Peloton Interactive (NASDAQ:PTON) Shares Down 8.2% – Time to Sell?

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) traded down 8.2% on Friday . The stock traded as low as $6.24 and last traded at $6.22. 8,837,424 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 16,003,890 shares. The stock had previously closed at $6.77.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Macquarie reiterated a “neutral” rating and issued a $9.00 price objective on shares of Peloton Interactive in a research report on Monday, February 10th. Argus upgraded Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Tuesday, February 11th. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a report on Thursday, February 6th. The Goldman Sachs Group raised their target price on shares of Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, UBS Group raised shares of Peloton Interactive from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $2.50 to $10.00 in a research note on Friday, December 6th. Fifteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.69.

Peloton Interactive Trading Down 6.9 %

The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -8.18 and a beta of 1.95. The company has a 50 day simple moving average of $7.77 and a 200-day simple moving average of $7.54.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). Equities analysts forecast that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jennifer Cunningham Cotter sold 187,238 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was 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 directly owns 100,269 shares of the company’s stock, valued at approximately $646,735.05. This represents 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 this hyperlink. Also, insider Nick V. Caldwell sold 68,727 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $6.59, for a total value of $452,910.93. Following the transaction, the insider now directly owns 474,234 shares in the company, valued at $3,125,202.06. This trade represents a 12.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 691,597 shares of company stock worth $5,671,783. 1.34% of the stock is owned by insiders.

Institutional Trading of Peloton Interactive

A number of large investors have recently added to or reduced their stakes in PTON. Two Sigma Advisers LP raised its holdings in shares of Peloton Interactive by 2.9% in the 3rd quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock valued at $34,823,000 after purchasing an additional 206,500 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Peloton Interactive in the fourth quarter valued at approximately $360,000. Rhumbline Advisers boosted its stake in shares of Peloton Interactive by 7.8% during the 4th quarter. Rhumbline Advisers now owns 479,134 shares of the company’s stock worth $4,168,000 after acquiring an additional 34,514 shares during the period. Franklin Resources Inc. acquired a new position in shares of Peloton Interactive during the 3rd quarter worth approximately $505,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Peloton Interactive by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,136,182 shares of the company’s stock valued at $35,985,000 after acquiring an additional 139,826 shares during the period. 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.