Peloton Interactive (NASDAQ:PTON) Stock Price Down 5.8% – Here’s Why

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price dropped 5.8% during mid-day trading on Friday . The company traded as low as $9.65 and last traded at $9.56. Approximately 4,332,709 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 14,022,170 shares. The stock had previously closed at $10.15.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group upped their price objective on Peloton Interactive from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday. Sanford C. Bernstein increased their price target on shares of Peloton Interactive from $4.25 to $6.50 and gave the company a “market perform” rating in a research report on Friday, November 1st. Robert W. Baird lifted their price objective on shares of Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Macquarie reissued a “neutral” rating and set a $9.00 target price on shares of Peloton Interactive in a research report on Monday. Finally, Truist Financial raised their target price on shares of Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Sixteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.38.

Peloton Interactive Stock Down 6.8 %

The company has a market capitalization of $3.61 billion, a PE ratio of -12.29 and a beta of 1.95. The firm has a 50-day moving average of $8.88 and a two-hundred day moving average of $6.79.

Peloton Interactive (NASDAQ:PTON) last posted its earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). Equities analysts predict that Peloton Interactive, Inc. will post -0.39 EPS for the current fiscal year.

Insider Transactions at Peloton Interactive

In related news, Director Karen Boone sold 17,259 shares of Peloton Interactive stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.63, for a total value of $148,945.17. Following the sale, the director now owns 244,641 shares of the company’s stock, valued at approximately $2,111,251.83. This trade represents a 6.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew S. Rendich sold 138,391 shares of the company’s 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 transaction, the insider now owns 287,973 shares of the company’s stock, valued at $2,162,677.23. This represents a 32.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 395,813 shares of company stock valued at $3,041,724 in the last ninety days. 1.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in the company. RBF Capital LLC acquired a new position in Peloton Interactive in the 4th quarter valued at $174,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of Peloton Interactive by 38.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 16,820,256 shares of the company’s stock worth $146,337,000 after buying an additional 4,635,667 shares in the last quarter. Dark Forest Capital Management LP raised its position in shares of Peloton Interactive by 61.3% in the fourth quarter. Dark Forest Capital Management LP now owns 44,999 shares of the company’s stock valued at $391,000 after buying an additional 17,101 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Peloton Interactive by 72.7% in the fourth quarter. Stifel Financial Corp now owns 66,930 shares of the company’s stock worth $582,000 after buying an additional 28,181 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in Peloton Interactive by 279.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 48,705 shares of the company’s stock worth $424,000 after acquiring an additional 35,867 shares during the last quarter. Hedge funds and other institutional investors 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.