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

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Bank of America decreased their price target on Peloton Interactive from $11.50 to $9.50 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. The Goldman Sachs Group lowered their price objective on shares of Peloton Interactive from $10.00 to $7.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Citigroup cut their target price on shares of Peloton Interactive from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their target price on shares of Peloton Interactive from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Macquarie raised shares of Peloton Interactive from a "neutral" rating to an "outperform" rating and raised their price target for the company from $9.00 to $10.00 in a research report on Tuesday, May 13th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Peloton Interactive currently has a consensus rating of "Hold" and a consensus target price of $8.30.

Peloton Interactive Stock Performance

The firm's 50-day moving average price is $6.35 and its two-hundred day moving average price is $7.71. The firm has a market cap of $2.85 billion, a PE ratio of -9.48 and a beta of 2.25.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last released its quarterly earnings data 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 business 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 in the previous year, the company earned ($0.45) EPS. As a group, sell-side analysts predict that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

In other news, insider Nick V. Caldwell sold 68,727 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.59, for a total value of $452,910.93. Following the completion of the sale, the insider now directly owns 474,234 shares of the company's stock, valued at approximately $3,125,202.06. This represents a 12.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elizabeth F. Coddington sold 38,151 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $6.83, for a total transaction of $260,571.33. Following the sale, the chief financial officer now owns 258,880 shares of the company's stock, valued at $1,768,150.40. This trade represents a 12.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 560,197 shares of company stock valued at $3,554,152 in the last three months. 1.34% of the stock is currently owned by company insiders.

Institutional Trading of Peloton Interactive

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTON. T. Rowe Price Investment Management Inc. grew its stake in shares of Peloton Interactive by 29.4% in 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. Nuveen LLC purchased a new position in Peloton Interactive in the 1st quarter valued at $23,239,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Peloton Interactive by 245.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,227,854 shares of the company's stock valued at $36,782,000 after buying an additional 3,004,757 shares during the last quarter. Voloridge Investment Management LLC increased its stake in Peloton Interactive by 1,438.9% in the 4th quarter. Voloridge Investment Management LLC now owns 3,109,054 shares of the company's stock valued at $27,049,000 after buying an additional 2,907,023 shares during the period. Finally, Vanguard Group Inc. raised 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 worth $235,399,000 after buying an additional 2,186,862 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.