped 6.6% on Friday . The stock traded as low as $4.12 and last traded at $4.12. Approximately 5,806,040 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 14,964,860 shares. The stock had previously closed at $4.41.

Analyst Ratings Changes

Several analysts have recently issued reports on PTON shares. The Goldman Sachs Group lowered their price target on shares of Peloton Interactive from $6.50 to $5.75 and set a "neutral" rating on the stock in a research report on Friday, February 2nd. Morgan Stanley began coverage on Peloton Interactive in a research report on Monday, March 11th. They issued an "equal weight" rating and a $3.00 price target for the company. Telsey Advisory Group cut their target price on Peloton Interactive from $6.00 to $5.00 and set a "market perform" rating for the company in a research note on Friday, February 2nd. JPMorgan Chase & Co. decreased their price target on Peloton Interactive from $9.00 to $8.00 and set an "overweight" rating on the stock in a research report on Friday, February 2nd. Finally, Truist Financial cut their price objective on shares of Peloton Interactive from $7.00 to $6.00 and set a "hold" rating for the company in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $7.50.

Peloton Interactive Stock Performance

The business has a 50-day simple moving average of $4.83 and a 200 day simple moving average of $5.21. The firm has a market cap of $1.54 billion, a P/E ratio of -1.68 and a beta of 1.97.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The company reported ($0.54) EPS for the quarter, topping analysts' consensus estimates of ($0.55) by $0.01. The business had revenue of $743.60 million during the quarter, compared to analysts' expectations of $733.17 million. During the same period in the previous year, the business earned ($0.98) EPS. The business's revenue was down 6.2% compared to the same quarter last year. On average, research analysts expect that Peloton Interactive, Inc. will post -1.57 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the company's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.34, for a total value of $38,960.18. Following the sale, the chief financial officer now owns 104,428 shares in the company, valued at $453,217.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Elizabeth F. Coddington sold 8,977 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 104,428 shares of the company's stock, valued at approximately $453,217.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen Boone sold 50,000 shares of the business's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $4.33, for a total value of $216,500.00. Following the completion of the transaction, the director now owns 34,966 shares of the company's stock, valued at approximately $151,402.78. The disclosure for this sale can be found here. Insiders own 3.28% of the company's stock.

Institutional Investors Weigh In On Peloton Interactive

Large investors have recently added to or reduced their stakes in the stock. Covestor Ltd boosted its stake in shares of Peloton Interactive by 1,054.2% in the 1st quarter. Covestor Ltd now owns 1,385 shares of the company's stock worth $37,000 after buying an additional 1,265 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in Peloton Interactive in the fourth quarter worth about $39,000. American International Group Inc. grew its stake in shares of Peloton Interactive by 84.8% during the 2nd quarter. American International Group Inc. now owns 5,730 shares of the company's stock valued at $44,000 after purchasing an additional 2,629 shares during the period. KBC Group NV purchased a new stake in shares of Peloton Interactive during the 4th quarter valued at about $45,000. Finally, Rakuten Securities Inc. bought a new position in shares of Peloton Interactive in the 4th quarter worth approximately $47,000. Institutional investors own 79.96% 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.