Peloton Interactive (NASDAQ:PTON) Receives “Hold” Rating from Needham & Company LLC

Peloton Interactive (NASDAQ:PTON)‘s stock had its “hold” rating reiterated by Needham & Company LLC in a report released on Thursday,Benzinga reports.

A number of other brokerages have also recently commented on PTON. UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and increased their price target for the company from $2.50 to $10.00 in a research report on Friday, December 6th. Macquarie increased their price target on shares of Peloton Interactive from $4.90 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Morgan Stanley increased their price target on shares of Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Bank of America upgraded shares of Peloton Interactive from an “underperform” rating to a “buy” rating and increased their price target for the company from $3.75 to $9.00 in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Sixteen analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Peloton Interactive presently has an average rating of “Hold” and an average price target of $7.10.

Peloton Interactive Trading Down 1.4 %

PTON stock opened at $8.37 on Thursday. The company’s 50 day moving average is $8.96 and its 200 day moving average is $6.60. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -7.82 and a beta of 1.95. Peloton Interactive has a 1-year low of $2.70 and a 1-year high of $10.90.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). As a group, sell-side analysts forecast that Peloton Interactive will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Karen Boone sold 16,925 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $9.64, for a total value of $163,157.00. Following the completion of the sale, the chief executive officer now owns 228,217 shares of the company’s stock, valued at $2,200,011.88. This trade represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Andrew S. Rendich sold 138,391 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.51, for a total value of $1,039,316.41. Following the completion of the sale, the insider now directly owns 287,973 shares of the company’s stock, valued at $2,162,677.23. The trade was a 32.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 395,813 shares of company stock valued at $3,041,724 over the last quarter. 1.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTON. Gtcr LLC purchased a new position in Peloton Interactive during the third quarter valued at $65,520,000. Hennessy Advisors Inc. purchased a new position in shares of Peloton Interactive in the 4th quarter worth about $85,260,000. Assenagon Asset Management S.A. purchased a new position in shares of Peloton Interactive in the 4th quarter worth about $39,992,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Peloton Interactive in the 3rd quarter worth about $8,363,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Peloton Interactive in the 3rd quarter worth about $5,724,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.