Peloton Interactive (NASDAQ:PTON) Stock Price Down 4.6% After Analyst Downgrade

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price was down 4.6% during 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. Approximately 2,808,068 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 14,270,144 shares. The stock had previously closed at $4.63.

A number of other equities research analysts also recently weighed in on the company. Zacks Research raised Peloton Interactive from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Truist Financial lowered their price target on shares of Peloton Interactive from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Friday. Wall Street Zen raised shares of Peloton Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Telsey Advisory Group reduced their price objective on shares of Peloton Interactive from $8.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday. Finally, Wolfe Research set a $9.00 target price on shares of Peloton Interactive in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.26.

Insider Activity

In related news, insider Jennifer Cunningham Cotter sold 131,495 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $6.64, for a total value of $873,126.80. Following the completion of the transaction, the insider owned 100,269 shares in the company, valued at $665,786.16. This trade represents a 56.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Saqib Baig sold 10,000 shares of Peloton Interactive stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $6.87, for a total value of $68,700.00. Following the sale, the chief accounting officer directly owned 170,665 shares of the company’s stock, valued at $1,172,468.55. This trade represents a 5.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,107,129 shares of company stock valued at $7,708,694. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Peloton Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in Peloton Interactive by 342.6% during the first quarter. Royal Bank of Canada now owns 616,367 shares of the company’s stock worth $3,896,000 after acquiring an additional 477,106 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Peloton Interactive by 2.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 290,981 shares of the company’s stock worth $1,839,000 after purchasing an additional 6,921 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Peloton Interactive by 3,132.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,549 shares of the company’s stock valued at $98,000 after purchasing an additional 15,068 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Peloton Interactive by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock valued at $44,598,000 after purchasing an additional 1,503,680 shares in the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of Peloton Interactive in the 1st quarter valued at $282,000. 77.01% of the stock is owned by institutional investors and hedge funds.

Peloton Interactive Price Performance

The stock has a market capitalization of $1.84 billion, a PE ratio of -33.85, a P/E/G ratio of 0.82 and a beta of 2.41. The stock’s fifty day moving average is $6.15 and its 200-day moving average is $7.08.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data 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 business had revenue of $656.50 million for the quarter, compared to the consensus estimate of $675.04 million. During the same period last year, the firm earned ($0.24) earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, analysts forecast that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

About Peloton Interactive

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.