Peloton Interactive (NASDAQ:PTON) Shares Down 4.2% After Insider Selling

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report)'s share price was down 4.2% on Tuesday after an insider sold shares in the company. The stock traded as low as $6.68 and last traded at $6.64. Approximately 797,809 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 15,324,472 shares. The stock had previously closed at $6.93.

Specifically, insider Nick V. Caldwell sold 63,925 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $6.99, for a total transaction of $446,835.75. Following the completion of the sale, the insider now owns 578,668 shares of the company's stock, valued at $4,044,889.32. This represents a 9.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Elizabeth F. Coddington sold 38,708 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $6.96, for a total transaction of $269,407.68. Following the sale, the chief financial officer now directly owns 294,342 shares of the company's stock, valued at $2,048,620.32. The trade was a 11.62% decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PTON shares. JMP Securities reissued a "market perform" rating on shares of Peloton Interactive in a research report on Monday, April 14th. Telsey Advisory Group decreased their price objective on shares of Peloton Interactive from $9.00 to $8.00 and set a "market perform" rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. decreased their price objective on shares of Peloton Interactive from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Morgan Stanley decreased their price objective on shares of Peloton Interactive from $5.75 to $4.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Finally, Truist Financial upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 price objective for the company in a report on Monday, April 28th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $8.30.

Peloton Interactive Trading Down 0.6%

The company's 50 day moving average is $6.65 and its 200-day moving average is $7.53. The company has a market capitalization of $2.41 billion, a P/E ratio of -14.05 and a beta of 2.15.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $624.00 million for the quarter, compared to the consensus estimate of $620.39 million. Peloton Interactive's quarterly revenue was down 13.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.45) EPS. Analysts predict that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Institutional Trading of Peloton Interactive

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Peloton Interactive by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 37,246,652 shares of the company's stock valued at $235,399,000 after purchasing an additional 2,186,862 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Peloton Interactive by 29.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 21,760,678 shares of the company's stock valued at $137,528,000 after purchasing an additional 4,940,422 shares during the last quarter. DME Capital Management LP grew its position in Peloton Interactive by 10.4% during the 4th quarter. DME Capital Management LP now owns 10,522,687 shares of the company's stock valued at $91,547,000 after purchasing an additional 992,797 shares during the last quarter. Geode Capital Management LLC grew its position in Peloton Interactive by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 8,270,328 shares of the company's stock valued at $71,969,000 after purchasing an additional 170,901 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in Peloton Interactive by 1.5% during the 4th quarter. Two Sigma Advisers LP now owns 7,551,800 shares of the company's stock valued at $65,701,000 after purchasing an additional 110,900 shares during the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

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.