Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report)'s stock price dropped 6.7% during mid-day trading on Friday . The company traded as low as $9.56 and last traded at $9.58. Approximately 3,018,891 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 16,048,078 shares. The stock had previously closed at $10.27.
Wall Street Analysts Forecast Growth
PTON has been the subject of several research analyst reports. BMO Capital Markets boosted their price objective on shares of Peloton Interactive from $6.50 to $8.50 and gave the company a "market perform" rating in a research report on Monday, November 4th. Telsey Advisory Group lifted their target price on Peloton Interactive from $5.00 to $9.00 and gave the company a "market perform" rating in a research report on Friday, November 1st. Needham & Company LLC reissued a "hold" rating on shares of Peloton Interactive in a report on Friday, November 1st. Sanford C. Bernstein raised 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 note on Friday, November 1st. Finally, Robert W. Baird upped 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. Sixteen 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.com, the stock presently has an average rating of "Hold" and an average price target of $6.97.
View Our Latest Report on PTON
Peloton Interactive Stock Down 8.6 %
The firm has a 50 day moving average price of $8.62 and a two-hundred day moving average price of $5.63. The company has a market cap of $3.58 billion, a price-to-earnings ratio of -8.78 and a beta of 1.90.
Peloton Interactive (NASDAQ:PTON - Get Free Report) last released 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 business had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. The business's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.44) earnings per share. On average, equities analysts expect that Peloton Interactive, Inc. will post -0.38 earnings per share for the current year.
Insider Buying and Selling
In other Peloton Interactive news, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $5.80, for a total transaction of $144,866.60. Following the completion of the sale, the chief executive officer now directly owns 149,240 shares in the company, valued at approximately $865,592. This trade represents a 14.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew S. Rendich sold 138,391 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.51, for a total value of $1,039,316.41. Following the completion of the transaction, the insider now directly owns 287,973 shares in the company, 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 sold 430,539 shares of company stock valued at $3,260,596 over the last quarter. Insiders own 1.34% of the company's stock.
Hedge Funds Weigh In On Peloton Interactive
Institutional investors and hedge funds have recently modified their holdings of the business. Gtcr LLC acquired a new position in shares of Peloton Interactive during the 3rd quarter valued at $65,520,000. DME Capital Management LP bought a new stake in Peloton Interactive in the second quarter valued at $22,947,000. Clearline Capital LP acquired a new position in shares of Peloton Interactive during the second quarter valued at about $7,527,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Peloton Interactive during the 3rd quarter worth about $8,363,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Peloton Interactive in the 3rd quarter valued at about $5,724,000. 77.01% of the stock is currently owned by institutional investors.
Peloton Interactive Company Profile
(
Get Free Report)
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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