Peloton Interactive (NASDAQ:PTON) Stock Price Down 3.2%

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) traded down 3.2% during mid-day trading on Tuesday . The company traded as low as $4.56 and last traded at $4.57. 1,428,853 shares changed hands during trading, a decline of 91% from the average session volume of 15,926,431 shares. The stock had previously closed at $4.72.

Analyst Upgrades and Downgrades

PTON has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research report on Thursday, August 22nd. Sanford C. Bernstein upped their price target on shares of Peloton Interactive from $3.80 to $4.25 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Morgan Stanley lifted their price objective on shares of Peloton Interactive from $2.50 to $3.50 and gave the company an “equal weight” rating in a report on Friday, August 23rd. TD Cowen raised their target price on shares of Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. downgraded shares of Peloton Interactive from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $7.00 to $5.00 in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Peloton Interactive has an average rating of “Hold” and an average target price of $4.57.

Peloton Interactive Trading Down 2.5 %

The stock has a market cap of $1.73 billion, a PE ratio of -2.24 and a beta of 2.04. The business’s 50-day moving average price is $3.82 and its 200-day moving average price is $3.78.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, August 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.10. The business had revenue of $644.00 million for the quarter, compared to analyst estimates of $633.00 million. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.68) earnings per share. As a group, analysts predict that Peloton Interactive, Inc. will post -0.65 earnings per share for the current year.

Insider Activity

In related news, insider Nick V. Caldwell bought 31,337 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $4.25 per share, with a total value of $133,182.25. Following the transaction, the insider now owns 31,337 shares in the company, valued at $133,182.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Nick V. Caldwell purchased 31,337 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $4.25 per share, for a total transaction of $133,182.25. Following the purchase, the insider now owns 31,337 shares in the company, valued at $133,182.25. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Chris Bruzzo sold 15,113 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was 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 of the company’s stock, valued at $333,220.86. The disclosure for this sale can be found here. Insiders have sold a total of 136,038 shares of company stock worth $597,188 over the last 90 days. 3.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Peloton Interactive

Large investors have recently made changes to their positions in the business. Abundance Wealth Counselors lifted its position in Peloton Interactive by 24.7% during the second quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock valued at $45,000 after purchasing an additional 2,654 shares during the period. Signaturefd LLC boosted its stake in shares of Peloton Interactive by 2.7% in the second quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock worth $384,000 after buying an additional 3,032 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Peloton Interactive by 3.8% in the second quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock worth $314,000 after buying an additional 3,377 shares during the last quarter. Private Advisor Group LLC raised its position in Peloton Interactive by 11.5% during the fourth quarter. Private Advisor Group LLC now owns 37,373 shares of the company’s stock valued at $228,000 after acquiring an additional 3,855 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Peloton Interactive by 4.3% in the second quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company’s stock valued at $452,000 after acquiring an additional 5,463 shares during the period. 77.01% of the stock is owned by hedge funds and other institutional investors.

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.