Peloton Interactive (NASDAQ:PTON) Shares Down 4.2% - What's Next?

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report) shares fell 4.2% during mid-day trading on Tuesday . The stock traded as low as $6.68 and last traded at $6.64. 797,809 shares were traded during mid-day trading, a decline of 95% from the average session volume of 15,324,472 shares. The stock had previously closed at $6.93.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PTON. JPMorgan Chase & Co. reduced their price target on shares of Peloton Interactive from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Telsey Advisory Group reduced their price target 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. Needham & Company LLC reissued a "hold" rating on shares of Peloton Interactive in a report on Friday, May 9th. Macquarie raised Peloton Interactive from a "neutral" rating to an "outperform" rating and increased their price target for the company from $9.00 to $10.00 in a research note on Tuesday, May 13th. Finally, Bank of America dropped their price target on shares of Peloton Interactive from $11.50 to $9.50 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Peloton Interactive presently has a consensus rating of "Hold" and an average target price of $8.30.

Peloton Interactive Stock Performance

The company has a 50-day moving average of $6.61 and a 200 day moving average of $7.59. The firm has a market cap of $2.44 billion, a P/E ratio of -8.14 and a beta of 2.15.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced 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 analysts' expectations of $620.39 million. The firm's revenue was down 13.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.45) earnings per share. Sell-side analysts anticipate that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 185,661 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.29, for a total value of $1,167,807.69. Following the completion of the transaction, the chief financial officer now owns 311,231 shares in the company, valued at $1,957,642.99. The trade was a 37.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jennifer Cunningham Cotter sold 145,622 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.25, for a total value of $910,137.50. Following the completion of the transaction, the insider now owns 235,439 shares in the company, valued at $1,471,493.75. The trade was a 38.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 453,319 shares of company stock worth $2,840,670. 1.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Peloton Interactive

Several institutional investors have recently modified their holdings of PTON. Y Intercept Hong Kong Ltd acquired a new stake in Peloton Interactive during the 4th quarter worth $360,000. Rhumbline Advisers grew its stake in shares of Peloton Interactive by 7.8% during the fourth quarter. Rhumbline Advisers now owns 479,134 shares of the company's stock worth $4,168,000 after purchasing an additional 34,514 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Peloton Interactive by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 284,060 shares of the company's stock valued at $2,471,000 after purchasing an additional 11,008 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Peloton Interactive by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,136,182 shares of the company's stock valued at $35,985,000 after buying an additional 139,826 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Peloton Interactive during the 4th quarter worth about $1,158,000. Institutional investors and hedge funds own 77.01% of the company's stock.

Peloton Interactive Company Profile

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.

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