Peloton Interactive (NASDAQ:PTON) Shares Down 5% - What's Next?

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report) shares fell 5% on Monday . The company traded as low as $6.72 and last traded at $6.74. 2,256,815 shares were traded during mid-day trading, a decline of 85% from the average session volume of 15,146,516 shares. The stock had previously closed at $7.10.

Analyst Ratings Changes

Several research firms have recently commented on PTON. Deutsche Bank Aktiengesellschaft raised shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $6.60 price target on the stock in a research report on Monday, April 14th. Bank of America decreased their price objective on Peloton Interactive from $11.50 to $9.50 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Truist Financial upgraded Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 price objective on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. decreased their price objective on Peloton Interactive from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Peloton Interactive in a report on Friday, May 9th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $8.30.

Peloton Interactive Stock Up 12.2%

The business has a 50-day moving average price of $6.33 and a two-hundred day moving average price of $7.72. The firm has a market cap of $2.91 billion, a PE ratio of -9.70 and a beta of 2.25.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). The firm had revenue of $624.00 million during the quarter, compared to analyst estimates of $620.39 million. During the same quarter in the prior year, the company earned ($0.45) earnings per share. The company's revenue for the quarter was down 13.1% on a year-over-year basis. On average, equities research analysts predict that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Transactions at Peloton Interactive

In related news, insider Jennifer Cunningham Cotter sold 187,238 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $6.45, for a total transaction of $1,207,685.10. Following the completion of the transaction, the insider now owns 100,269 shares in the company, valued at approximately $646,735.05. The trade was a 65.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Elizabeth F. Coddington sold 185,661 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.29, for a total transaction of $1,167,807.69. Following the transaction, the chief financial officer now owns 311,231 shares of the company's stock, valued at approximately $1,957,642.99. The trade was a 37.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 747,435 shares of company stock valued at $4,761,838. 1.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors and hedge funds have recently modified their holdings of PTON. T. Rowe Price Investment Management Inc. grew its stake in shares of Peloton Interactive by 29.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 21,760,678 shares of the company's stock worth $137,528,000 after purchasing an additional 4,940,422 shares in the last quarter. Nuveen LLC acquired a new position in shares of Peloton Interactive during the first quarter worth $23,239,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Peloton Interactive by 245.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,227,854 shares of the company's stock valued at $36,782,000 after acquiring an additional 3,004,757 shares in the last quarter. Voloridge Investment Management LLC boosted its stake in Peloton Interactive by 1,438.9% in the fourth quarter. Voloridge Investment Management LLC now owns 3,109,054 shares of the company's stock valued at $27,049,000 after acquiring an additional 2,907,023 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Peloton Interactive by 6.2% in the first quarter. Vanguard Group Inc. now owns 37,246,652 shares of the company's stock valued at $235,399,000 after acquiring an additional 2,186,862 shares in the last quarter. 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.