Peloton Interactive (NASDAQ:PTON) Shares Down 3.2% After Insider Selling

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price dropped 3.2% on Tuesday after an insider sold shares in the company. The stock traded as low as $4.56 and last traded at $4.57. Approximately 1,428,853 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 15,926,431 shares. The stock had previously closed at $4.72.

Specifically, CFO Elizabeth F. Coddington sold 36,819 shares of Peloton Interactive stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $4.74, for a total value of $174,522.06. Following the completion of the transaction, the chief financial officer now directly owns 171,466 shares of the company’s stock, valued at approximately $812,748.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PTON shares. JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a research note on Tuesday, July 2nd. Robert W. Baird raised their price target on shares of Peloton Interactive from $4.00 to $4.75 and gave the company a “neutral” rating in a research report on Monday, August 26th. Morgan Stanley upped their price objective on Peloton Interactive from $2.50 to $3.50 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Wolfe Research started coverage on shares of Peloton Interactive in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. downgraded shares of Peloton Interactive from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $5.00 in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.57.

Peloton Interactive Stock Down 3.7 %

The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -2.10 and a beta of 2.04. The company has a fifty day moving average of $3.86 and a two-hundred day moving average of $3.78.

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

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors have recently made changes to their positions in the stock. Abundance Wealth Counselors increased its position in Peloton Interactive by 24.7% during the 2nd quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock worth $45,000 after purchasing an additional 2,654 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Peloton Interactive by 2.7% during 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 in the last quarter. Arizona State Retirement System raised its position 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 valued at $314,000 after buying an additional 3,377 shares during the last quarter. Private Advisor Group LLC boosted 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 worth $228,000 after acquiring an additional 3,855 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in Peloton Interactive by 4.3% during the second quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company’s stock worth $452,000 after acquiring an additional 5,463 shares during the last quarter. 77.01% of the stock is owned by institutional investors and hedge funds.

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.