Peloton Interactive (NASDAQ:PTON) Trading Down 6.7% – Time to Sell?

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) were down 6.7% during 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.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PTON shares. Macquarie boosted their price objective on shares of Peloton Interactive from $4.90 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Telsey Advisory Group boosted 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. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a research report on Thursday, October 3rd. Truist Financial lifted their price objective on shares of Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Sanford C. Bernstein raised their price objective on Peloton Interactive from $4.25 to $6.50 and gave the company a “market perform” rating in a 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.97.

Peloton Interactive Trading Down 8.6 %

The firm has a market cap of $3.58 billion, a price-to-earnings ratio of -8.78 and a beta of 1.90. The company’s 50-day moving average is $8.62 and its 200-day moving average is $5.64.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) EPS 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 analyst estimates of $572.97 million. Peloton Interactive’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.44) earnings per share. Equities research analysts forecast that Peloton Interactive, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling

In related news, CEO Karen Boone sold 13,484 shares of Peloton Interactive stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $8.27, for a total value of $111,512.68. Following the transaction, the chief executive officer now directly owns 211,459 shares of the company’s stock, valued at $1,748,765.93. The trade was a 5.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew S. Rendich sold 138,391 shares of Peloton Interactive stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the transaction, the insider now directly owns 287,973 shares of the company’s stock, valued at $2,162,677.23. This represents a 32.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 430,539 shares of company stock worth $3,260,596 in the last 90 days. Insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

Several large investors have recently modified their holdings of the stock. Gtcr LLC acquired a new position in shares of Peloton Interactive during the third quarter valued at about $65,520,000. DME Capital Management LP bought a new stake in shares of Peloton Interactive during the second quarter valued at approximately $22,947,000. Clearline Capital LP acquired a new position in shares of Peloton Interactive during the second quarter worth approximately $7,527,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Peloton Interactive in the 3rd quarter worth $8,363,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Peloton Interactive during the 3rd quarter valued at $5,724,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

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.