Peloton Interactive (NASDAQ:PTON) Stock Price Down 4.7% After Earnings Miss

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) fell 4.7% during trading on Friday following a dissappointing earnings announcement. The company traded as low as $8.06 and last traded at $8.10. 13,762,928 shares were traded during trading, a decline of 14% from the average session volume of 16,079,771 shares. The stock had previously closed at $8.50.

The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $586.00 million for the quarter, compared to the consensus estimate of $572.97 million. During the same quarter in the previous year, the company earned ($0.44) EPS. The business’s revenue was down 1.6% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PTON. TD Cowen lifted their target price on Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Roth Mkm boosted their target price on Peloton Interactive from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Canaccord Genuity Group increased their price target on Peloton Interactive from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Macquarie upped their price objective on Peloton Interactive from $4.90 to $9.00 and gave the company a “neutral” rating in a research report on Friday. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $6.50 target price on shares of Peloton Interactive in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Peloton Interactive has an average rating of “Hold” and an average target price of $5.98.

Insider Transactions at Peloton Interactive

In related news, CAO Saqib Baig sold 50,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $4.88, for a total transaction of $244,000.00. Following the transaction, the chief accounting officer now directly owns 87,014 shares in the company, valued at $424,628.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Nick V. Caldwell acquired 31,337 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $4.25 per share, with a total value of $133,182.25. Following the transaction, the insider now directly owns 31,337 shares of the company’s stock, valued at $133,182.25. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Saqib Baig sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $4.88, for a total transaction of $244,000.00. Following the sale, the chief accounting officer now directly owns 87,014 shares in the company, valued at approximately $424,628.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,880 shares of company stock valued at $815,767. Corporate insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Several institutional investors and hedge funds have recently made changes to their positions in PTON. Verdence Capital Advisors LLC purchased a new position in Peloton Interactive in the 3rd quarter worth $52,000. Ballentine Partners LLC purchased a new position in shares of Peloton Interactive in the third quarter worth about $55,000. Kohmann Bosshard Financial Services LLC lifted its holdings in shares of Peloton Interactive by 50.0% during the third quarter. Kohmann Bosshard Financial Services LLC now owns 15,000 shares of the company’s stock worth $70,000 after purchasing an additional 5,000 shares during the period. nVerses Capital LLC lifted its holdings in shares of Peloton Interactive by 57.1% during the third quarter. nVerses Capital LLC now owns 30,000 shares of the company’s stock worth $140,000 after purchasing an additional 10,900 shares during the period. Finally, Wedmont Private Capital purchased a new stake in Peloton Interactive in the third quarter valued at approximately $77,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Peloton Interactive Trading Down 14.7 %

The business’s 50-day simple moving average is $5.11 and its 200-day simple moving average is $4.06. The company has a market capitalization of $2.73 billion, a PE ratio of -4.80 and a beta of 2.04.

About Peloton Interactive

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.