Peloton Interactive (NASDAQ:PTON) Stock Price Down 5.8% – Here’s What Happened

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) fell 5.8% during mid-day trading on Monday . The stock traded as low as $5.31 and last traded at $5.3050. 1,062,008 shares were traded during trading, a decline of 92% from the average session volume of 12,625,520 shares. The stock had previously closed at $5.63.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PTON shares. Weiss Ratings raised Peloton Interactive from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Telsey Advisory Group restated a “market perform” rating on shares of Peloton Interactive in a research note on Monday, August 3rd. Wall Street Zen raised Peloton Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. UBS Group reiterated a “buy” rating on shares of Peloton Interactive in a research note on Monday, June 15th. Finally, The Goldman Sachs Group raised their target price on shares of Peloton Interactive from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.94.

Peloton Interactive Stock Up 0.4%

The stock has a fifty day moving average of $5.91 and a 200-day moving average of $5.20. The stock has a market cap of $2.33 billion, a PE ratio of 44.25, a price-to-earnings-growth ratio of 0.36 and a beta of 2.52.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. Peloton Interactive had a negative return on equity of 23.92% and a net margin of 2.58%.The firm had revenue of $607.70 million during the quarter, compared to the consensus estimate of $596.60 million. During the same period in the prior year, the business earned $0.05 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Equities research analysts forecast that Peloton Interactive, Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

In related news, Director Karen Boone sold 25,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $5.35, for a total transaction of $133,750.00. Following the completion of the sale, the director directly owned 236,063 shares of the company’s stock, valued at $1,262,937.05. This trade represents a 9.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Saqib Baig sold 36,439 shares of Peloton Interactive stock in a transaction on Monday, August 17th. The shares were sold at an average price of $5.36, for a total transaction of $195,313.04. Following the completion of the transaction, the chief accounting officer owned 272,641 shares in the company, valued at approximately $1,461,355.76. This trade represents a 11.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 74,637 shares of company stock valued at $405,368 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vident Advisory LLC raised its stake in shares of Peloton Interactive by 1.1% during the second quarter. Vident Advisory LLC now owns 110,258 shares of the company’s stock valued at $765,000 after purchasing an additional 1,180 shares during the period. Cresset Asset Management LLC boosted its stake in shares of Peloton Interactive by 11.9% in the third quarter. Cresset Asset Management LLC now owns 12,748 shares of the company’s stock valued at $115,000 after purchasing an additional 1,354 shares during the period. Vise Technologies Inc. boosted its stake in shares of Peloton Interactive by 10.3% in the third quarter. Vise Technologies Inc. now owns 15,680 shares of the company’s stock valued at $141,000 after purchasing an additional 1,466 shares during the period. Principal Financial Group Inc. grew its holdings in Peloton Interactive by 10.2% during the 1st quarter. Principal Financial Group Inc. now owns 21,263 shares of the company’s stock valued at $91,000 after purchasing an additional 1,967 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Peloton Interactive by 21.8% during the 1st quarter. NewEdge Advisors LLC now owns 12,405 shares of the company’s stock worth $53,000 after buying an additional 2,223 shares during the period. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Peloton Interactive Company Profile

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.