Peloton Interactive (NASDAQ:PTON) Shares Down 5.3% - What's Next?

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report)'s share price dropped 5.3% during trading on Wednesday . The stock traded as low as $7.86 and last traded at $7.88. Approximately 3,261,356 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 9,985,887 shares. The stock had previously closed at $8.32.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PTON. JMP Securities reaffirmed a "market perform" rating on shares of Peloton Interactive in a report on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on Peloton Interactive from $5.00 to $7.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. UBS Group raised Peloton Interactive from a "sell" rating to a "neutral" rating and upped their target price for the company from $2.50 to $10.00 in a research note on Friday, December 6th. Telsey Advisory Group upped their target price on Peloton Interactive from $5.00 to $9.00 and gave the company a "market perform" rating in a research note on Friday, November 1st. Finally, Bank of America raised Peloton Interactive from an "underperform" rating to a "buy" rating and increased their price target for the stock from $3.75 to $9.00 in a research note on Monday, November 4th. Sixteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Peloton Interactive presently has an average rating of "Hold" and an average price target of $6.97.

Peloton Interactive Price Performance

The firm's 50-day moving average price is $9.18 and its 200 day moving average price is $6.44. The firm has a market cap of $3.06 billion, a P/E ratio of -7.54 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. The business's revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.44) earnings per share. Analysts forecast that Peloton Interactive, Inc. will post -0.39 earnings per share for the current year.

Insider Activity at Peloton Interactive

In related news, CEO Karen Boone sold 13,484 shares of Peloton Interactive stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.27, for a total transaction of $111,512.68. Following the sale, the chief executive officer now directly owns 211,459 shares in the company, valued at $1,748,765.93. The trade was a 5.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Saqib Baig sold 36,776 shares of Peloton Interactive stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.53, for a total transaction of $276,923.28. Following the sale, the chief accounting officer now owns 137,357 shares in the company, valued at approximately $1,034,298.21. This represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 422,821 shares of company stock worth $3,264,674 in the last ninety days. 1.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Peloton Interactive

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new stake in Peloton Interactive during the 2nd quarter worth about $1,616,000. Mercer Global Advisors Inc. ADV acquired a new stake in Peloton Interactive during the 2nd quarter worth about $27,000. Cubist Systematic Strategies LLC raised its holdings in Peloton Interactive by 99.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 56,208 shares of the company's stock worth $190,000 after buying an additional 28,070 shares during the period. AQR Capital Management LLC raised its holdings in Peloton Interactive by 689.6% during the 2nd quarter. AQR Capital Management LLC now owns 123,736 shares of the company's stock worth $418,000 after buying an additional 108,065 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Peloton Interactive by 253.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company's stock worth $614,000 after buying an additional 130,242 shares during the period. 77.01% of the stock is currently owned by institutional investors.

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.

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