Peloton Interactive (NASDAQ:PTON) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Peloton Interactive (NASDAQ:PTON) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other brokerages have also recently commented on PTON. Truist Financial decreased their price target on Peloton Interactive from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Argus lowered shares of Peloton Interactive from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th. Macquarie Infrastructure boosted their target price on shares of Peloton Interactive from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Morgan Stanley upped their price target on shares of Peloton Interactive from $6.00 to $6.50 and gave the stock an “equal weight” rating in a report on Wednesday, November 19th. Finally, Bank of America set a $9.00 price objective on shares of Peloton Interactive in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Peloton Interactive currently has an average rating of “Hold” and a consensus price target of $8.42.

Peloton Interactive Trading Up 0.5%

Shares of PTON opened at $4.25 on Friday. Peloton Interactive has a 12 month low of $4.09 and a 12 month high of $10.25. The firm’s 50 day moving average is $5.93 and its 200-day moving average is $6.99. The stock has a market capitalization of $1.81 billion, a PE ratio of -32.69, a P/E/G ratio of 0.87 and a beta of 2.41.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $656.50 million during the quarter, compared to analyst estimates of $675.04 million. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.24) EPS. Equities research analysts predict that Peloton Interactive will post -0.36 earnings per share for the current fiscal year.

Insider Transactions at Peloton Interactive

In other news, insider Jennifer Cunningham Cotter sold 131,495 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $6.64, for a total transaction of $873,126.80. Following the completion of the transaction, the insider directly owned 100,269 shares in the company, valued at approximately $665,786.16. This represents a 56.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Charles Peter Kirol sold 22,520 shares of the business’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $6.47, for a total value of $145,704.40. Following the sale, the chief operating officer owned 81,001 shares in the company, valued at $524,076.47. This represents a 21.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 478,171 shares of company stock valued at $3,173,267. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Several hedge funds have recently added to or reduced their stakes in the business. Eminence Capital LP bought a new position in shares of Peloton Interactive during the second quarter valued at $112,681,000. DNB Asset Management AS increased its holdings in Peloton Interactive by 142.4% in the fourth quarter. DNB Asset Management AS now owns 10,776,627 shares of the company’s stock valued at $66,384,000 after purchasing an additional 6,331,510 shares during the period. Hennessy Advisors Inc. acquired a new stake in Peloton Interactive in the fourth quarter valued at $30,533,000. Alyeska Investment Group L.P. raised its position in Peloton Interactive by 306.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 5,462,344 shares of the company’s stock worth $33,648,000 after purchasing an additional 4,116,986 shares during the last quarter. Finally, Norges Bank acquired a new position in Peloton Interactive during the 4th quarter worth about $23,796,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

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.