Peloton Interactive (NASDAQ:PTON) Sets New 12-Month Low at $2.94

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price reached a new 52-week low on Monday . The stock traded as low as $2.94 and last traded at $2.95, with a volume of 3736156 shares traded. The stock had previously closed at $3.03.

Analyst Ratings Changes

Several research firms have recently weighed in on PTON. JPMorgan Chase & Co. decreased their price target on shares of Peloton Interactive from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. The Goldman Sachs Group reduced their target price on Peloton Interactive from $6.50 to $5.75 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Telsey Advisory Group reduced their target price on Peloton Interactive from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Friday, February 2nd. Truist Financial reduced their target price on Peloton Interactive from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, February 2nd. Finally, Morgan Stanley assumed coverage on Peloton Interactive in a research note on Monday, March 11th. They issued an “equal weight” rating and a $3.00 target price on the stock. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.50.

Peloton Interactive Stock Up 2.6 %

The firm’s 50-day simple moving average is $4.13 and its 200-day simple moving average is $4.98. The firm has a market capitalization of $1.15 billion, a PE ratio of -1.28 and a beta of 1.96.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, February 1st. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.01. The business had revenue of $743.60 million for the quarter, compared to analysts’ expectations of $733.17 million. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.98) earnings per share. On average, equities research analysts forecast that Peloton Interactive, Inc. will post -1.6 earnings per share for the current year.

Insider Transactions at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.34, for a total transaction of $38,960.18. Following the completion of the sale, the chief financial officer now directly owns 104,428 shares in the company, valued at $453,217.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.34, for a total transaction of $38,960.18. Following the completion of the sale, the chief financial officer now directly owns 104,428 shares in the company, valued at $453,217.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Karen Boone sold 50,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $4.33, for a total transaction of $216,500.00. Following the sale, the director now owns 34,966 shares of the company’s stock, valued at $151,402.78. The disclosure for this sale can be found here. 3.28% of the stock is currently owned by company insiders.

Institutional Trading of Peloton Interactive

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Peloton Interactive by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 30,339,435 shares of the company’s stock worth $184,767,000 after buying an additional 735,658 shares during the period. Capital World Investors lifted its holdings in Peloton Interactive by 17.6% in the fourth quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock worth $159,919,000 after buying an additional 3,925,000 shares during the period. DNB Asset Management AS lifted its holdings in Peloton Interactive by 31.7% in the fourth quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock worth $51,076,000 after buying an additional 2,020,159 shares during the period. Patient Capital Management LLC lifted its holdings in Peloton Interactive by 32.7% in the fourth quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock worth $37,735,000 after buying an additional 1,527,471 shares during the period. Finally, Norges Bank purchased a new stake in Peloton Interactive in the fourth quarter worth about $20,824,000. 77.01% of the stock is currently 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.