Peloton Interactive (NASDAQ:PTON) Reaches New 12-Month Low After Earnings Miss

Peloton Interactive, Inc. (NASDAQ:PTON) shares reached a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $4.30 and last traded at $4.5540, with a volume of 29055171 shares trading hands. The stock had previously closed at $5.91.

The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.24) EPS.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Guggenheim started coverage on Peloton Interactive in a research note on Wednesday, December 10th. They issued a “neutral” rating on the stock. Zacks Research upgraded shares of Peloton Interactive from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Peloton Interactive in a report on Friday, January 9th. UBS Group reissued a “buy” rating on shares of Peloton Interactive in a report on Tuesday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $8.00 price objective on shares of Peloton Interactive in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.72.

Insider Buying and Selling

In other news, CAO Saqib Baig sold 42,267 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.25, for a total transaction of $306,435.75. Following the transaction, the chief accounting officer directly owned 193,052 shares in the company, valued at approximately $1,399,627. This represents a 17.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elizabeth F. Coddington sold 238,014 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.18, for a total transaction of $1,708,940.52. Following the completion of the sale, the chief financial officer directly owned 346,535 shares of the company’s stock, valued at approximately $2,488,121.30. This represents a 40.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,107,129 shares of company stock valued at $7,708,694. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several large investors have recently made changes to their positions in PTON. Bessemer Group Inc. boosted its holdings in Peloton Interactive by 1,602.6% in the second quarter. Bessemer Group Inc. now owns 5,312 shares of the company’s stock valued at $37,000 after acquiring an additional 5,000 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Peloton Interactive in the 3rd quarter valued at about $48,000. MAI Capital Management grew its position in shares of Peloton Interactive by 64.6% during the 2nd quarter. MAI Capital Management now owns 5,498 shares of the company’s stock worth $38,000 after buying an additional 2,158 shares during the period. Quarry LP acquired a new stake in shares of Peloton Interactive during the 3rd quarter worth approximately $71,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Peloton Interactive by 158.3% during the third quarter. Farther Finance Advisors LLC now owns 7,986 shares of the company’s stock worth $72,000 after buying an additional 4,894 shares during the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

Peloton Interactive Stock Down 23.4%

The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -15.95, a price-to-earnings-growth ratio of 1.33 and a beta of 2.41. The company’s fifty day moving average is $6.28 and its two-hundred day moving average is $7.11.

Peloton Interactive Company Profile

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.