Peloton Interactive (NASDAQ:PTON) Shares Down 8.8% - Here's What Happened

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report) traded down 8.8% during mid-day trading on Wednesday . The stock traded as low as $9.56 and last traded at $9.64. 10,781,675 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 16,208,889 shares. The stock had previously closed at $10.57.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JMP Securities reiterated a "market perform" rating on shares of Peloton Interactive in a research report on Thursday, October 3rd. TD Cowen raised their price target 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. JPMorgan Chase & Co. raised their price target on shares of Peloton Interactive from $5.00 to $7.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Robert W. Baird raised their price target on shares of Peloton Interactive from $4.75 to $8.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Finally, Bank of America raised shares of Peloton Interactive from an "underperform" rating to a "buy" rating and raised their price target for the stock from $3.75 to $9.00 in a research note on Monday, November 4th. Sixteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Peloton Interactive has a consensus rating of "Hold" and a consensus price target of $6.97.

Peloton Interactive Stock Down 10.7 %

The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of -8.82 and a beta of 1.90. The business's 50-day simple moving average is $7.94 and its two-hundred day simple moving average is $5.33.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced its quarterly 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 business had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. During the same period in the previous year, the company posted ($0.44) EPS. Peloton Interactive's revenue was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that Peloton Interactive, Inc. will post -0.38 earnings per share for the current year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 186,462 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.58, for a total transaction of $1,413,381.96. Following the completion of the transaction, the chief financial officer now owns 223,017 shares in the company, valued at $1,690,468.86. The trade was a 45.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Saqib Baig sold 36,776 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $7.53, for a total transaction of $276,923.28. Following the transaction, the chief accounting officer now owns 137,357 shares of the company's stock, valued at $1,034,298.21. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 430,539 shares of company stock worth $3,260,596. Corporate insiders own 1.34% of the company's stock.

Institutional Trading of Peloton Interactive

Several institutional investors have recently modified their holdings of the stock. PDT Partners LLC lifted its position in shares of Peloton Interactive by 0.7% during the 3rd 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. raised its position 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. Signaturefd LLC raised its position in Peloton Interactive by 2.7% in the 2nd quarter. Signaturefd LLC now owns 113,645 shares of the company's stock valued at $384,000 after purchasing an additional 3,032 shares during the last quarter. Arizona State Retirement System raised its position in Peloton Interactive by 3.8% in the 2nd quarter. Arizona State Retirement System now owns 92,781 shares of the company's stock valued at $314,000 after purchasing an additional 3,377 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC raised its position in Peloton Interactive by 50.0% in the 3rd quarter. Kohmann Bosshard Financial Services LLC now owns 15,000 shares of the company's stock valued at $70,000 after purchasing an additional 5,000 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.

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