Peloton Interactive (NASDAQ:PTON) Trading Down 4.6% – What’s Next?

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price traded down 4.6% during trading on Monday . The company traded as low as $7.39 and last traded at $7.39. 1,465,961 shares traded hands during trading, a decline of 91% from the average session volume of 16,395,469 shares. The stock had previously closed at $7.75.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Roth Mkm upped their price objective on Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets lifted their target price on Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a research note on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research note on Friday, November 1st. Finally, Telsey Advisory Group lifted their price objective on Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Peloton Interactive currently has an average rating of “Hold” and an average price target of $6.75.

Peloton Interactive Price Performance

The stock has a market cap of $2.90 billion, a P/E ratio of -7.24 and a beta of 1.93. The stock’s 50 day simple moving average is $5.80 and its two-hundred day simple moving average is $4.42.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The company had revenue of $586.00 million for the quarter, compared to analysts’ expectations of $572.97 million. During the same period in the previous year, the firm posted ($0.44) earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, analysts forecast that Peloton Interactive, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, insider Nick V. Caldwell acquired 31,337 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $4.25 per share, for a total transaction of $133,182.25. Following the completion of the acquisition, the insider now directly owns 31,337 shares of the company’s stock, valued at approximately $133,182.25. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chris Bruzzo sold 13,524 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $8.24, for a total transaction of $111,437.76. Following the transaction, the director now owns 167,362 shares of the company’s stock, valued at $1,379,062.88. The trade was a 7.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 194,888 shares of company stock valued at $1,038,717. 1.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PTON. PDT Partners LLC increased its holdings in Peloton Interactive by 0.7% during the third quarter. PDT Partners LLC now owns 205,573 shares of the company’s stock worth $962,000 after buying an additional 1,373 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Peloton Interactive by 31.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after purchasing an additional 1,597 shares during the last quarter. Abundance Wealth Counselors grew its holdings in Peloton Interactive by 24.7% during the second quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock worth $45,000 after purchasing an additional 2,654 shares during the period. Signaturefd LLC boosted its stake in shares of Peloton Interactive by 2.7% during the 2nd quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock worth $384,000 after acquiring an additional 3,032 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of Peloton Interactive by 3.8% during the 2nd quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock worth $314,000 after acquiring an additional 3,377 shares during the last quarter. 77.01% of the stock is currently owned by 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.