Peloton Interactive (NASDAQ:PTON) Trading Down 4.3% on Analyst Downgrade

Peloton Interactive, Inc. (NASDAQ:PTON) shares traded down 4.3% during mid-day trading on Thursday after Morgan Stanley lowered their price target on the stock from $5.75 to $4.00. Morgan Stanley currently has an equal weight rating on the stock. Peloton Interactive traded as low as $5.41 and last traded at $5.38. 1,934,504 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 16,010,043 shares. The stock had previously closed at $5.62.

Several other research analysts have also recently issued reports on PTON. JPMorgan Chase & Co. dropped their price target on Peloton Interactive from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Citigroup decreased their target price on Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft raised Peloton Interactive from a “hold” rating to a “buy” rating and set a $6.60 price target on the stock in a research note on Monday, April 14th. Finally, The Goldman Sachs Group upped their price objective on shares of Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Fifteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.54.

Insider Transactions at Peloton Interactive

In other Peloton Interactive news, insider Nick V. Caldwell sold 68,727 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $6.59, for a total value of $452,910.93. Following the transaction, the insider now directly owns 474,234 shares of the company’s stock, valued at $3,125,202.06. This represents a 12.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Cunningham Cotter sold 187,238 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $6.45, for a total value of $1,207,685.10. Following the sale, the insider now directly owns 100,269 shares of the company’s stock, valued at $646,735.05. This trade represents a 65.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 674,338 shares of company stock valued at $5,522,838. 1.34% of the stock is owned by insiders.

Institutional Trading of Peloton Interactive

Several large investors have recently added to or reduced their stakes in the business. Hennessy Advisors Inc. bought a new position in shares of Peloton Interactive during the 4th quarter valued at $85,260,000. T. Rowe Price Investment Management Inc. increased its position in Peloton Interactive by 38.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 16,820,256 shares of the company’s stock worth $146,337,000 after buying an additional 4,635,667 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Peloton Interactive during the fourth quarter valued at about $39,992,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Peloton Interactive by 245.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,227,854 shares of the company’s stock worth $36,782,000 after buying an additional 3,004,757 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its position in shares of Peloton Interactive by 1,438.9% in the fourth quarter. Voloridge Investment Management LLC now owns 3,109,054 shares of the company’s stock worth $27,049,000 after buying an additional 2,907,023 shares during the last quarter. 77.01% of the stock is owned by institutional investors.

Peloton Interactive Stock Performance

The company has a market cap of $2.10 billion, a P/E ratio of -7.00 and a beta of 2.21. The firm has a 50 day moving average price of $6.85 and a 200-day moving average price of $7.65.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). On average, sell-side analysts forecast that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Peloton Interactive Company Profile

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.