Peloton Interactive (NASDAQ:PTON) Shares Down 6.4%

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) were down 6.4% on Tuesday . The company traded as low as $4.36 and last traded at $4.38. Approximately 3,610,976 shares changed hands during trading, a decline of 77% from the average daily volume of 15,697,877 shares. The stock had previously closed at $4.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. BMO Capital Markets reiterated a “market perform” rating and issued a $6.50 target price on shares of Peloton Interactive in a research report on Tuesday. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a research note on Tuesday, July 2nd. TD Cowen boosted their price target on Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a report on Thursday, August 22nd. Finally, Telsey Advisory Group increased their target price on Peloton Interactive from $4.00 to $5.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.60.

Peloton Interactive Stock Performance

The firm has a market capitalization of $1.65 billion, a PE ratio of -2.07 and a beta of 2.04. The firm has a fifty day moving average of $4.05 and a 200 day moving average of $3.80.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, August 22nd. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.10. The company had revenue of $644.00 million for the quarter, compared to analysts’ expectations of $633.00 million. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.68) earnings per share. Research analysts forecast that Peloton Interactive, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In other news, CEO Chris Bruzzo sold 15,113 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $3.42, for a total value of $51,686.46. Following the sale, the chief executive officer now owns 97,433 shares of the company’s stock, valued at approximately $333,220.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Peloton Interactive news, CAO Saqib Baig sold 50,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $4.88, for a total value of $244,000.00. Following the transaction, the chief accounting officer now owns 87,014 shares in the company, valued at $424,628.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chris Bruzzo sold 15,113 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $3.42, for a total value of $51,686.46. Following the completion of the transaction, the chief executive officer now owns 97,433 shares in the company, valued at approximately $333,220.86. The disclosure for this sale can be found here. Insiders have sold 158,016 shares of company stock valued at $722,587 in the last quarter. Corporate insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several large investors have recently made changes to their positions in the business. DME Capital Management LP acquired a new position in Peloton Interactive in the 2nd quarter valued at approximately $22,947,000. Capital World Investors grew its position in Peloton Interactive by 17.6% during the 4th quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock worth $159,919,000 after acquiring an additional 3,925,000 shares during the last quarter. DNB Asset Management AS grew its position in Peloton Interactive by 42.4% during the 2nd quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after acquiring an additional 3,611,069 shares during the last quarter. Norges Bank acquired a new position in Peloton Interactive during the 4th quarter worth $20,824,000. Finally, Clearline Capital LP acquired a new position in Peloton Interactive during the 2nd quarter worth $7,527,000. 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.