Peloton Interactive (NASDAQ:PTON) Shares Down 4.3% Following Analyst Downgrade

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) were down 4.3% during 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. Approximately 1,934,504 shares changed hands during trading, a decline of 88% from the average daily volume of 16,010,043 shares. The stock had previously closed at $5.62.

A number of other research firms also recently commented on PTON. JPMorgan Chase & Co. reduced their target price on Peloton Interactive from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft upgraded Peloton Interactive from a “hold” rating to a “buy” rating and set a $6.60 price objective on the stock in a research note on Monday. Citigroup dropped their target price on shares of Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $11.00 price target on shares of Peloton Interactive in a report on Monday, February 3rd. Finally, Canaccord Genuity Group upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Friday, March 14th. Fifteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.54.

Insider Activity at Peloton Interactive

In related news, insider Nick V. Caldwell sold 68,727 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.59, for a total value of $452,910.93. Following the completion of the transaction, the insider now owns 474,234 shares in the company, valued at $3,125,202.06. This represents a 12.66 % decrease in their position. The sale was disclosed in a filing 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 shares were sold at an average price of $6.45, for a total transaction of $1,207,685.10. Following the transaction, the insider now directly owns 100,269 shares in the company, valued at approximately $646,735.05. The trade was a 65.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 674,338 shares of company stock worth $5,522,838 in the last three months. 1.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Peloton Interactive

A number of institutional investors have recently added to or reduced their stakes in PTON. R Squared Ltd bought a new stake in shares of Peloton Interactive in the 4th quarter worth $28,000. Russell Investments Group Ltd. grew its holdings in Peloton Interactive by 969.6% during the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock worth $35,000 after acquiring an additional 3,636 shares during the period. FNY Investment Advisers LLC bought a new stake in Peloton Interactive in the first quarter worth about $37,000. GAMMA Investing LLC lifted its holdings in Peloton Interactive by 1,082.5% in the 1st quarter. GAMMA Investing LLC now owns 8,159 shares of the company’s stock valued at $52,000 after acquiring an additional 7,469 shares during the last quarter. Finally, Comerica Bank boosted its position in shares of Peloton Interactive by 29.1% during the 4th quarter. Comerica Bank now owns 6,164 shares of the company’s stock valued at $54,000 after purchasing an additional 1,389 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Peloton Interactive Stock Performance

The company’s 50 day moving average price is $6.92 and its 200-day moving average price is $7.64. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -7.00 and a beta of 2.21.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.04). As a group, sell-side analysts forecast that Peloton Interactive, Inc. will post -0.36 earnings per share for the current 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.