Peloton Interactive (NASDAQ:PTON) Stock Price Down 5.3% - Time to Sell?

Shares of Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report) dropped 5.3% during mid-day trading on Wednesday . The company traded as low as $7.86 and last traded at $7.88. Approximately 3,261,356 shares changed hands during trading, a decline of 67% from the average daily volume of 9,985,887 shares. The stock had previously closed at $8.32.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PTON shares. Truist Financial raised their price objective on Peloton Interactive from $6.00 to $10.00 and gave the company a "hold" rating in a research note on Friday, November 1st. Macquarie raised their price target on Peloton Interactive from $4.90 to $9.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Bank of America raised Peloton Interactive from an "underperform" rating to a "buy" rating and lifted their price target for the stock from $3.75 to $9.00 in a research note on Monday, November 4th. Morgan Stanley increased their target price on Peloton Interactive from $3.50 to $5.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. Finally, UBS Group raised shares of Peloton Interactive from a "sell" rating to a "neutral" rating and raised their price target for the stock from $2.50 to $10.00 in a research note on Friday, December 6th. Sixteen analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $6.97.

Peloton Interactive Price Performance

The firm's fifty day moving average price is $9.12 and its 200-day moving average price is $6.51. The company has a market cap of $2.96 billion, a price-to-earnings ratio of -7.24 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $586.00 million during the quarter, compared to analysts' expectations of $572.97 million. Peloton Interactive's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.44) EPS. As a group, equities analysts forecast that Peloton Interactive, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In other news, insider Andrew S. Rendich sold 138,391 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the completion of the sale, the insider now owns 287,973 shares in the company, valued at approximately $2,162,677.23. This represents a 32.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Karen Boone sold 16,925 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $9.64, for a total value of $163,157.00. Following the completion of the transaction, the chief executive officer now owns 228,217 shares of the company's stock, valued at $2,200,011.88. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 395,813 shares of company stock valued at $3,041,724. Company insiders own 1.34% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gtcr LLC purchased a new position in shares of Peloton Interactive during the third quarter valued at $65,520,000. Hennessy Advisors Inc. purchased a new position in Peloton Interactive during the 4th quarter valued at about $85,260,000. Two Sigma Advisers LP lifted its position in shares of Peloton Interactive by 2.9% in the third quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company's stock worth $34,823,000 after purchasing an additional 206,500 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Peloton Interactive during the fourth quarter worth approximately $39,992,000. Finally, Charles Schwab Investment Management Inc. grew its position in Peloton Interactive by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,996,356 shares of the company's stock valued at $18,703,000 after purchasing an additional 291,946 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.

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.