Peloton Interactive (NASDAQ:PTON) Shares Down 4.6% on Analyst Downgrade

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) fell 4.6% during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $9.00 to $6.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Peloton Interactive traded as low as $4.44 and last traded at $4.4150. 2,808,068 shares traded hands during trading, a decline of 80% from the average session volume of 14,270,144 shares. The stock had previously closed at $4.63.

A number of other analysts also recently commented on the company. Macquarie Infrastructure boosted their target price on Peloton Interactive from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Truist Financial decreased their price objective on shares of Peloton Interactive from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday. Telsey Advisory Group lowered their price objective on shares of Peloton Interactive from $8.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday. Guggenheim assumed coverage on shares of Peloton Interactive in a research report on Wednesday, December 10th. They set a “neutral” rating for the company. Finally, Zacks Research upgraded shares of Peloton Interactive from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.26.

Insider Activity at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 238,014 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.18, for a total transaction of $1,708,940.52. Following the transaction, the chief financial officer directly owned 346,535 shares in the company, valued at $2,488,121.30. This represents a 40.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nick V. Caldwell sold 75,762 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $7.00, for a total transaction of $530,334.00. Following the completion of the sale, the insider owned 764,220 shares of the company’s stock, valued at approximately $5,349,540. The trade was a 9.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,107,129 shares of company stock worth $7,708,694. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

A number of institutional investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its holdings in shares of Peloton Interactive by 19.3% in the 4th quarter. Handelsbanken Fonder AB now owns 97,700 shares of the company’s stock worth $602,000 after purchasing an additional 15,800 shares during the period. ProShare Advisors LLC increased its position in Peloton Interactive by 7.5% during the 4th quarter. ProShare Advisors LLC now owns 88,689 shares of the company’s stock worth $546,000 after purchasing an additional 6,158 shares in the last quarter. Abacus Wealth Partners LLC purchased a new position in Peloton Interactive in the fourth quarter valued at approximately $111,000. DNB Asset Management AS raised its holdings in Peloton Interactive by 142.4% in the fourth quarter. DNB Asset Management AS now owns 10,776,627 shares of the company’s stock valued at $66,384,000 after buying an additional 6,331,510 shares during the period. Finally, NewEdge Wealth LLC acquired a new position in Peloton Interactive during the fourth quarter valued at approximately $1,087,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Peloton Interactive Stock Down 5.7%

The firm’s 50 day simple moving average is $6.19 and its 200-day simple moving average is $7.09. The company has a market capitalization of $1.82 billion, a PE ratio of -33.74, a P/E/G ratio of 0.82 and a beta of 2.41.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The company had revenue of $656.50 million for the quarter, compared to analysts’ expectations of $675.04 million. During the same period last year, the business posted ($0.24) earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

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.