Peloton Interactive (NASDAQ:PTON) Shares Down 13.9% – Time to Sell?

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price fell 13.9% on Thursday . The stock traded as low as $5.67 and last traded at $5.43. 1,748,390 shares changed hands during trading, a decline of 89% from the average session volume of 15,961,614 shares. The stock had previously closed at $6.31.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PTON shares. The Goldman Sachs Group lifted their price objective on shares of Peloton Interactive from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. UBS Group raised shares of Peloton Interactive from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $2.50 to $10.00 in a research note on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research report on Thursday, February 6th. Macquarie restated a “neutral” rating and set a $9.00 target price on shares of Peloton Interactive in a research report on Monday, February 10th. Finally, Canaccord Genuity Group upgraded Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Friday, March 14th. Fifteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $8.69.

Peloton Interactive Stock Down 6.9 %

The stock has a market capitalization of $1.96 billion, a P/E ratio of -6.53 and a beta of 2.21. The stock’s 50 day moving average price is $7.47 and its 200-day moving average price is $7.60.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly 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). Analysts anticipate that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jennifer Cunningham Cotter sold 187,238 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now owns 100,269 shares of the company’s stock, valued at $646,735.05. This trade represents a 65.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Saqib Baig sold 22,662 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total value of $220,954.50. Following the transaction, the chief accounting officer now directly owns 130,031 shares in the company, valued at $1,267,802.25. This represents a 14.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 674,338 shares of company stock worth $5,522,838. 1.34% of the stock is owned by corporate insiders.

Institutional Trading of Peloton Interactive

Institutional investors have recently bought and sold shares of the stock. Townsquare Capital LLC lifted its stake in shares of Peloton Interactive by 6.5% during the fourth quarter. Townsquare Capital LLC now owns 19,280 shares of the company’s stock worth $168,000 after buying an additional 1,172 shares during the period. Comerica Bank raised its stake in Peloton Interactive by 29.1% in the 4th quarter. Comerica Bank now owns 6,164 shares of the company’s stock worth $54,000 after acquiring an additional 1,389 shares during the last quarter. Cetera Investment Advisers lifted its position in Peloton Interactive by 9.1% during the 4th quarter. Cetera Investment Advisers now owns 17,144 shares of the company’s stock worth $149,000 after acquiring an additional 1,432 shares during the period. Victory Capital Management Inc. grew its stake in Peloton Interactive by 3.8% during the 4th quarter. Victory Capital Management Inc. now owns 42,084 shares of the company’s stock valued at $366,000 after purchasing an additional 1,534 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Peloton Interactive by 31.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after purchasing an additional 1,597 shares during the period. 77.01% of the stock is currently 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.