Peloton Interactive (NASDAQ:PTON) Trading Down 4.4% on Analyst Downgrade

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price traded down 4.4% on Friday after The Goldman Sachs Group lowered their price target on the stock from $7.00 to $6.00. The Goldman Sachs Group currently has a neutral rating on the stock. Peloton Interactive traded as low as $5.17 and last traded at $5.19. 6,049,044 shares were traded during trading, a decline of 47% from the average session volume of 11,443,789 shares. The stock had previously closed at $5.43.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. decreased their price objective on Peloton Interactive from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, October 19th. Evercore ISI dropped their price target on Peloton Interactive from $7.00 to $6.00 and set an “in-line” rating on the stock in a research note on Thursday, October 5th. Truist Financial dropped their price target on Peloton Interactive from $10.00 to $7.00 and set a “hold” rating on the stock in a research note on Friday, September 1st. Robert W. Baird dropped their target price on Peloton Interactive from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 24th. Finally, Wedbush reiterated an “outperform” rating on shares of Peloton Interactive in a research report on Monday, September 25th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Peloton Interactive presently has an average rating of “Hold” and an average target price of $9.89.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, insider Thomas Cortese sold 14,135 shares of the company’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $6.98, for a total value of $98,662.30. Following the completion of the sale, the insider now directly owns 14,251 shares in the company, valued at approximately $99,471.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Elizabeth F. Coddington sold 10,215 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $5.12, for a total transaction of $52,300.80. Following the completion of the transaction, the chief financial officer now directly owns 32,441 shares in the company, valued at approximately $166,097.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas Cortese sold 14,135 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $6.98, for a total value of $98,662.30. Following the transaction, the insider now owns 14,251 shares of the company’s stock, valued at $99,471.98. The disclosure for this sale can be found here. 2.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

Hedge funds have recently modified their holdings of the business. Slate Path Capital LP grew its holdings in shares of Peloton Interactive by 23.0% during the 1st quarter. Slate Path Capital LP now owns 1,980,000 shares of the company’s stock worth $22,453,000 after purchasing an additional 370,000 shares during the period. Commerce Bank boosted its holdings in Peloton Interactive by 3.2% during the 1st quarter. Commerce Bank now owns 47,163 shares of the company’s stock valued at $535,000 after acquiring an additional 1,452 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Peloton Interactive by 37.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 252,172 shares of the company’s stock valued at $2,860,000 after acquiring an additional 68,611 shares during the period. DnB Asset Management AS boosted its holdings in Peloton Interactive by 220.6% during the 2nd quarter. DnB Asset Management AS now owns 1,267,953 shares of the company’s stock valued at $9,751,000 after acquiring an additional 872,502 shares during the period. Finally, Manchester Capital Management LLC boosted its holdings in Peloton Interactive by 38.8% during the 1st quarter. Manchester Capital Management LLC now owns 49,842 shares of the company’s stock valued at $565,000 after acquiring an additional 13,939 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Peloton Interactive Trading Down 4.1 %

The business has a fifty day moving average of $5.18 and a 200 day moving average of $7.12. The company has a market capitalization of $1.86 billion, a PE ratio of -1.43 and a beta of 2.03.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Wednesday, August 23rd. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.28). Peloton Interactive had a negative net margin of 45.05% and a negative return on equity of 686.29%. The firm had revenue of $642.10 million for the quarter, compared to analysts’ expectations of $641.02 million. During the same quarter last year, the business earned ($1.32) earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. Equities analysts forecast that Peloton Interactive, Inc. will post -1.34 EPS for the current fiscal year.

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.