Peterhead produced a stunning second-half performance to end East Stirlingshire's 100% record at the top of League Two.
The leaders looked set to continue their impressive start to the campaign when Paul Quinn converted from the penalty spot in the fifth minute after Kevin Turner was brought down by Ryan McGeever.
Shire remained in front until just before the hour when Jordan Brown's right-footed finish was the first of four goals in 23 minutes for the visitors.
James Redman finished low past Grant Hay to put Peterhead in front, before Stephen O'Neill gave them a cushion after sweeping home Rory McAllister's long ball.
McGeever's left-footed effort completed an emphatic first win of the season for Peterhead.
East Stirlingshire: Hay, MacGregor, Townsley, Bolochoweckyj, Michael McGowan, Thomson, Turner, Greenhill (O'Donoghue 73), McKechnie (Maxwell 73), Wright (Glasgow 74), Quinn.
Subs Not Used: McCaughie, Gordon, Miller, Conor Kelly.
Booked: McKechnie, MacGregor.
Goals: Quinn 5 pen.
Peterhead: Smith, McGlinchey, McGeever, Scott Ross, Noble, McLaren (Richardson 87), O'Neill, Redman, Cox (Rodgers 57), Brown, McAllister (Buchan 82).
Subs Not Used: Jarvie, Fitzgerald.
Booked: Cox, McAllister, Brown.
Goals: Brown 58, Redman 66, O'Neill 76, McGeever 81.
Ref: David Somers